About JOC Project
The Japan Open Chain (JOC) project is a project to make people's lives more convenient through blockchain technology.
Japan Open Chain was designed as an Ethereum-compatible L1 blockchain infrastructure that allows companies and individuals not only in Japan but around the world to conduct Web3 business safely and securely, with the aim of solving issues such as speed and high gas costs of the existing Ethereum mainnet, and legal stability of operators. This chain is an open-endpoint consortium permissioned node blockchain that maintains sufficient decentralization, high security performance, and stability while being operated by trusted Japanese companies in compliance with Japanese law.
Project Expansion
JOC is jointly operated with major domestic and international companies, technology companies, and partners with global communities, and will expand the chain to Japan and the world.
Operating Partners (Validators)
They verify the validity of transaction data on Japan Open Chain.
Development Partners
Partners who cooperate to develop JOC.
Interoperability Providers
Index Service Providers
Stablecoins
Following Japan's legal amendments in 2023, a foundation for bank-issued stablecoins has been established. We are working with Japanese banks to build the next-generation financial system.
JOC Token Holders
JOC tokens aim to conduct IEO through the domestic cryptocurrency exchange BitTrade in 2024. After IEO, you can support JOC as a token holder. JOC tokens function as cryptocurrency and are also used as fees (gas fees) for transactions that occur on JOC.
General Users
JOC can provide benefits to users in various industries and can be used. People around the world can participate in JOC's network.
Finance
Regional Revitalization
Information & Communication
Distribution
Manufacturing
Games & Entertainment
MarketingStablecoin Project
As part of the JOC project, we are advancing a stablecoin project to achieve fast remittances and transaction fees of less than 1 yen.
What is Japan Open Chain?
Ethereum Fully Compatible Blockchain
Japan Open Chain is an Ethereum fully compatible blockchain, which means that tools and smart contracts developed for the Ethereum protocol can be used as-is, which is a major feature. While being fully compatible with Ethereum, this project adopts the Proof of Authority algorithm instead of the Proof of Stake consensus algorithm adopted by the Ethereum mainnet.
Proof of Authority Consensus Algorithm
The Proof of Authority consensus algorithm is one of the official algorithms of the Ethereum protocol, similar to the Proof of Stake algorithm, and has sufficient reliability and excellent scalability as long as it is operated by trusted validators. Japan Open Chain adopted this Proof of Authority consensus algorithm and operated it with trusted Japanese companies to ensure reliability while dramatically improving transaction speed.
Validators are composed of diverse Japanese companies
Japan Open Chain solved the weakness of the Proof of Authority algorithm, which has low validator decentralization, with validators composed of famous Japanese companies. It consists of 21 companies with high social trust in Japan, including Sony Group, Dentsu Group, universities, and listed companies ranked in the top 10 in sales in Japan. To ensure validator diversity, not only large companies but also trusted cryptocurrency-related companies and startups that can contribute to the ecosystem in the future are planned to participate as validators.
Achieving High Speed and Low Gas Costs
On Japan Open Chain, even complex contract executions like ERC20 token transfers can be processed at 400 TPS (400 times per second), and simple gas token transactions can be processed at approximately 2,000 TPS. This is 10 to 100 times more transactions than the 15 TPS of the Ethereum mainnet.
Quick Definitive Finality
In Ethereum 2.0, definitive finality is achieved through the PoS algorithm, but it usually takes several minutes. Due to the nature of its algorithm, Japan Open Chain can achieve definitive finality in 5 seconds, which is also its feature. Such specifications are very important when conducting financial payment transactions.
Ethereum Compatible Chain Optimal for Financial and Business Fields
In other words, Japan Open Chain is a chain that realistically considers the balance between decentralization and scalability, and is an Ethereum compatible chain operated under Japanese law, which is politically and legally stable globally. It will be a safe choice especially for those who want to use Ethereum compatible chains in the financial and business fields.
JOC Founders
Daimei Inaba
After working in corporate client roles at a city bank, he handled credit risk model and AI development and bank solution planning and development at Japan Risk Data Bank, Ltd. (Deputy President). In 2020, he founded G.U. Technologies, Inc. and became its CEO.
Hidekazu Kondo
After working at Sony Corporation, he founded Lunascape Corporation, which provides web browser services. In 2020, he established G.U. Technologies, Inc. and became its CTO. Recognized as a Super Creator by the IPA Exploratory Software Creation Project in 2004. Selected by AERA magazine as one of the "100 people to rebuild Japan" in 2011.