Leonovus has Launched Galaxa— the First Cloud XaaS Distributed Storage And Compute Marketplace
Leonovus, a cloud solutions software developer of a blockchain enabled software-defined object storage solution recently announced the release of Version 1.0 of the Galaxa Whitepaper. The announcement was made at a news conference in Singapore. The company also made it known that more information on the whitepaper can be found on the projects’ official website.
A Major Strategic Initiative for Leonovus
The launch of the Galaxa whitepaper has been described as a major strategic initiative for Leonovus. Through its launch, Leonovus will have a chance at challenging the oligopoly in the current cloud storage and computing market.
Based on information from the projects’ official page, “Galaxa will be the first cloud XaaS distributed storage and compute marketplace designed to address the unique requirements of enterprise customers, public and private, based on a proprietary blockchain powered by the cryptocurrency GAAX.”
Michael Gaffney, Chairman and CEO of Leonovus has also made some statements regarding the launch of the galaxy whitepaper.
He stated that:
“We are proud to release this first version of the Galaxa whitepaper and invite feedback from the global blockchain community to help us reflect on, and improve, the architecture and document. We expect several iterations of the whitepaper before the close of financing. The whitepaper is available for download on the project’s official website – galaxa.com, ”
The Galaxa whitepaper has been described as the first blockchain-enabled, enterprise-class, Anything as a Service (XaaS), distributed storage and compute marketplace. A payment system has also been developed for the project. The payment system is referred to as GAAX.
Based on information from the press release, Galaxa is set to pioneer a new blockchain architecture designed targeted at accelerating the global development and implementation of XaaS offerings by independent developers that shares a worldwide network of enterprise-grade distributed data storage and distributed compute assets.
With the introduction of the Galaxa Smart Services, the use of programming languages such as Solidity, Java, and Python to program smart contracts will become redundant. The Galaxa Smart Services will help reduce the cost incurred in time and money to develop, test and run their interactions with participants on the blockchain
The recently released press report also made it known that the Smart Services will allow developers to use the Galaxa blockchain and build applications for the web-based, XaaS Galaxa marketplace using high-level natural language constructs and open web APIs.
As a result of this, any decent developer will be able to adapt and gain the benefit of cloud and blockchain technology.
Financing
Regarding how it intends on financing the Galaxa project, Leonovus made it known that it has set plans in motion to complete a Security Token Offering (“STO”) by issuing a security called a Simple Agreement for a Future Token (“SAFT”).
Also, Leonovus has initiated application processes with the Canadian based exchange, TSX Venture Exchange. The purpose of this is to make the GAAX SAFT a tradable security on the TSX Venture Exchange. In eighteen to twenty-four months after the close of the financing, the SAFT will convert into the GAAX tokens.
The release also stated that:
“The marketplace will charge a small service fee percentage in GAAX to vendors and this service fee will be distributed to GAAX owners and system moderators. GAAX tokens will also be a security. Galaxa will pay regular distributions of GAAX to the token owners. Details about the distributions are in the whitepaper.”
