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Authtrail’s End-To-End Blockchain-Based Data Integrity Solution Adds $3.6 Million In Funding

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Data is one of the most important driving forces of the global economic infrastructure. However, the rate and frequency of data generated daily have sparked a new set of challenges. 

Not only are existing services quickly running out of resources, but this increased data production is also one of the primary reasons behind the increasing lack of data quality, integrity, and reliability.

For enterprises and businesses that rely on data, poor quality data may lead to ineffective decision-making. While several solutions have been introduced to help enterprises secure and verify data retroactively, the overall integrity of such data may still be jeopardized, especially because of human error or negligence.

Accordingly, enterprises need a truly reliable and independent data integrity solution that eliminates not only human interference throughout the process but also offers robust security mechanisms to prevent hacks and unauthorized data manipulation before it occurs. 

 

Solving The Dilemma Of Authentic Data

While existing solutions often only address individual data integrity concerns, primarily related to tracing and verification, they don’t usually offer easy connectivity to different enterprise databases or the capability to share data with third parties seamlessly.

This is where blockchain comes into the picture. Blockchain networks rely on distributed ledger technology (DLT), making the data stored on the blocks immutable and secure yet easily accessible. By leveraging these features, enterprises can solve their data-related problems. However, the problem is that most enterprises aren’t familiar with the evolving blockchain technology.

Authtrail, the blockchain-based data integrity SaaS platform, addresses the demand for an end-to-end encryption service through its infrastructure of easy-to-implement, plug-and-play data integrity solutions. By offering a faster, cheaper, and safer alternative to existing solutions, Authtrail has gained significant traction in 2021 across several mainstream industries. 

In tandem with its adjacent Authtrail applications, the Authtrail Platform serves as an ecosystem of data trust and traceability of transactions. It is an easy-to-use, cost-efficient, and highly scalable blockchain-based SaaS service to secure every bit of data on-chain and verify it at an enterprise level.

Unlike many existing on-chain solutions that are limited to data generated within the blockchain ecosystem, Authtrail powers straightforward connectivity between enterprise data and individual blockchain networks. It also hashes and stores large data pools faster at a lower cost than existing solutions, making it the go-to choice for enterprises. Additionally, all data is permanently and securely embedded on the blockchain, allowing all authorized users to verify the data source for authenticity quickly. 

Authtrail’s technology has already proven its mettle following implementations across the pharmaceutical, healthcare, finance, and manufacturing industries. It is fully compatible with industry-leading databases like Oracle, SAP, MySQL, Microsoft, IBM DB2, Salesforce, and Shopify, ensuring ample connectivity and interoperability

One of the standout features of Authtrail is that it offers easy API integrations, enabling widespread use with minimal technical requirements. With the Authtrail API, data from multiple sources are aggregated, verified, hashed, and finally anchored on the Moonbeam blockchain. Since the entire process is automated, it obliterates the chances of any error from the final dataset.

To ensure the authenticity, immutability, and security of the data, Authtrail uses blockchain technology. More specifically, Authrail uses the Polkadot-based Moonbeam Network to offer higher efficiency and lower transaction costs. Initially, the platform was deployed on Ethereum. However, as Ethereum’s gas costs rose, enterprises couldn’t keep up with the expenses. Following this development, Authtrail moved its infrastructure to the Moonbeam Network to improve affordability and scalability simultaneously.

By design, Moonbeam Network serves as an easy on-ramp to Polkadot. It is fully compatible with Ethereum and interoperable with other parachains on the Kusama and Polkadot networks. Furthermore, it also allows developers to build their own parachains and design unique blockchain infrastructures to meet specific use cases. With blockchain technology evolving rapidly amid expanding demands for data integrity, Authtrail’s vision of a multi-chain feature aligns with Moonbeam and Polkadot’s.

Recently, Authtrail closed a successful funding round, raising $3.6 million from leading investors and venture capital firms. Per the Authtrail team, these funds will help spearhead the next stages of product development and business growth as the platform cements itself as the go-to solution for enterprise data integrity on a global level.

Highlighting the future plans for the platform, Authtrail CEO Matjaz Sobocan states,

“Backed by several Angels and multiple VCs, Authtrail will help companies leverage higher quality data, equipped with integrity, as they implement blockchain technology into daily operations seamlessly and at a low cost.”

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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