RYT’s Game-Changing Blockchain: Redefining National Currencies, Digital ID, and Financial Access for Billions

RYT has launched its Layer-1 blockchain, introducing a proprietary Proof of Majority (PoM) consensus mechanism aimed at addressing scalability, energy efficiency, and accessibility, challenges that have limited broader blockchain adoption.

The platform is designed for real-world applications, including national digital ID systems, government-backed digital currencies, financial inclusion, healthcare records, and remittances. RYT’s first deployment is planned for 2025 in Pakistan, in partnership with a community-based savings platform supported by financial institutions.

“We built RYT to bring the benefits of decentralized technology to practical, everyday applications,” said Steve Durbin, CEO of RYT. “Our focus is on solving real-world problems — improving access to financial services, streamlining processes, and empowering individuals and institutions. We believe RYT has the potential to improve how people around the world interact and transact.”

RYT’s Proof of Majority (PoM) model differs from traditional Proof of Work (PoW) and Proof of Stake (PoS) systems by focusing on broader participation, lower energy consumption, and compatibility with low-powered devices such as smartphones. The company states that PoM is designed to reduce bandwidth usage, making blockchain more accessible in areas with limited digital infrastructure.

Using a majority voting protocol inspired by Practical Byzantine Fault Tolerance (PBFT), a node adopts a block once it detects that more than half of its connected peers have generated the same block hash. This majority rule is the backbone of the system, ensuring that any block deviating from the consensus is swiftly rejected.

To bolster security, the protocol incorporates multiple safeguards to deter malicious activity. For example, nodes that produce blocks inconsistent with the majority are temporarily “blacklisted,” and their votes are excluded from the decision-making process.

The company’s leadership team includes CEO Steve Durbin, ex-JP Morgan; Chief Architect Jeff Mahony, SaveDaily; and COO AbdulQadir, ex-Schneider Brothers Group. RYT has stated that multiple partnerships and implementations are expected to be announced later this year.

As blockchain innovation accelerates in 2025, RYT emerges as the platform to watch alongside heavyweights like TON and Sui, bringing groundbreaking advancements to fintech with its real-world solutions and inclusive design.

More details can be found on RYT’s website.