ChronoBank, a blockchain-based initiative aimed at disrupting the short-term recruitment sector, has announced that it will be implementing Ethplorer’s API within its ChronoWallet to gain the information required to conduct a range of TIME token operations.
The project, which recently ended its crowdsale with $5.4 million in funding, is creating a dedicated wallet to allow businesses and individuals to use the TIME token to secure labor and earn rewards from its upcoming decentralized LaborX exchange. TIME holders will be able to lock their tokens to a mining rewards contract within the wallet, in a similar way that regular cryptocurrency wallets receive transaction fees by staking coins.
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As its name suggests, Ethplorer provides explorable information about Ethereum tokens from its blockchain. This can be used not only by developers, but by the public. Ethplorer’s API will be used to acquire information about Ethereum tokens, contracts, transactions and custom structures within the ChronoWallet.
The developers explain that adopting Ethplorer’s API will significantly speed up the development of ChronoBank’s wallet, and offer features that might otherwise have taken weeks or months to develop.
“We’re very impressed with Ethplorer’s functionality and particularly their powerful, wide-ranging API,” said Sergei Sergienko, CEO of ChronoBank. “It’s the ideal toolkit to leverage within the ChronoWallet and gives us the ability to parse information very cleanly and reliably. In making these tools available, Ethplorer have done a huge amount to drive forward Ethereum usage and are the perfect partner for ChronoBank in this regard.”