In this review, we explain what Camino Network is, its goals within the travel industry, how it intends to achieve them, and how its technology could permanently change how the travel industry works.
That also includes the benefits offered to the project’s users, partners, and node operators. Along the way, we will also consider its pros, cons, and what it has to offer to those who choose to build within its ecosystem.
The project operates as a Decentralized Autonomous Organization (DAO), meaning the community itself makes decisions by voting and submitting proposals. Camino Network is governed by the travel ecosystem, including technology developers, industry service providers, and travelers.
According to the Camino Network’s litepaper, “Camino offers a versatile development platform to map and expand the travel industry’s current business models and create new travel-related products and ways to interact with travelers.”
Camino Network offers:
Camino Network is a travel industry blockchain fueled by the Camino token. Its mainnet went live in May 2023 and seeks to offer clients a versatile network for expanding the current business models and creating innovative touristic products for travelers and business partners alike.
The travel industry is largely based on archaic business structures and depends on legacy systems that are more akin to gatekeepers than anything else compared to some more recent sectors. In other words, there has been a severe lack of digital innovation, and the cost burden has been huge, discouraging travelers and burdening companies.
Seeing the potential of Web3, Chain4Travel imagined a shared network that would facilitate collaboration possibilities beyond anything that exists today. The company started by analyzing the market, the technology, and its own fresh ideas, with the team concluding that the existing Layer 1 (L1) was unsuitable.
Namely, L1 often proved not to be trustworthy enough to be implemented into the travel industry. Consequently, Camino intended to change that by offering a closed, much more secure environment for both travelers and businesses in the traveling industry.
It is important to note that the Camino Network and Chain4Travel are not bound to one another. Chain4Travel is designed to simply act as a validator for the network alongside more than 80 other travel firms. It transfers all rights to the Camino Network Foundation, based in Switzerland.
As a result, thanks to the company’s DAO system, the entire project is governed and operated by the community, which consists of travelers, businesses in the industry, and others, while Chain4Travel is simply one of many members of that community.
Camino emerged to solve some critical problems the travel industry suffered from, such as the pace at which innovation has progressed over the last few decades.
A lot of the technology and the business models in use today are decades old, even though there are numerous better alternatives. For example, Camino seeks to soften the rigidness of the old oligopolistic structure in the travel industry by introducing digital solutions.
Also, with the power in the hands of the community, Camino aims to maintain reasonable transaction fees, and it will continue to work on the development of new and improved travel products.
While the project is still in the set-up phase, it has already achieved several milestones. Primarily, it managed to gain the commitment of over 80 validators which will spin up the blockchain once the mainnet goes live later this month. Furthermore, it won the support of over 140 different travel companies that will use its technology to build dApp solutions for Business-to-Business (B2B) and Business-to-Consumer (B2C) models alike.
Moreover, the project has already managed to raise over 9.3 million CHF ($10.4 million). From the total amount, 5 million CHF ($5.59 million) came in private pre-sale, where 80+ companies from the travel industry participated, in addition to over 220 individuals. Some of the participants included names like Juniper, TUI, Eurowings, DER, Hotelplan, Miles & More, Lufthansa, Schauinsland, and others.
Meanwhile, the other 4.3 million CHF ($4.8 million) was raised in the project’s Seed investment, featuring investors such as firms in the travel sector who are in for the long run.
The Camino Network has four main use cases:
Camino Network is a public permissionless Layer 1 network available for everyone. With that said, the team distinguishes three types of network participants — Users, Partners, and Consortium Members:
Users have permission to read all data recorded on the blockchain. They can also interact with the network’s smart contracts, which they can do every time they buy products or pay for services that the network’s ecosystem will offer.
Partners have to go through a Know Your Customer (KYC) or Know Your Business (KYB) verification, but they can deploy smart contracts on the network. They can also interact with them and read all the data on the chain, like Users. However, dApp developers can also check whether the wallet that is interacting with the app is verified. The verification result can be used by smart contracts to build business logic.
Partners can also become Consortium Members. To do that, the Partner has to be a company that operates in the travel industry. It also has to stake CAM — Camino Network’s native cryptocurrency — and gain admittance to the consortium by other members, who will vote on whether or not the new firm should be accepted into their ranks.
The majority vote decides what happens next. But, assuming that the company is successfully voted into the consortium, it will become a member and participate in further voting to govern the network, determine changes in the protocol’s base fee, make decisions that will affect the project’s roadmap, and so on.
The native token funds the consequent developments in the project. The majority of Camino tokens are kept in reserve, which can be used to incentivize the development of travel-related products and dApps.
The initial distribution has seen:
Next, the project used:
Lastly, there are funds dedicated to marketing, development, and other similar purposes. For example:
In total, all of this makes up a 1 billion-large supply of CAM tokens which the project intends to use for rewarding the team and founders, as a start investment, and for incentives and reserve.
The project has checked out many milestones and achievements on its initial roadmap, but it also has big plans for the future.
In the near future, the company aims to:
While Camino may be a young project, it already has a number of promising features, for example:
It is also worth noting that Camino Network is fully compatible with Solidity, the programming language of Ethereum, and most likely the programming language of the entire crypto industry of the future.
That means that users can easily launch Ethereum dApps on Camino Network to enjoy its numerous features. One such feature is high scalability, which allows Camino to process thousands of transactions per second. Another very interesting thing about the project is that it uses multiple specialized chains, both private and public.
Camino Network is relatively safe thanks to decentralization and the distributed nature of blockchain technology. All transactions are verified and recorded by the network’s nodes, meaning hacking the blockchain or altering its data is unlikely.
The project combines some of the industry’s best practices and highest standards when it comes to security. The blockchain is also, by design, a consortium chain, where validators have to go through verification even to become validators in the first place. Also, its entire source code and all components are being audited and checked by third-party cybersecurity specialists
On top of all that, the project announced it would hold a bug bounty program, where the total bounty will be set to $200,000, half of which will be rewarded in CAM tokens.
According to Camino Network, the core is developed using the GO language. Thanks to the C-Chain, which is compatible with the Ethereum Virtual Machine, developers can quickly build applications on Camino. As for the dApps, they can be built on top of the Camino backend.
The project can maintain full EVM compatibility, keeping all common standards like ERC-20 tokens, ERC-721 tokens, and even ERC-2771, or meta transactions, while variants remain supported in the backend. Beyond that, it is very easy to adopt proven smart contracts and dApps that run on Ethereum’s network, and other compatible chains.
In total, the platform uses three separate chains:
The project explained that the philosophy behind the three specialized chains approach actually came from Avalanche. Camino uses Avalanche’s advanced technical base, so the same principle applies to its network. Each of the three chains was designed, optimized, and strictly considered a fully independent system, meant only for its own specific use.
That way, anyone with a role within the ecosystem has to work with a specific chain, depending on their role. For example, validators work within the P-Chain, while app developers work on C-Chain if they need to make more complex application scenarios that require EVM-compatible techniques, or on X-Chain, if it makes more sense to do their work there.
That can also increase the simplicity of understanding one’s role, as well as the area of the project’s ecosystem where work is being done and changes are being made. It all comes from the project’s desire to give ecosystem participants the opportunity to build something new and great.
Camino also offers a block explorer, which helps track network activity and available smart contracts on the chain. There is also a wallet that enables participants to stake their CAM tokens, and move or bridge funds between different chains.
In addition, there is data storage on IPFS. The idea of creating travel products requires low-cost data storage, which is why the project has created a cryptographic data storage implementation based on IPFS. That also includes a file browser, allowing for entangled data sets to be easily developed.
All the necessary information on Camino and its blockchain solutions is readily available on the company’s blog and website, as well as various social media platforms where users can get regular updates in regard to future project developments and engage with the community. Those include:
Website: https://camino.network
Medium/Blog: https://blog.camino.network
Camino social media platforms:
YouTube: https://www.youtube.com/@caminonetwork
Discord: https://discord.gg/camino
Twitter: https://twitter.com/camino_network
Telegram: https://t.me/caminoannouncements
LinkedIn: https://www.linkedin.com/company/caminonetwork/
Camino Network is an exciting project tackling the problems and lacks in the travel industry. It has created a detailed and extensive plan to improve the industry, which still relies on heavily outdated, expensive, and slow technologies. Camino Network’s new blockchain system could go a long way in revolutionizing the travel sector, and potentially, it could someday become a global network that companies around the world would rely on.
For now, it is important to note that the network is still growing and trying to gather a strong and loyal community. Still, it has plenty of plans for the future, and with the launch of its mainnet, the roadmap is starting to look even more ambitious.
Risk Disclosure and Disclaimer: The information provided in this review should not be regarded as investment advice. Cryptocurrency assets experience high market volatility; therefore, buying, selling, and trading them exposes you to significant financial risks.
Camino Network is a Web3-based travel ecosystem. It is a travel industry-oriented blockchain fueled by the Camino token, and it offers a versatile network to expand existing business models of the travel industry while creating new touristic products to delight travelers and business partners.
Camino Network was created by The Camino Network Foundation, which was, in turn, developed by Chain4Travel. Chain4Travel itself has three founders who are veterans of the travel industry — Ralf Usbeck, Thomas Stirnimann, and Pablo Castillo.
Camino Network is open to everyone, including individuals and companies. Partners of the network can also become node validators once they go through a verification procedure.
Camino Network offers to transform the travel industry using blockchain technology and community capabilities. It offers low transaction fees, community governance, quick and easy payments for goods and services, and more.
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