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Posted   |     |   thehodllife

Devvio Blockchain First to Surpass Millions of Transactions per Second

Bitcoinist.net · May 14, 2018 · 12:00 pm

Innovative sharding algorithm solves blockchain’s scaling challenges at over 2.5 million transactions per second.

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Albuquerque, NM — May 14th, 2018Devvio, a pioneer in blockchain protocols (https://devv.io), today announced that its Devcash blockchain has achieved benchmarking results of over 2,500,000 transactions per second, processed on-chain. The benchmarking test refers to transactions validated within the blocks of a public blockchain. The Bitcoin network can process approximately 5 transactions per second and the Visa network is capable of handling more than 24,000 transactions per second, in contrast.

“These results let us build a business upon the most scalable blockchain protocol in existence,” said Tom Anderson, CEO. “When you combine this level of scalability with our stability solution, our fraud/theft/loss protections, and our privacy approach, our protocol represents a viable solution for the future of financial transactions across the world, including areas such as payment processing and Forex trading. I feel we have the most exciting technology in one of the most important up-and-coming technological fields.”

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Devcash uses a multi-tier sharding algorithm, in which transaction processing initially occurs on Tier 2 shards, which are themselves independent blockchains, that then weave into a Tier 1 blockchain. Smart contracts can be implemented with a compositional programming strategy to create digital assets for use in any…

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