Successful Tests Support Arcology’s Plan to Become the First Enterprise Blockchain to Process One Million Network-Wide Transactions Per Second
VANCOUVER, BC / ACCESSWIRE / August 13th, 2019 / Codebase Ventures Inc. (“Codebase” or the “Company”) (CSE: CODE – FSE: C5B – OTCQB: BKLLF), provides an update on its investment in Arcology, an enterprise-grade blockchain platform designed to disrupt current industry leaders such as Ethereum and EOS.
Recent tests of Arcology’s unique communication protocols confirm that the adaptive, intelligent network can improve performance dynamically and according to client and user needs. This represents a first-of-its-kind achievement in the commercial blockchain space.
“We are proud to announce that we are successfully processing 40,000 transactions per second, per partition,” said Laurent Zhang, Arcology’s founder and chief scientist. “For reference, the world’s number-two blockchain, Ethereum, completes just 20 transactions per second. Even the Visa network handles only 24,000.”
Arcology’s unique network communication is built on a fully distributed architecture that emphasizes efficiency through adaptability. Specifically, the Arcology protocol gets ahead of unpredictable conditions that, in typical networks, introduce wasteful friction, drag and redundancies. Tests this month also show that, by adjusting key proprietary parameters, Arcology modules can increase network speed by as much as 300%.
“We’re so pleased with these results that we’re already targeting 100,000 transactions per second for the next integration test,” Zhang added. “Then, it’s a simple matter to break through the one-million TPS barrier by running multiple partitions. This clears the way for Arcology to become the first full-service enterprise environment that can accommodate all commercial applications.”
These results follow news announced in June that Arcology’s novel use of parallel data insertion and querying on multiple databases will yield data storage that’s hundreds of times faster and cheaper than blockchains of similar size and mission.
“Very few, if any, blockchains can compete with conventional products when it comes to scale, speed and storage costs,” said George Tsafalas, Codebase’s CEO. “Having seen these test results, we’re even more confident that Arcology will be among the first new blockchain protocols to eat away at the centralized establishment’s market share.”
About Codebase Ventures Inc.
The Company’s mission is to make strategic investments in emerging sectors and markets, including cannabis and technologies such as blockchain and cryptocurrencies, where innovative business models and technologies have the potential to be transformative and deliver the greatest value to shareholders.
Codebase Ventures Inc. is a hands-on team of entrepreneurial and technology experts who invest early in great ideas. The Company operates from the understanding that emerging sectors including cannabis and technology are evolving rapidly, bringing early opportunities for strategic investments that can deliver the exponential returns to shareholders.
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SOURCE: Codebase Ventures Inc.
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