Devvio Claims Their Blockchain Can Process Millions of Transactions Per Second
A press release this week details the efforts of Devvio, a self-described pioneer in blockchain protocols, in benchmarking their new Devcash platform.
The new blockchain has reportedly successfully processed upwards of 2,500,000 transactions per second, all completely on-chain. This is worth noting as the Lightning Network, widely revered as the scalability solution for Bitcoin, takes advantage of off-chain computations in order to increase efficiency.
The Visa network regularly processes over 24,000 transactions per second, while Bitcoin typically processes around five.
Support for smart contracts will be fully implemented and will be designed to be able to be used across any industry.
The team also seems to be backed by some serious technology experience, four key players having close to a combined 100 years worth of development experience, one of which being a previous advisor for Ripple Labs and currently advising Collider-X.
These results let us build a business upon the most scalable blockchain protocol in existence. 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.” said CEO Tom Anderson.
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