New Tech Drives Record Transaction Speeds for Syscoin
Syscoin can achieve over 60,000 transactions per second (TPS) with new Zero Confirmation tech, Z-DAG, from Blockchain Foundry. Much higher than its peers such as EOS and QTUM.
Canadian blockchain company Blockchain Foundry has revealed the speed of its patent pending Zero Confirmation Directed Acyclic Graph (“Z-DAG”) technology. The protocol is designed exclusively for the Syscoin protocol. Whiteblock, a blockchain testing company, analysed the Syscoin network using 24 masternodes and reported speeds of between 60,158 TPS and 145,542 TPS. As a comparison, credit and debit card networks typically have the capacity to handle approximately 25,000 TPS.
The results indicate that the TPS achieved by Syscoin tokens perform very effectively and have strong indicators for performance. Jag Sidhu, the Company’s CTO and Syscoin co-founder said,
‘In order to achieve adoption, scalability is essential. We wanted to make the Syscoin Platform ready for projects that need to reach mainstream adoption without scaling limitation. Now that we have transaction speeds comparable to typical credit and debit card networks, we are ready,’
Blockchain Foundry recently filed a patent application in the US for its Z-DAG technology.
‘The Z-DAG protocol is extremely innovative and presents a practical solution for many of the performance issues that are currently bottlenecking the continued scalability of blockchain systems,’ commented Zachary Cole, Whiteblock CEO.
The Syscoin Bridge: A Leg-Up for Ethereum Developers
The fourth release of the Syscoin Protocol will feature Z-DAG technology at its core, enabling Ethereum dApp developers to benefit from this scalable technology. A Syscoin Bridge, designed by Blockchain Foundry, will connect to the Ethereum blockchain for smart contract execution.
About Blockchain Foundry Inc.
Headquartered in Toronto, Canada, Blockchain Foundry is a global blockchain consulting and development firm. Blockchain Foundry develops and commercialises decentralised ledger technology, custom blockchain solutions and smart contracts for enterprise clients.
Whiteblock provides the world’s first scalable test system for blockchain and enterprise DLT developers. Whiteblock’s Blockchain Testing as a Service (BTaaS) measures and validates key performance benchmarks, such as transactions per second and consensus over a variety of networks.