Credits Blockchain Platform Claims A Fast Transaction Rate Of One Million Transactions Every Second
Credits Unveil A Fast Transaction Rate of One Million Transactions Every Second Unmatched by Other Blockchain Platforms.
Credits recently performed thorough capacity tests on its blockchain system within real-life environments and through several distributed nodes. The tests were broadcasted live via YouTube on 14/9/2018 and they had some pretty impressive results.
The most noteworthy result is that the Credits platform was able to perform up to 1.3 million transactions every second, with an average load above 130,000 transactions every second. The reason these results were impressive is that no other blockchain system has achieved these high transaction numbers.
The primary reason for the capacity tests was to display the stability of the Credits platform as well as offer insights regarding the efficiency and speed of transactions. The testing environment was made to imitate how the platform would perform in real life situations.
It involved 32 nodes across Linux and Windows systems to exhibit interoperability across multiple platforms and the nodes were also geographically distributed across Canada, Australia, Latvia, Poland, and Germany. The nodes simulated network loading using transaction generators, which added 275 transactions each second until the platform reached its maximum capacity.
According to Igor Chugunov, the founder and CEO of Credits, these tests show that their platform was making great strides towards resolving the primary blockchain issues, including decentralization, scalability, and security. The live test proves that Credits was able to primarily deal with the issue of scalability, along with solutions for solving the other blockchain problems currently underway.
Also, Igor says that his company is continuously looking to develop into various industries through partnerships with different companies, thus helping to drive blockchain implementation across the world.
Credits ecosystem is built on the foundation of blockchain technology, which includes having a decentralized ledger, consensus model, independent nodes and an internal native cryptocurrency. However, unlike the block systems used in Ethereum and Bitcoin, Credits developed its own custom ledger architecture, consensus protocol, and advanced smart contracts with added functionalities.
The result is that the project can achieve an extremely high-performance speed that cannot be attained by similar platforms, with over one million transactions every second and at low costs.
The Credits platform has a highly diverse target audience that ranges from financial organizations and banks, online and payment services, smart contracts, IoT applications, and any other services in need of fast and cost-effective transactions. Most importantly, the financial sector requires a blockchain solution with high processing speeds and affordable transactions above anything else, which makes Credits very valuable.
Also, the platform is very flexible and is created to perform everything from the basic blockchain functions to other advanced features including enabling faster cash transfers, payments or enabling online shopping among others.