Devvio, a blockchain protocol development, has made an announcement on Monday, May 14th, 2018, that its Devcash blockchain has surpassed 2.5 million on-chain transactions per second, beating Bitcoin by a landslide and Visa by 24,000 transactions per second.
Tom Anderson, CEO of Devvio was impressed with the astonishing results and believes strongly in this project. He further believes that importance given to both scalability and stability is what resulted in such desirable results.
Anderson goes on to say that, “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 and financial transactions across the world, including areas such as payment processing and Forex trading.” He also sees the potential Devcash has and believes it has an important role to play in future technological fields.
Based on a statement made, Devcash uses multi-tiered sharding algorithms, which works by splitting homogenous types of data into multiple databases. The multiple databases, or shard chains, will eventually be weaved into one final blockchain, where smart contracts will be deployed to create digital assets in any type of industry.
Ray Quintana, General Partner at Cottonwood Ventures and a Devvio board member expressed his keen interest in Devvio’s capabilities in the following statement:
“It is rare to come across a company that has the potential to impact the world to the level that Devvio can. Devvio’s technology can disrupt dozens of billion-dollar markets such as automotive, insurance, healthcare, media, logistics, and even government.”
The anticipation for what Devvio holds in the future is high, as it addresses the main challenges that many are still struggling to solve when it comes to blockchain technology. In addition, the ability to introduce such a space to diverse industries reflects high efficiency and computing power on Devvio’s part.
Anish Mohammed, head of research at Information Sciences Institute at SRH Berlin and Devvio and Collider-X advisor stated,
“I am personally most excited about the potential to take the scaling capabilities of such an efficient design and let users apply for their own uses.”