AnnouncementImpressive announcement. Maybe this is the "one to watch"!
NORTH YORK, ON / ACCESSWIRE / June 16, 2020 / ZTEST Electronics Inc. ("ZTEST" or the "Company") (CSE:ZTE) is pleased to announce that, further to the Company's Press Release of April 9, 2020, Conversance Inc., a Waterloo Ont. based private company in which ZTEST owns a 25.29 % equity interest, has successfully completed initial internal testing of Chronicle, Conversance's proprietary distributed ledger platform being built for scalability, low power consumption and intermittent connectivity.
Conversance was created in 2016 by Joseph C. Chen, for the purpose of creating a proprietary distributed ledger platform utilizing AI technologies. The primary focus of Chronicle is to store and share data in a platform that can be unequivocally trusted.
During internal testing, completed on a 256-node test network, simulating nodes distributed around the world, achieved 45,000 transactions per second (tps), with a 16.9 second latency, at 250 bytes per transaction. When the network model simulated a local network, Chronicle achieved 251,000 transactions per second (tps) at a 2.2 second latency.
Mr Chen commented "Chronicle was built from day one to enable distributed ledger applications with high levels of performance, without giving up network decentralization. Chronicle provides parallel asynchronous transaction processing in a fabric using a dynamic sharding approach. The above noted transaction rates are approximately three orders of magnitude (1000 times faster) than other commercial first generation blockchains."
Mr. Chen has a deep background in information theory, digital signal processing, and software and hardware architectures ranging from embedded to datacenter scale. He also made key contributions to the creation and popularization of smartphones. Mr. Chen has long been a resolute advocate for a digital world where personal privacy and rights can be guaranteed, despite encroachment by national and business interests who seek to mine and use private, personal information.
Conversance is continuing internal testing and design tuning of Chronicle. Additional testing results, and details of the architecture, will be made available through the Conversance website, when available.