TORONTO, May 22, 2019 (GLOBE NEWSWIRE) -- Blockchain Foundry Inc. ("BCF" or the "Company") (CSE:BCFN) is pleased to announce that Whiteblock, Inc. (“Whiteblock”), a scalable blockchain testing company, today released its transactions-per-second (“TPS”) speed results for BCF's patent pending Zero Confirmation Acyclic Graph (“Z-DAG”) technology built exclusively for the Syscoin Protocol (“Syscoin”). Whiteblock was commissioned by BCF to provide a transparent and accurate picture of the transaction speed and scalability achieved by Syscoin Platform Tokens (“SP Tokens”).
Whiteblock conducted the analysis using 24 masternodes to test the network and achieved up to 145542 TPS in a control group and up to 60158 TPS outside of the control group. For context, the Syscoin network has 1487 active masternodes and has the potential of having up to 5532 masternodes running simultaneously. As a comparison, credit and debit card networks typically have the capacity to handle approximately 25000 TPS.
The results indicate that the TPS achieved by SP Tokens in an isolated test environment perform very effectively and have strong indicators for performance.
“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,” said Jag Sidhu, the Company’s CTO and Syscoin co-founder.
BCF recently filed a patent application with the United States Patent and Trademark Office (“USPTO”) for its Zero Confirmation Directed Acyclic Graph (“Z-DAG”) technology, exclusively designed for the Syscoin Blockchain Protocol.
"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," said Zachary Cole, Whiteblock CEO.
The Syscoin Bridge: A Leg-Up for Ethereum Developers
Whiteblock's results indicate strong performance in the Syscoin Z-DAG core and the fourth release of the Syscoin Protocol will enable Ethereum DApp developers to benefit from this scalable technology. Designed by BCF, the Syscoin Bridge will connect to the Ethereum, blockchain for smart contract execution, “Combining the security of Bitcoin, the functionality of Ethereum, and the speed and scalability of our Z-DAG technology, enterprise-ready blockchain applications are now a reality via the Syscoin Protocol,” said Jag Sidhu, the Company’s CTO and inventor of Z-DAG.
About Whiteblock
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. Read more about blockchain performance testing by visiting the Whiteblock website at www.whiteblock.io.
About Blockchain Foundry Inc.
Headquartered in Toronto, Canada, Blockchain Foundry (CSE:BCFN)(FWB:8BF)(OTC:BLFDF) is a global blockchain consulting and development firm. BCF develops and commercializes decentralized ledger technology, custom blockchain solutions and smart contracts for enterprise clients.
Blockchain Foundry Media Contact Information:
Christopher Marsh
Chief Financial Officer
(647)330-4572
cmarsh@blockchainfoundry.co
www.blockchainfoundry.co
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Forward-Looking Information
Certain portions of this press release contain “forward-looking information” within the meaning of applicable Canadian securities legislation, which is also referred to as “forward-looking statements”, which may not be based on historical fact. Wherever possible, words such as “will”, “plans,” “expects,” “targets,” “continues”, “estimates,” “scheduled,” “anticipates,” “believes,” “intends,” “may,” “could,” “would” or might, and the negative of such expressions or statements that certain actions, events or results “may,” “could,” “would,” “might” or “will” be taken, occur or be achieved, have been used to identify forward-looking information.
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