Every day, existing smart contract platforms bring features closer to
fruition, and new entrants try to stake a claim. Cypherium, in contrast,
is already making good on promises to bring a highly scalable smart
contract platform to market without sacrificing decentralization.
Recently, Cypherium partnered with Amazon Web Services to enable
Blockchain-as-a-Service for enterprise customers. With the launch of
Cypherium Enterprise on AWS Marketplace, the adoption of tomorrow’s
blockchain-based business solutions begins now.
While blockchain represents a veritable paradigm shift for financial
technologies and the future of commerce, until Cypherium Enterprise,
there hasn’t been a smart contract toolset ready-made for businesses
getting to work today. Cypherium seamlessly processes thousands of
transaction per second with instant finality, meaning that once a
transaction is confirmed, it can’t be modified down the road.
Given Cypherium’s qualities of being instantly final and capable of
blazing fast transaction throughput, enterprise users can rest assured
the blockchain solutions they implement using Cypherium Enterprise are:
- Armored in a robust ironclad security
- Capable of scaling to the demands of real-world business needs
Just how fast is Cypherium compared to other leading blockchains?
Ethereum, the second most valuable digital asset and most well-known
smart contract platform, can handle up to about 15 transactions per
second. Hyperledger, a blockchain consortium for major enterprises,
handles between 100 and 200 transactions with a minimally decentralized
ten node setting.
Cypherium, on the other hand, clocks in at 2,500 to 5,000 transactions
per second – and that was only during the testnet. As the network is
fine-tuned, those numbers will strengthen and remain incredibly capable
at maximally decentralized node settings.
Just how vital is transaction-per-second speed, really? To put
Cypherium’s numbers in perspective, it’s important to note that Visa,
the world’s largest payment network and the largest credit payment rail,
claims up to 20,000 TPS. Despite the bold claim, their network rarely
tops out above 1,500 TPS, and is completely centralized, making it
vulnerable to attack and a poor monopolized option for users.
Cypherium’s network not only competes with Visa in terms of speed, but
also outdoes it concerning decentralized security and the user-oriented
transparency that belongs to blockchain.
Amongst blockchains, Cypherium shines even brighter. The intervention
made by Cypherium rests within the innovative consensus algorithm
they’ve hybridized. By taking the best of Bitcoin’s highly decentralized
proof of work consensus algorithm and pairing it with Practical
Byzantine Fault Tolerance for scaling to the needs of growing enterprise
use cases, Cypherium has propelled itself to the head of the class.
Finally, Cypherium Enterprise runs a frictionless Turing-complete Java
Virtual Machine to encourage the widespread adoption and development of
smart contracts in a way that maximizes the practical usefulness of
blockchain. Launching the smart contract platform on Amazon Web Services
Marketplace is a first step toward dispensing blockchain tools and
solutions to a new enterprise audience that has hitherto relied on
traditional technologies.
Cypherium’s developers aren’t strangers to what it takes to introduce
game-changing technologies to existing verticals. The Cypherium team is
composed of former Google, Amazon, Microsoft, and Tencent developers and
is advised by distributed systems researcher Emin Gun Sirer, who is
co-director of Cornell University’s Initiative for Cryptocurrencies and
Contracts. Cypherium has also introduced a new advisor with Bryan Ford,
who leads the Decentralized/Distributed
Systems (DEDIS) lab at the Swiss
Federal Institute of Technology in Lausanne (EPFL).
To read more about Cypherium and engage with the team to discuss how the
platform can work for you, visit cypherium.io.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190510005405/en/