Vitalik Buterin “Ethereum will eventually be able to process $1m transactions per second”
In a recent OmiseGO AMA session, Ethereum founder Vitalik Buterin announced that soon the Ethereum network would be able to process one million transactions per second, with Sharding and Plasma technology playing a vital role.
This advancement in the scalability issues of blockchain based technologies has been something which Buterin has long discussed. Whilst these decentralized networks have the potential to become a part of the everyday world, they are limited by the capacity of transactions per second.
The Ethereum blockchain at the moment can “processes around 15 transactions per second” Buterin stated in the conversation. Whilst this is far more advanced than the capability of Bitcoin, for example, the capability of Ethereum is far smaller than “PayPal, VISA and the major stock exchanges which go up to about 80,000 transactions per second” according to Buterin.
Whilst Buterin knows too well that the current level of transactions processed by the Ethereum blockchain is high for the platform and industry, he also knows that the scalability of Ethereum has some major issues.
The layer one property improvements that Sharding can address in these scalability issues allows the blockchain to process these transactions a lot...
Populous Post business intelligence - ICO Update
- Project name: Populous
- Ticker symbol: PPT
- Market cap*: $129 million
- Circulating supply*: 37,004,027 PPT
- Total supply: 53,252,246 PPT
Populous is a peer-to-peer invoice discounting platform. Their platform uses smart contracts powered by a blockchain ledger to pair invoice sellers and lenders without the need to transact through third parties.
Their vision is to increase funding for small and medium size enterprises (SMEs) while reducing invoice fraud by transacting on a peer-to-peer blockchain platform. Populous uses two tokens to facilitate the lending and exchange of funds on their platform; Pokens and Populous Platform Tokens (PPT).
Pokens are used internally to purchases invoices on the platform, and they are pegged at a rate of 1:1 to whatever local fiat currency for which they are being exchanged. Pokens and PPT are both ERC-20 standard tokens powered by the Ethereum blockchain.
PPT are used as collateral to invest in invoices on the platform. When one lends their PPT, they will receive the profit in Pokens for their lending of capital and their principal PPT investment in return.
Below is a diagram showing how the Populous platform works in a nutshell:
Founded in 2017 and based in London, Populous World Ltd. was founded by Stephen Williams. The project raised over $10.2 million USD in their ICO.
The 2018 year has been volatile for Populous so far. A £1...
Post-ICO update for SONM decentralized fog computing platform
- Project name: SONM
- Ticker symbol: SNM
- ICO date: June 2017
- Market cap*: $20 million
- Circulating supply*: 359,600,000 SNM
- Total supply: 444,000,000 SNM
SONM is a decentralized fog computing platform with use cases targeted at general-purpose computing tasks. SONM facilitates the use and exchange of general-purpose computing power and computer architectures.
The marketplace for SONM is built on the Ethereum blockchain and uses an ERC-20 token as its standard. However, there are two tokens used in SONM’s ecosystem.
The first is the ERC-20 standard used on exchanges, and the second is the SONM blockchain token. The SONM blockchain token is pegged at a rate of 1:1 to the SONM token and can be exchanged between their native blockchain and the Ethereum blockchain.
When purchasing or leasing computing power, SONM suppliers and customers use the SONM blockchain tokens as a medium of exchange. The ultimate goal of the SONM platform is to give more resources to crypto miners and make better use of the total computing power in the network.
Use cases for SONM include machine learning, video rendering on CPU/GPU, CDN and video streaming, and so on.
SONM was founded by Sergei Ponomarev, a smart contract expert, and Aleksei Antonov, a blockchain proponent. SONM was able to raise $42 million USD in their four-day ICO period.
Since then, SONM has launched its main net and is in the process of gaining Customers and Suppliers to exchange computing power within their fog computing platform. As of the date of publication of the article, there are 106 deals in process...