It seems that finally world’s most scalable blockchain protocol dubbed as Devv has been created which is able to perform approximately eight million transactions per second. A start-up firm Devvio is claimed to have developed this amazing protocol that is highly efficient and is addressing all the major challenges faced by the blockchain industry at the moment. The global financial business will reach new standards if this claim turns out to be true. The first look of Devv was unveiled and demonstrated at Consumer Electronics Show (CES) in Las Vegas lately.
If at all this goes by what is projected then blockchain will be able to replace the existing operational methods and technologies used by the financial institutions. Devv is said to be competing in terms of scalability with the traditional financial networks offering enhanced privacy issues and fraudulent activities in a pretty much lower cost. Devv works on a peer-to-peer (P2P) database technology and also has its own virtual currency called as Devcash.
According to Computer World, Devv was created as a public blockchain protocol and not like an administered blockchain. The processing is moved and managed by Devvio’s implementation of self-executing codes that can predetermine terms of the agreement. Devvio CEO Tom Anderson asserted that Devv is the cheaper and faster protocol while Ethereum blockchain is utilizing the mechanism of Proof of Validation. The primary idea of this protocol is to enable the world’s infrastructure for transferring value with a high-end mechanism.
Devv’s Performance At CES, Las Vegas
The curtain raiser of this protocol update happened at Consumer Electronics Show lately which was widely appreciated by everyone. It came out as the biggest surprise of the show revealing the protocol that has the capability to solve biggest challenges of blockchain industry like scalability, privacy, cost and theft in one shot as mentioned by PR News Wire.
The blockchain protocol of Devvio garnered huge success and applaud at the show and it seems like it will now be possible to secure the pinnacle of this industry.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]