Research and developpement
Even large-scale applications deserve an unforkable blockchain. Endemic to Sydney, Australia, the Red Belly Blockchain builds upon cutting edge consensus research to preserve integrity world wide regardless of failures and attacks.
The latest trial from the University of Sydney’s Red Belly Blockchain running on Amazon Web Services (AWS) has clocked 30,000 transactions per second with an average transaction delay of 3 secs.
Researchers at the University of Sydney in Australia have concluded new trials of a hybrid blockchain that sits between public blockchains like that of bitcoin and ethereal and consortium blockchains like R3.
Developed exclusively by the university’s School of Information Technology, the academic researchers claim the fork-free Red Belly Blockchain can rapidly scale transactions compared to the likes of the bitcoin blockchain.
“There’s public blockchains like bitcoin and Ethereum that don’t try to solve consensus ahead of time … but then later try to avoid forks … which means the latency is quite large,” University of Sydney’s Dr Vincent Gramoli, who heads up the development group, told the Australian Financial Review.
The bitcoin blockchain can scale seven transactions per second with an average confirmation time of 10 minutes (September 10 figures from blockchain.com). The ethereum network can scale up to 20 transactions per second amid ongoing chatter involving co-creator Vitalik Buterin for a plan to scale up to 500 txs/s.