NEW YORK--(BUSINESS WIRE)--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.
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