TodaCorp and Algorand have announced that they will enter into a joint venture known as Toda-Algorand Corp. in order to deliver a decentralized transaction platform combining the ledger-less ease and scalability of cash payment systems with a flexible ledger-based technology. The platform will also enhance and incorporate the features of existing financial payment systems. The Toda-Algorand joint venture is capable of providing a digital representation for almost anything of value, including energy units which can subsequently enable a secure exchange inside and outside of the grid.
The Toda-Algorand platform is designed to have a throughput of over three million confirmed transactions per second and can serve over four billion users securely. It will combine blockchain, authored by Turing Award winner Silvio Micali, with secure decentralized on-chain ledger-less TODA protocol, co-authored by Toufi Saliba, to deliver an integrated, high-performance packaged solution. The Toda Protocol is in the process of pursuing ITU-T standards TODA-T for on-device global communication deployments beneath the OS on the same level as TCP/IP.