Advisors Join Sharding Blockchain Solution for High Scalability of Transactions
Zilliqa, a company working on a solution to provide a high-speed blockchain platform, is being created by researchers at the National University of Singapore in an attempt to solve the problem of scalability that current blockchains face. The company has now announced that Alexander Lipton, CEO of Stronghold Labs, and Stuart Prior, a fintech veteran with more than years of experience in Corporate and Investment banking technology, have joined the project as senior advisors as the company prepares to release its public testnet and source code to developers.
A new blockchain platform based upon the technology ‘sharding’, Zilliqa enables extremely high-transaction rates and could potentially match the throughput of VISA and Mastercard, the largest electronic payment processors in the world. Earlier this month, the company announced that it had reached 2,488 transactions per second on an internal testnet of Amazon AWS instances. Bitcoin and Ethereum currently process fewer than 10 transactions per second.