Splend “is capable of processing instantaneous blockchain transactions for millions of users and devices simultaneously,” according to their September 10th announcement. They call this proprietary technology Integrated Blockchain Architecture (IBA).
According to Splend, the barrier is that current blockchain transaction technology is pre-National System of Interstate and Defense Highways: slow, unsecured and expensive. In other words, Bitcoin’s blockchain is a dirt road, Ethereum’s blockchain is a gravel road, but IBA plans to be the smooth pavement of the 26-lane Katy Freeway of Houston, Texas, the widest freeway in the world.
Before President Dwight Eisenhower signed the Federal-Aid Highway Act of 1956, a lot of the country was made up of actual gravel and dirt roads. Things moved slowly and this was a threat both for trade and for national defense.
One thing that Ethereum converts believe is that Bitcoin lacks speed and affordability. They are in search of quick transaction speed, low fees, high security, transparency and cross-platform accessibility. It comes down to the Proof of Work vs Proof of Stake wars.
Splend addressed blockchain infrastructure limitations in scalability, security, and latency with its Integrated Blockchain Architecture (IBA) technology, ensuring fast transactions speed, low fees, high security, transparency and cross-platform accessibility.
The IBA Flash Network is the first implementation of IBA. It’s layered on Ethereum and works with ERC20 tokens. The IBA is targeted to achieve 1 million transactions per second.
“Blockchain has the potential to become the new dominant network. We, at Splend, aim to power the new Blockchain Network Infrastructure by solving the existing limitations and bottlenecks. Our team has three decades of experience in solving very similar problems during the past computing platform revolutions, and we intend to make the Blockchain network ubiquitous just like the Computer and the Internet”, said Rick Bleszynski, CEO of Splend.
Splend entered into a strategic alliance with Shanghai Code Center to develop the next generation network infrastructure utilizing Splend’s IBA Flash technology for the China Cable Television Network.
“We welcome Splend joining the alliance and are pleased to integrate its innovative technology into our product portfolio. Through the adoption of Splend’s cutting edge technology we are planning to build the next network infrastructure, which will overthrow the realities of the current network, enable faster transactions and dramatically reduce costs,” said Mr. Quan Laisheng, President of Shanghai Code Center Industry Ltd.Leave a comment