Based on a Proof of Reputation (PoR) consensus algorithm, Bitconch features minimal viable product (MVP) processing speeds of 120,000 transactions per second (TPS) - claimed to be more than double the theoretical speed of the fastest blockchains today. As a result, it promises to address the slow transaction speeds that are one of the key issues preventing large scale blockchain adoption.
The strategic partnership, say the companies, enhances the scalability of the Bitconch blockchain to advance it as the leading global public blockchain. The Cryptic Labs team will also provide deep security expertise to bolster the Bitconch platform, assuring protection of its blockchain at scale.
"Blockchain technology is reinventing the systems we know today," says Joseph Sadove, CEO of Bitconch. "Together with some of the brightest minds in the blockchain space at Cryptic Labs, we will redefine the architecture of society."
Caesar Chad, Technical Director of Bitconch adds, "Similar to how the full potential of the internet was not understood in the nineties, blockchain is still in its infancy. Blockchain signals a sea change that will revolutionize society as we know it. We are building the internet of value through reputation."