Although blockchain came into existence in 2008 with the first cryptocurrency, bitcoin, this technological platform can be applied to many other innovations that have nothing to do with money. Blockchain holds promise for networking, transportation, real estate, energy management, government, public records, cybersecurity and more.
However, there’s a growing need for faster and better blockchain solutions. The high-performance blockchain will solve scaling issues that many current blockchain platforms face, such as low transactions per second (TPS) and long confirmation times (latency).
The High-Performance Blockchain allows for scalability with innovative hardware and software architecture that caters to high-frequency needs. This includes the Internet of Things (IoT) ecosystem.
The High-Performance Blockchain features:
- A chip-level acceleration engine that provides accelerated hardware chips to power the entire ecosystem.
- Software integrated with a new dedicated hardware accelerated engine, focused on depth and scaling customization.
- The ability to produce a throughput in the millions of transactions without any major problems.
High-Performance Blockchain in the Art World
One example of a high-performance blockchain platform is ArtChain Global’s Blockchain Works of Art Registration and Asset Management Platform. This proprietary high-performance blockchain solution will help end the trade of fake or stolen works.
Focused on the registration and verification of ownership of art products, art asset management, and the pledging of art products, ArtChain Global provides a basis for the trading of art and a trustworthy distributed ledger by taking advantage of traceable and unalterable features of blockchain.
ArtChain Global’s “currency” is the ACG token. Similar to the way that bitcoin works, the accounts of ACG owners will correspond to a certain public key. Their account information will be recorded in the universal ArtChain Global ledger and the digital summaries of all account information will be recorded in blocks.
This platform requires a number of functional components to work effectively, such as network communication, blockchain data structure, training modules and consensus mechanisms. ArtChain Global can also be integrated with IoT smart modules to provide tracking for works of art.
Blockchain is set to disrupt a variety of industries, and holds tremendous potential for the IoT-connected world. To understand more about how blockchains work, check out Special Report: Blockchain World.
To help your organization prepare for how IoT will change business, register your company for the IEEE Guide to the Internet of Things, a valuable eight-course program led by top researchers in the field.