Using blockchain technology, Waves Enterprise hopes to separate the chaff from the wheat when it comes to speed promises made by blockchain networks. Thereby assisting potential users in making informed judgments.
Waves Enterprise has created dynamically loading blockchain networks in real-world contexts.
The Real Sin
Since the industry’s inception, transactional capacity has been extensively debated. The first known comment to Satoshi Nakamoto’s announcement of Bitcoin (BTC) was on just this topic. They are in desperate need of such a network, but as they understand it, the idea does not appear to be scalable enough to handle the required volume.
Since then, a great deal has changed. Many alternative consensuses devised protocols and constructed hundreds of public and permissioned blockchains. The problem of speed and capacity, on the other hand, will never go away. Most second-and third-generation blockchains are faster than Bitcoin, or at least promise to be.
Their reported transaction speeds range between a few thousand to millions of transactions per second, depending on the platform. Waves Enterprise’s latest project aims to assess a blockchain’s rate in various real-world settings accurately.
Waves Enterprise’s chief product officer, Artem Kalikhov, told Cointelegraph that their competitors’ unfounded claims of faster speeds hurt their brand.
In addition, he believes that these deceptive assertions hinder adoption. Ongoing education teaches customers how to evaluate blockchains without relying on false claims and in a realistic scenario. Those platforms may frequently produce results obtained under circumstances that are not similar to the client’s use case; therefore, we attempt to convey to customers that they [clients] should first determine how their use case will affect the declared transactional capacity.
For example, encrypted data must be decrypted and re-encrypted at 300 transactions per second.
Kalikhov believes that blockchains that make unrealistic claims will not use the Waves Enterprise platform. He expects things to change in their favor if potential clients start demanding realistic testing.
The development of more accurate KPIs should aid the increased adoption of blockchain technology in the enterprise market.