On March 4, 2019, Insolar is launching the Testnet 1.1 of its blockchain platform with the participation of external nodes in its network.
The Swiss technical University ETH Zurich and Toronto’s York University have already reserved their nodes, as well as several bluechip companies, will be participating.
Insolar is a global technology company building innovative public and private blockchain solutions on the Insolar blockchain platform: the most secure, flexible and scalable blockchain for business.
In January 2019, Insolar successfully launched its Testnet 1.0 with a throughput of over 10,000 transactions per second on 20 nodes. During Testnet 1.0, all the participating nodes were hosted internally by Insolar.
Since Insolar’s platform is linearly scalable, each new active network node added to the network allows for the platform’s speed to increase. This makes the speed at which the platform can perform practically unlimited. The significance is decisive: in earlier generations of blockchain transaction speed typically becomes slower when more nodes join the network.
With its unrivalled scalability, Insolar has set a valuable milestone for achieving widespread enterprise adoption of the blockchain, a technology which can revolutionize the way the world does business. Gartner predicts that in the near future, 20% of global economic infrastructure will be running on blockchain-based systems, which will add the colossal US $3.2 trillion in annual business value.
The launch of the Testnet 1.1 coincides with recent improvements in the performance of the Insolar platform. The fixes and enhancements have allowed the network throughput to increase to over 16,000 transactions per second on just 20 nodes. This makes it the most scalable blockchain platform for enterprise worldwide. As an example, Paypal can only handle 193 transactions per second.
Running a node during Insolar’s Testnet 1.1 is free and easy, while network participants can create accounts, generate transactions, and observe network capacity and throughput.
Insolar is building an open source, enterprise-grade blockchain platform that uses distributed trust to enable seamless interactions between companies and unlock new growth opportunities. Insolar’s 4th generation architecture, which blends the best of cloud, the blockchain, and distributed tech, creates cost efficiencies, opens new revenue streams, and powers transformative business models; it is secure, scalable, interoperable, affordable, and easily deployed. In addition to the platform, Insolar offers full-service blockchain consulting and product development to accelerate companies from proof-of-concept to production. Insolar is ranked #1 among blockchain projects worldwide in development activity, according to Cryptomiso. It is a global team of 60+ people in North America and Europe, including 45 full-time engineers, 10 leading blockchain academics from major institutions (York University, ETH Zurich, Princeton), and a founding team of serial tech entrepreneurs and enterprise veterans.
To learn more, visit: https://www.insolar.io.
- Wanxiang Blockchain and PlatON Launch Consortium Blockchain Infrastructure in China - October 7, 2019
- PayPal Quits Facebook Cryptocurrency Project Libra - October 7, 2019
- Walmart To Use Blockchain For Shrimp - October 7, 2019
- Channel Tools adds Blockchain-Driven Verification Service Evident Proof To It’s Kit - October 7, 2019
- Zuckerberg Under Intense Pressure to Testify to US Congress about Libra - October 4, 2019
- Report: Canadian Blockchain Industry Has Some of The Highest Paid Workers in the Country - October 4, 2019
- Bavarian Company RISE Wealth Technologies with Houston-based Entoro, Launching Largest European STO to Date at USD$120 million - October 4, 2019
- October Launch Confirmation for Telegram Open Network (TON) - October 4, 2019
- Liechtenstein Parliament Passes Blockchain Act - October 4, 2019
- Pioneer of Blockchain Certification For The Visual Arts Verisart, Raises $2.5 million in Series Seed Funding - October 4, 2019
- Uruguayan Digital Party to Embrace Æternity Blockchain Technology For Member Voting - October 3, 2019
- Decentralized Trading Technology Startup Vega Raises $5 Million Seed – Pantera Capital Leads Oversubscribed Round - October 3, 2019
- Malta-Based OKEx Kicks Off Global Compliance Standards Initiative for Cryptocurrency Exchanges - October 3, 2019
- Dama Financial and Helix TCS Establish First Blockchain-Fueled, Complaint Cannabis Marketplace - October 3, 2019
- New Digital Rights Law Enacted in Russia – Establishes Basic Definition Of Tokens And Governs Smart Contracts - October 2, 2019
- Six major Japanese Brokerage Firms Establish Japan Security Token Offering Association - October 2, 2019
- Vancouver’s BIGG Digital Assets Cuts Deal with US Federal Government Agency - October 2, 2019
- æternity Teams Up with Uruguay Can to Track Cannabis Production on the Blockchain - October 2, 2019
- Streamr Launches Global Pub/Sub Network For Machine Data - October 2, 2019
- SEC Orders Blockone to Pay $24 Million Fine for Unregistered ICO - October 2, 2019