Open Source, Enterprise-Grade Blockchain Platform Insolar Launches Testnet

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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.

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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.

 

About Richard Kastelein

Founder and publisher of industry publication Blockchain News (EST
2015), a partner at ICO services collective Token.Agency
($750m+ and 90+ ICOs and STOs), director of education company
Blockchain Partners
(Oracle Partner) and ICO event organiser
at leading industry event CryptoFinancing (Europe's first ICO event now
branded Tokenomicon)
– Vancouver native Richard Kastelein is an award-winning publisher,
innovation executive and entrepreneur. He sits on the advisory boards
of some two dozen Blockchain startups and has written over 1500
articles on Blockchain technology and startups at Blockchain News and
has also published pioneering articles on ICOs in Harvard Business Review and Venturebeat.  Irish Tech News put him in the top
10 Token Architects in Europe.

Kastelein has an Ad Honorem - Honorary Ph.D. and is Chair Professor of
Blockchain
at China's first Blockchain University in Nanchang
at the Jiangxi Ahead Institute of Software and Technology. In 2018 he
was invited to and attended University of Oxford's Saïd Business School
for Business Automation 4.0 programme. Chevalier (Knight) - Ordre des
Arts et des Technologies at Crypto Chain University and an Advisory
Board Member of International Decentralized Association Of
Cryptocurrency And Blockchain (IDABC) as well as Advisory Board Member
at U.S. Blockchain Association. Over a half a decade experience judging
and rewarding some 1000+ innovation projects as an EU expert for the
European Commission's SME Instrument programme as a startup assessor
and as a startup judge for the UK government's Innovate UK division.

Kastelein has spoken (keynotes & panels) on Blockchain
technology in Amsterdam, Antwerp, Barcelona, Beijing, Brussels,
Bucharest, Dubai, Eindhoven, Gdansk, Groningen, the Hague, Helsinki,
London (5x), Manchester, Minsk, Nairobi, Nanchang, San Mateo, San
Francisco, Santa Clara (2x), Shanghai, Singapore (3x), Tel
Aviv,  Utrecht, Venice,  Visakhapatnam, Zwolle and
Zurich.  His network is global and extensive.

He is a Canadian (Dutch/Irish/English/Métis) whose writing career has
ranged from the Canadian Native Press (Arctic) to the Caribbean
& Europe. He's written occasionally for Harvard Business
Review, Wired, Venturebeat, The Guardian and Virgin.com, and his work
and ideas have been translated into Dutch, Greek, Polish, German and
French. A journalist by trade, an entrepreneur and adventurer at heart,
Kastelein's professional career has ranged from political publishing to
TV technology, boatbuilding to judging startups, skippering yachts to
marketing and more as he's travelled for nearly 30 years as a Canadian
expatriate living around the world. In his 20s, he sailed around the
world on small yachts and wrote a series of travel articles called,
"The Hitchhiker's Guide to the Seas' travelling by hitching rides on
yachts (1989) in major travel and yachting publications. He currently
lives in Groningen, Netherlands where he's raising three teenage
daughters with his wife and sailing partner, Wieke Beenen.

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