BitShares 2.0 Plans to Adapt New SmartChains Cryptotechnology


BitShares, a blockchain-based financial smart contract platform has announced the upgrade of BitShares 2.0. The platform is now built on a system known as “Graphene toolkit,” which is developed by an independent blockchain development company founded by the core developers of BitShares, called Cryptonomex Inc.

With the implementation of a new crypto-technology called SmartChains, the soon-to-be released BitShares 2.0 reportedly is set to have the “Speed of the NASDAQ,” with a new “high-performance protocol and engine, capable of handling over 100,000 transactions per second.”

To test its efficiency and capability of the technology, the BitShares team had set up a pilot blockchain with 200,000 accounts, and issued an asset to every account, which involved around a million operations/transactions. After the creation of the blockchain, the BitShares team timed the duration of reindexing the blockchain without signature verification.

According to the press release of BitShares, “A single core of a 2.6 Ghz i7 is able to validate 10,000 signatures per second. Today’s high-end servers with 36 cores (72 with hyper-threading) could easily validate 100,000 transactions per second.”

Criticisms and Improvements

Previously, BitShares received criticisms from the cryptocurrency community and blockchain developers that the slow and inefficient performance of the

Read more ... source: TheBitcoinNews