Cypherium, a global, scalable blockchain infrastructure based on proof-of-work and Byzantine fault tolerance consensus for governance today announced the beta release of its enterprise blockchain.
Today, transaction scalability comes largely at the cost of decentralization, and insufficient infrastructure is impeding enterprise adoption of blockchain technology.
Cypherium Enterprise enables faster transaction speeds than Hyperledger. While Hyperledger can perform 100-200 transactions per second on 10 nodes, Cypherium can perform 2,000 transactions per second on the same setting.
Created by former software developers at Google, Amazon, Microsoft, and Tencent, the team of Cypherium Enterprise has expertise encompassing cryptography, network security, virtualization, and artificial intelligence. Cypherium is advised by Cornell University’s Emin Gün Sirer, who co-directs the Initiative for Cryptocurrencies and Contracts (IC3), and leads research in distributed systems and mining techniques.
“Current blockchain infrastructures have many shortcomings, and this has kept enterprise customers from fully exploring blockchain technology’s potential. We’ve spent thousands of hours developing the fastest and most secure scalable blockchain for enterprise use cases, and are excited to go live with Cypherium Enterprise.”
Cypherium is unique in that it enables thousands of transactions per second while maintaining the permissionless state and security of Bitcoin’s blockchain.
Cypherium will use its Cypher token (CPH) to execute secured transactions on the blockchain, and give users access to a more complex set of smart contract functions, such as sophisticated decentralized apps and implementing deferred payments.