A next-generation blockchain platform that its creator Devvio claims is the fastest and most scalable in the world has been demonstrated for the first time at CES 2019.
The platform, Devv Blockchain, is designed primarily for enterprise use, particularly for those companies requiring high security. This makes it suitable for use in industries such as financial services and data management, as well as in any company needing to manage privacy, validate identities or handle logistics.
At present, blockchain technology has been proposed for such applications, but real-world use has remained very limited.
Next-generation blockchain platform Devv vs Ethereum
Devv Blockchain is designed to be dramatically more efficient that established blockchain protocols, which allows it to engage in far more transactions per second at a lower cost.
For example, while leading blockchain protocol Ethereum can currently handle 15 on-chain transactions per second, Devvio says Devv can process more than 8 million in the same time.
This efficiency also translates into vastly lower costs, with Devvio claiming its system processes transactions at 1/100,000th the cost of other decentralised application blockchain platforms.
Devv Blockchain to be showcased at CES
The technology will be showcased publically for the first time at CES this week, where technology entrepreneurs, industry professionals and would-be users can get a first look at Devvio’s offering.
“This is Devvio's coming out,” said Tom Anderson, founder and CEO of Devvio.
“It is the first time showing our Devv Blockchain publicly, and CES is an ideal conference for us to showcase all of our work over the past two years, as most of our potential enterprise customers have strong attendance there.
“It is going to be an exciting show for Devvio, and to me, represents the beginning of our journey to become the leader in the blockchain space.”
The showcase is one of a number of blockchain-related announcements at CES this year, with trading platform Cryptohopper also announcing a new feature to buy and sell trading bots.