University of Sydney develops blockchain that processes 440 thousand transactions per second

Academies are increasingly interested in and involved in distributed accounting technology projects, either by pushing blockchain testing or research or by giving lectures and courses on their most beneficial applications. In this scenario that institutionalizes decentralized tools, the University of Sydney , which is Australia's oldest academy and one of the nation's most renowned, has decided to embark on its own blockchain project.

The official website of the institution reported that the Systems Research Group of the School of Information Technology has begun to develop a new platform of distributed accounting technologies that offers faster and safer transactions from anywhere in the world.

The platform was named Red Belly Blockchain and its developers say it is "super-fast" compared to other trading systems. Professor Vicent Gramoli , PhD in Computer Science and head of the project, commented that the blockchain can perform 440,000 transactions per second in just 100 machines ; Numbers that contrast radically with the amount of operations that can realize VISA or the network Bitcoin