Blockchain

BREAKING: Blockchain venture Insolar unveils Testnet 1.1

Insolar is launching the Testnet 1.1 of its open sourced, enterprise focused blockchain platform with participation of external nodes in its network.

It says that a number of corporate and academic partners have reserved their nodes. The Swiss technical University ETH Zurich and Toronto’s York University will be taking part.

In January, the venture launched its Testnet 1.0 with a throughput of over 10,000 transactions per second on 20 nodes. 1.1 coincides with recent improvements in the performance of the Insolar platform. It claims that these have enabled network throughput to increase to over 16,000 transactions per second on 20 nodes. “This makes it the most scalable blockchain platform for enterprise worldwide. As an example, PayPal can only handle 193 transactions per second,” the company states.

Top of the pops

In January, we reported that Insolar had made it to the number one spot on the DPRating list of best blockchain projects, landing a ‘Bb’ rating.

CryptoMiso also ranked it number one for development activity out of 347 projects. Further details here.

Scott Thompson

Scott has been working in technology and business journalism for nearly 20 years, with a focus on FinTech, retail, payments and disruptive technology. He has been Editor of such titles as FStech, Retail Systems and IBS Journal and also contributed to the likes of Retail Technology Innovation Hub, PaymentEye, bobsguide, Essential Retail, Open Banking Hub, TechHQ and Internet of Business.