Billon Shows Off Its Blockchain Scalability
While the United States enjoyed its annual Thanksgiving festivities, the UK was carrying on with another project. Specifically, Billon—a company focused on blockchain operations—revealed benchmark testing that showed its systems were capable of processing payments at impressive rates.
Billon’s benchmark actually reached the 130 million transactions level in a single day, which represents a great step forward for the blockchain that underpins so much of cryptocurrency and mobile payments. Using a multi-channel distributed ledger system made entirely in-house, the tests confirmed that Billon’s blockchain advancements were of sufficient power that they could be used in a variety of situations, including national and global-level operations.
This actually addresses one of the main problems commonly associated with blockchain: that it’s not capable of reaching the proper transaction load to be useful on a wide scale. Yet with Billon’s new technology, the currency can be processed without the need for intermediaries like minors or exchanges. Thanks to this new system, Billon can actually present a credible alternative to even Mastercard or Visa.
Billon’s founder and CEO Andrzej Horoszczak noted “ We are pleased that these results validate the hard work of our team of world class engineers, especially as our benchmark test was conducted on a global cloud network. This is the exact same production code that has been deployed in places like the United Kingdom. In the next stages, we will be able to add more nodes to achieve even faster throughput.”
The idea that cryptocurrency could be more readily useful—when it’s being compared to Visa and Mastercard you know it’s got some serious infrastructure behind it—takes it from novelty to actual potential powerhouse. The funny thing about most money these days is that it’s what’s called “fiat currency,” or “it’s money because someone says it’s money.” The notion that cryptocurrency could become the fiat currency of the internet represents a lot of strange new potential effects, effects that governments worldwide will likely want to nip in the bud as fast as possible.
Still, for right now, Billon has advanced blockchain in a way few thought possible before now. The long-term ramifications of this are for the long-term, but there’s at least one potential future that involves a lot more cryptocurrency and some very unhappy governments.