A new Blockchain Platform, Zilliqa, could change Enterprise

Zilliqa, a project to develop next-generation, high-throughput distributed ledger technology (DLT), announced that their current internal testnet of 2400 nodes was able to process 1,389 transactions per second, a result that they can improve upon in the future.

Zilliqa aims to remove one of the most pressing problems facing blockchain platforms, which is their lack of scalability, as they cannot handle a larger number of transactions per second as the network grows. In fact, existing blockchains are not able to scale for the next generation of Internet-style applications, whereby 7–10 transactions/second (TX/s) are available in Bitcoin and Ethereum today, and the demands of payment processing in centralized operators (e.g., VISA, MasterCard) for supporting thousands of TX/s.

This new blockchain platform is designed to scale in an open, permission-less distributed network without compromising security and resilience. Zilliqa’s scalability is achieved through “sharding”, which is the division of the network into several smaller component networks (called shards) capable of processing transactions in parallel.