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Study: Blockchain Is Scalable Enough For US Securities Market

14:16 17/10/2018

Distributed ledger technology (DLT) has sufficient scalability to handle the daily transactions volume in the US equity market, according to a study by the clearing company Depository Trust & Clearing Corporation (DTCC). Blockchain can support trading even at peak rates, as reported in the press release.

 

Along with the growing popularity of online trading, the problem of blockchain scalability is becoming more urgent. The risk is that DLT may not cope with high demand for transaction processing. Bitcoin and Ethereum, the largest networks, use blocks of limited size, but the amount of data increases during the peak period, and this can lead to failures.

 

According to the report, the blockchain capabilities allow conducting 115 million transactions per day, or more than 6000 transactions per second during five hours. For the experiment, the researchers created an ecosystem, based on commercial DLT platforms and more than 170 nodes. The experts tested only the basic functions of the blockchain, noting that issues such as security and regulatory compliance require further study.

 

David Treat, a top manager at the partner research firm Accenture, said that the research results boosted confidence in blockchain and proved its ability to hold massive transformations.

 

Earlier, Vitalik Buterin, the Ethereum creator, suggested a solution that can speed up the network to 500 transactions per second. The technology will compress transaction data and protocol as much as possible, and also reduce the gas fees for operations. Moreover, the team introduced the concept of sharding for the Ethereum network.

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