New algorithm by AMIS handles more transactions-per-sec

The Istanbul BFT (Byzantine Fault Tolerance) Consensus Algorithm was released by AMIS Technologies
06 July 2017   854

On July 4, AMIS Technologies, a blockchain infrastructure development Taiwan company, announced a new Ethereum-based consensus algorithm.

Ethereum

Is an open-source blockchain-based distributed computing platform featuring smart contract functionality, which facilitates online contractual agreements 

The algorithm is a major breakthrough in the consensus algorithms for Ethereum and it will be incorporated into J.P. Morgan's private Ethereum-based platform Quorum. As the developers claim, it will allow the platform, and any other platform that uses the algorithm, to handle more transactions per second.

The collaboration between AMIS and J.P. Morgan's private Ethereum-based platform Quorum The collaboration between AMIS, J.P.Morgan and the Ethereum community

Blockchain

Distributed database that is used to maintain a continuously growing list of records, called blocks

Alex Liu, CEO of AMIS, contrasted the classic Proof-of-Work method with the new protocol, arguing that "compared to Proof-of-Work (‘mining‘) that is currently in use in many blockchains worldwide, PBFT represents an important step forward in many ways" as "it ensures settlement finality, it speeds up settlement time to under 1 second from the current tens of seconds to tens of minutes, and it reduces energy consumption dramatically". According to Alex Liu, "for the consortium blockchains that most financial institutions are looking to deploy, PBFT represents the only way forward in consensus algorithms."

The algorithm will make Quorum more accessible to institutional users, by introducing PBFT (Practical Byzantine Fault Tolerance), which can scale to their needs by handling a greater transaction load. Go-ethereum client's pluggable consensus engine, a model that is adaptable to different consensus protocols, made it possible to bring together the PBFT protocols alongside Proof-of-Authority consensus, allowing for wide adoption among various application scenarios with differing practical needs.

Julio Faura, head of blockchain R&D at Banco Santander and chairman of the board at EEA , explained that "this is significant advancement in providing enterprises a range of 'pluggable' consensus algorithms, which is a core objective of the EEA". He also added that they are "proud to see EEA members such as AMIS not only contributing in such a meaningful way, but also in collaboration with other members such as J.P. Morgan".

Julio Faura went on to say:

Enterprise adoption of Ethereum has never been stronger, and is getting stronger everyday through efforts like these. 
 

Julio Faura
Chairman of the board at EEA and head of blockchain R&D at Banco Santander

Thomas Hu, CEO of Kyber Capital, one of AMIS's early investors, called this collaboration between AMIS, J.P. Morgan, and the Ethereum community "a great testament of the capability of AMIS and the Ethereum community to meet the mission-critical demands of global financial institutions". He also mentioned that it "establishes a new benchmark for strategic collaboration and co-creation between financial institutions and FinTech startups in global blockchain innovation."

Given that there are many consensus models, the Istanbul BFT Consensus Algorithm would be more desirable to institutions that do not want to use a Proof of Work-based consensus algorithm to confirm blocks.

AMIS continues to work with fellow EEA members including J.P. Morgan, Fubon FHC, and Taishin FHC to develop blockchain applications.

Feb 22: New Crypto Listings on Exchanges

From this article you will learn which cryptocurrencies are listed on exchanges on February 22 of 2018
22 February 2018   121

There is a non-stop turnover of cryptocurrencies on the popular crypto exchanges, and there are a lot of digital coins and tokens being listed on the exchanges every day. From this article you will get to know which currencies and trading pairs will be added to the exchanges on February 22 of 2018.

DADI (DADI)

Exchanges: COBINHOOD

DADI is an acronym for Decentralised Architecture for a Democratic Internet. DADI provides a ready-to-roll Web Services framework with data at its heart, enabling the creation of real time, individually targeted experiences.

dadiDADI charts

Crypto Exchange: COBINHOOD
Category: token
Price at the moment of press: 
$0,4
24h volume: $2 895 490
Website and Explorer

Fusion (FSN)

Exchange: COBINHOOD

FUSION is a public blockchain devoting itself to creating an inclusive cryptofinancial platform by providing cross-chain, cross-organization, and cross-datasource smart contracts.

FSNFSN charts

Crypto Exchange: COBINHOOD
Category: token
Price at the moment of press: 
$3,44
24h volume: $770 519
Website and Explorer

Neuromation (NTK)

Exchanges: COBINHOOD

Neuromation is a blockchain platform (the “Neuromation Platform”) for the distributed generation of synthetic, labeled datasets for training of deep neural networks. The Neuromation Platform implements the principle of “knowledge mining”, which assumes that the computing power of mining rigs not only supports abstract blockchain cryptographic computing but also serves to solve specific practical problems that have a physical meaning.

ntkNTK charts

Crypto Exchange: COBINHOOD
Category: token
Price at the moment of press: 
$0,7
24h volume: $307 699
Website and Explorer

Substratum (SUB)

Exchange: COBINHOOD

Substratum is creating an open-source foundation for a decentralized web which will provide unrestricted access to content and sharing of information for users across the globe. Its mission is to bring forth the free and fair internet of the future by combining proven technological building blocks with emergent technologies in an innovative and holistic way to help solve many of the problems that plague the modern interne

subSUB charts

Crypto Exchange: COBINHOOD
Category: coin
Price at the moment of press: 
$0,6
Market cap: $148 673 215
Website and Explorer

Metal (MTL)

Exchange: Lykke

The MTL Token is an Ethereum ERC20 Token that uses MetalPay's unique Proof-of-Processed Payments (PoPP) to identify and reward users. Metal is a professional grade mobile application and backend that allows users to manage cryptocurrency and FIAT funds. By creating an easy to use interface, Metal bridges the gap between the existing learning curve to use cryptocurrency and the needs of users to interact with traditional currencies for payment.

mtlMTL charts

Crypto Exchange: Lykke
Category: token
Price at the moment of press: 
$4,24
Market cap: $81 804 561
Website and Explorer

Our team is continuously updating all the most relevant information regarding all newest tokens and coins which are hitting the markets and exchanges in 2018.