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Measure and Improve loopchain Performance
2023.10.23
Measure and improve loopchain performance
To view the report ‘Measure and Improve loopchain Performance’ ▶ Click Image
Greetings from the PARAMETA Team,
We are pleased to announce the release of a report on how we measure and improve the performance of our blockchain core, ‘loopchain’.
Let’s take a look at the PARAMETA Technical Report : Measure and Improve loopchain Performance.
The report covers the technologies needed to improve the performance of blockchains and the results of tests on how these technologies can be applied to loopchain and to what extent they perform. This report was designed to show that blockchains can be used for commercial services, and that they can be practically applied to everyday services to provide convenience. In particular, we wanted to show that blockchains can be used to maximize the effectiveness of STOs by enabling the actual business itself, such as subscription, dividend, and trading, to be performed on-chain, rather than just storing balances and transaction history.
<Measure and Improve loopchain Performance> Content Organization
Examples of other blockchains realizing dramatic performance improvements through technologies that enable parallel execution of transactions (Aptos, Solana)
Introduction of transaction parallelism technology applied to loopchain 2.0 for high-performance transaction processing and performance measurement results on loopchain
Introduction of technologies to be applied to loopchain 3.0 for dramatic performance improvement and target performance estimates through prototypes
Future development and support plans
loopchain’s Parallel Execution of Transactions, introduced in this report, is a processing technology that dramatically reduces the time required to execute a block of transactions by allowing transactions to be executed in parallel if the accounts involved are independent of each other. After setting up a suitable environment for testing, we applied this technology to the loopchain and measured the performance, which was up to 20K TPS.
The report goes on to discuss loopchain 3.0, which PARAMETA is currently developing with the goal of a high-performance blockchain core with tens of thousands of TPS. With loopchain 3.0, which will apply technologies such as BlockSTM, WMT (Willow Merkle Tree), and Spearmint Consensus, and support Blockchain Transmission Protocol (BTP)-based interchanges and Solidity smart contracts, PARAMETA is aiming for a dramatic performance improvement of up to 100K TPS.
loopchain is a blockchain core developed by PARAMETA that is characterized by its PBFT (Practical Byzantine Fault Tolerance) based consensus algorithm, Java and Python based smart contracts, BTP based trustless interchain, and high transaction processing performance. loopchain is actively used in the public blockchain networks ICON and HAVAH, and is also being used in the enterprise space for various sites in the financial, public, and authentication fields.
In addition to the report, PARAMETA also releases all the code and data used in the largest performance measurement test of loopchain. You can view and download the report <Measure and Improve loopchain Performance> below, and access to the code and data can be provided after applying through the ‘loopchain Test Code Application Page’.
Check and download the report <Measure and Improve loopchain Performance>
loopchain Test Code Application Page (to apply for access to code and materials)
loopchain Test Code Repository (GitHub repository where you can view the code and materials, which can only be viewed by obtaining permissions after applying on the above application page)
* You can access the repository after applying for Test Code and being approved.
You can also watch the video below to learn more about the technical background, progress, and future plans for the technologies covered in this report.
One of the major obstacles to the commercialization of blockchains has been the inability to improve performance to a level that reflects real-world transactions. PARAMETA has developed loopchain, which solves this issue to a certain extent, and will continue to develop the highest performance blockchain through continuous research.
