PARAMETA has published a report on measuring and improving the performance of loopchain, its own blockchain core.
PARAMETA has published a report covering how the performance of loopchain, its own blockchain core, is measured and how it can be improved.
The report — PARAMETA Technical Report: Measure and Improve loopchain Performance — walks through the technologies needed to improve blockchain performance, how they are applied in loopchain, and the results of testing the performance they deliver. It was written in the hope that blockchain will find wider use in commercial services, and to show that the technology can be applied to everyday services in ways that genuinely make life easier. In particular, it sets out to show that in areas such as STOs (security token offerings) the chain does not have to be a place where balances and transaction histories merely sit — actual business processes such as subscription, dividends, and trading can run on chain, which is where the benefits of blockchain are maximized.
What the report covers
Examples of other blockchains achieving dramatic performance gains through technology that enables parallel execution of transactions
An introduction to the parallel transaction processing technology applied in loopchain 2.0 for high-performance transaction handling, along with performance measurements on loopchain
An introduction to the technology to be applied in loopchain 3.0 for dramatic performance improvement, with projected target performance based on a prototype
Future development and support plans
The parallel execution of transactions described in the report is a processing technique that lets transactions run in parallel when the accounts they involve are independent of one another, dramatically cutting the time needed to execute the transactions in a block. Applying it to loopchain and measuring the results in a suitably configured test environment confirmed high performance of up to 20K TPS (transactions per second).
The report then turns to loopchain 3.0, currently under development with the aim of a high-performance blockchain core reaching tens of thousands of TPS. PARAMETA is targeting a dramatic improvement of up to 100K TPS with loopchain 3.0, which applies technologies including BlockSTM, WMT (Willow Merkle Tree), and Spearmint Consensus, and which will support interchain based on BTP (Blockchain Transmission Protocol) as well as Solidity smart contracts.
loopchain is a blockchain core PARAMETA developed in-house, characterized by a PBFT (Practical Byzantine Fault Tolerance)-based consensus algorithm, smart contracts in Java and Python, trustless interchain based on BTP, and high transaction throughput. loopchain is applied and actively used in the public blockchain networks ICON and HAVAH, and is also deployed across enterprise sites in fields including finance, the public sector, and authentication.
One of the major obstacles to commercializing blockchain has been the failure to raise performance to a level capable of reflecting real-world transactions. PARAMETA has developed loopchain to address that issue to a meaningful degree, and will continue its research to build the highest-performing blockchain.
PARAMETA CTO Hyukgon Ryu
Alongside the report, PARAMETA is also making public all the code and materials used in the maximum-performance testing of loopchain. The report can be viewed and downloaded from the PARAMETA official website, and access to the code and materials can be requested through the loopchain Test Code application page, after which they are provided in the GitHub repository. All the relevant links are below — take a look, and do apply.
View and download the report on measuring and improving loopchain performance
loopchain Test Code application page (for requesting access to the code and materials)
loopchain Test Code Repository (the GitHub repository holding the code and materials; accessible only once your request through the application page above has been approved)
* Once your Test Code request is approved, you will be able to access the repository.
The video below goes into more detail on the background to the technology covered in the report, where things stand, and what comes next. (Presented by PARAMETA CTO Hyukgon Ryu.)
[Reference] Read the post on the PARAMETA tech blog ▼
Report on measuring and improving loopchain performance
Report on measuring and improving loopchain performanceRead the report on measuring and improving loopchain performance ▶ click the imagePARAMETA has published a report covering how the performance of loopchain, its own blockchain core, is measured and how it can be improved.Shall we take a look at the PARAMETA Technical Report: loopchain Measure and Improve Performance?The report on measuring and improving loopchain ...
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[Reference] Read the full PARAMETA press release ▼
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