Scalable Blockchain Hybrid In Works By Former Google and Microsoft Devsbr>
Cypherium is building a hybrid blockchain to provide optimal on-chain scalability.
Led by Sky Guo, the company is comprised of experienced technologists, visionaries, and experts possessing extensive background in cryptography, decentralized networking and software architecture.
Guo holds extensive infrastructure-level knowledge regarding blockchain consensus, transaction, cryptographic algorithms and messaging mechanisms. Guo pursued Bachelor of Science in Computer science at Pepperdine University and received a degree in Entrepreneurship from Draper University. He has conducted extensive research on present blockchain implementations and their source code. In November, 2016, he began developing a new scalable, enterprise viable blockchain infrastructure, and assembled a team of experts from companies such as Google, Microsoft, and Amazon to implement it.
The company is aiming to address blockchain’s scalability and governance issues by combining two consensus mechanisms – Proof-of-Work (PoW) and Practical Byzantine Fault Tolerance (PBFT) consensus mechanisms. PoW is a requirement that expensive computations be performed in order to facilitate transactions on the blockchain. PBFT is a system initially devised for low-latency storage systems – something that could be applicable in digital asset-based platforms that don’t require a large amount of throughput, but do demand many transactions.
Cypherium’s consensus mechanism claims to provide unprecedented transaction throughput and contract execution time through PBFT, while leveraging an ASIC-resistant PoW system for decentralized node election. The company said this will increase blockchain technology’s chances of breaking into the mainstream and will allow cryptocurrency to become a viable payment method for everyday purchases.
“Cypherium has shown promise to mitigate the scalability problem that permission-less blockchains are currently facing,” said Cypherium CEO Sky Guo. “We have all seen problems with scalability that have inconvenienced and angered many. We are happy to provide a resolution to one of blockchain’s largest criticisms.”
Cypherium recently partnered with bloXroute Labs to jointly address the scalability issue. bloXroute Labs is the developer of Block Distribution Network (BDN), a technology that can be applied to any blockchain platform.
“We are very excited to reveal bloXroute, a scalable substrate that is designed to bring on-chain scalability to all blockchains,” said Emin Gün Sirer, Cornell professor and bloXroute Lab’s Chief Scientist. “Cypherium is a great example of a cutting-edge blockchain, and we look forward to using bloXroute to push their scalability boundary to tens of thousands transactions per second.”