University of Sydney researchers to develop a new “red belly block chain” technology


nnnThe University of Sydney (USYD) announced that its researchers are developing a new block-chain technology called the “Red Belly Blockchain”, which they believe is likely to revolutionize the global economy. It is said that the block chain is built on the basis of a frontier consensus study that can maintain the integrity of the public union both in the event of a crash or attack and that it can achieve an unprecedented amount of work – more than once per 100 machines 44 million transactions.n
nnTranslation: Clovern
nThe University of Sydney (USYD) announced that its researchers are developing a new block-chain technology known as the “Red Belly Blockchain”, which they believe is likely to revolutionize the global economy.n
nWhich in the website said:n
nn”The word” red belly “comes from the Sydney, Sydney area, the unique snake, red belly block chain based on the front of the consensus study to build, regardless of the collapse or attack can be able to maintain the integrity of the public alliance.n
nnThe red belly block chain can handle more than 44 million transactions per second on 100 machines, providing an unprecedented amount of work. The security aspects of block chains are critical to important industries such as banks and payments.n
nThe University of Sydney’s research team includes postdoctoral researcher Tyler Crain, doctoral student Chris Natoli, passionate entrepreneur Gary Shapiro, scientific researcher Michael Spain et al. The researchers, in collaboration with Data61-CSIRO, demonstrated the limitations of bifurcated block chains such as Bitcoin and the Etherhouse. They also explain how to initiate a balanced attack that triggers double spending, including stealing assets from the block chain.n
nZDNet reports that the new block chain system is being developed by the Institute of Information Technology at the University of Sydney and is expected to realize real-time digital transmission of digital money on a global scale, which is considered to be faster than companies such as credit card giants Visa Then
n”In our recent tests, our block-chain technology system has achieved the best performance we’ve seen so far – the best performance we’ve ever seen -” said Vincent Gramoli, Ph.D., Ph.D., PhD, Ph.D. 100 machines handle more than 44 million transactions per second, compared to 56,000 transactions per month for Visa networks, while Bitcoin ‘s capacity is limited to about seven transactions per second.n
nThe University of Sydney says the “red belly block chain” is the first block-chain technology to build work in both public and private environments. This allows transactions to be done in a point-to-point manner and can be done in an industry environment that is limited to specific users.n
nThe University of Sydney also said that the next phase of the block chain system development goal is to develop a recommendation system that automatically selects a participant of a consensus instance.n

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