Radix, a public trustless decentralized ledger, plans to replay 10 years of Bitcoin transaction history with full signature and transaction validation in under an hour.
Radix describes itself as a new layer for the internet, where data, money, and other assets can be transacted quickly and easily.
The network only applies consensus to conflicted events allowing more efficiency and scalability.
Radix can run on almost any device since it is API driven allowing for an endless number of devices from TVs to smartphones to be able to connect to the network.
On June 12, at 9:30 AM Eastern Time, Radix replayed the entire 10 years of Bitcoin's transaction history on its ledger, with the full transaction and signature validation, on a network of over 1,000 nodes distributed evenly throughout the world.
Radix announced on Twitter they achieved 1,089,887 transactions per second during the test.
Today, while replaying #BTC history, we've peaked at over #1MTPS! In case you have any questions about our test, head on to https://t.
With the mission to "Give anyone, anywhere friction-free access to the digital economy," Radix emphasizes that it has built a protocol that can work for 7.5 billion people and 500 billion devices simultaneously.
The team has been running different tests on the network to simulate real-world conditions and on its latest one, it was able to reach more than 1 million transactions per second.
Different analysts, such as Willy Woo, are excited to see whether Radix will be able to run the entire Bitcoin ledger transaction history, which has more than 460 million addresses, within an hour.
Blockchain startup replaying 10 years of Bitcoin transaction history in an hour
Published on Jun 13, 2019
by Cryptoslate | Published on Coinage
Mentioned in this article
MetLife, the world's sixth-largest insurance company, using Ethereum to transform life insurance
MetLife, one of the globe's largest providers of insurance, is using Ethereum to transform the life insurance claims process.
LINE's Crypto Exchange Could Win Japan License This Month, Report Says
Japanese messaging giant LINE may soon be able to open a cryptocurrency exchange for users based in the country, according to a report from Bloomberg.
Facebook's Libra sparks privacy concerns while Monero, Zcash, Zcoin and Grin surge
Monero is sitting at a pivotal point based on the 3-day chart.
Blockchain Video Startup YouNow Files With SEC to Give Away Tokens
The New York-based startup has filed a Reg-A+ offering circular for its Props token with the Securities and Exchange Commission - even though it isn't selling them to investors, accredited or otherwise.