Blockchain startup claims to solve crypto’s biggest challenges

Technology News | January 25, 2019

By Rich Pell

Unveiled at CES, the Devv blockchain technology, say the company, is a high-performance next-gen blockchain protocol that solves blockchain’s biggest challenges – cost, scalability, stability, privacy, and fraud/theft/loss – all in a single solution. According to the company, it can process over eight million on-chain transactions per second, on a global public blockchain, and can process transactions at 1/100,000th the cost of other decentralized application (Dapp) platforms.

“This is Devvio’s coming out,” said Tom Anderson, founder and CEO of Devvio, in a statement announcing the technology’s debut at CES. “It is the first time showing our Devv Blockchain publicly.”

At the conference, the company showed a working version of its Devv blockchain solution. It showcased the technology in highly secure enterprise use cases, such as financial services, data management, privacy, logistics, and identity.

Devv is both a blockchain protocol and a cryptocurrency created by the company. The Devv protocol is primarily addressing scalability, cost, stability, fraud/theft/loss, and privacy issues, while the Devv cryptocurrency can be used for payment in the company’s Blockchain-as-a-Service business.

The Devv blockchain protocol uses a multi-tier blockchain approach, which implements sharding for scalability, and can be scaled to handle a number of transactions over 100x faster than even what credit card networks can manage. The protocol, says the company, is also unique in its privacy solution, which is meant to work within government regulation, its fraud/theft/loss protection capabilities, its Smart Contract solution (using Smart Coins), and its stable coin implementation.

For more, see the company’s white paper: A High-Performance Next-Gen Blockchain Protocol Solving Blockchain’s Biggest Challenges.

Devvio