US start-up Fractonet Innovation Technologies has developed a blockchain that can contain all data within the chain. The company is working with banks and financial institutions to create an open source platform for storing digital assets. Using its RIFT protocol, Fractonet said it can process up to 33,888 transactions per second, enough to store large amounts of data securely and enabling the chain to easily scale up in a way that has eluded other blockchain firms. In time, it also believes that its blockchain could be used for financial services, to monitor supply chains, for medical recordkeeping, in the retail and e-commerce sectors, and other industries. The firm said it is seeking to establish itself as a US-based legal entity.
US start-up Fractonet Innovation Technologies has developed a blockchain that can contain all data within the chain. The company is working with banks and financial institutions to create an open source platform for storing digital assets. Using its RIFT protocol, Fractonet said it can process up to 33,888 transactions per second, enough to store large amounts of data securely and enabling the chain to easily scale up in a way that has eluded other blockchain firms. The firm said it is seeking to establish itself as a US-based legal entity.