+1-888-308-5802     
News Contact Us

Interbit to upgrade InterbitTM platform, signs contract with Xinova

Author : Paroma Bhattacharya | Published Date : 2019-07-13 

Interbit Ltd., a technology platform provider, recently announced progress of its proprietary technology platform, InterbitTM. The company revealed that it would focus solely on the development of the proprietary platform & is testing its performance to allow support of commercial opportunities created by the General Data Protection Regulation mandates and the rise of Edge computing.

Scott Maxwell, COO, Interbit, was reported to say that the fundamental building blocks of InterbitTM have been structured to form the basis of a lightweight & practical infrastructure, that provides the ability to separate & delete data with transparency to address growing concerns around privacy and the right to remove data that are currently being demanded from the market.

As per sources close to the matter, the company’s developers completed several data reconciliation functions & performance tests and verified that installation of single-multi-chain InterbitTM platform could support up to 5 concurrent nodes, with up to 100 Blockchains on each node. The test also verified that the unique chain-joining technology of the platform with a chain-join output of 300 transactions/sec/ chain-join, which is similar to presently used single blockchain solutions, but enables multiple chain-joins that when combined, yield higher performance.

The next step in the development of the platform is to validate that added nodes will enable data distribution over multiple blockchains to increase the rate of chain-joining output & allow extended scalability.

As per credible sources, the company has been taking InterbitTM  platform to the next stage of its progress & as a result the firm has entered into a service agreement with Xinova, a Seattle-based invention network, to review the code & build upon the functionality & market readiness for the platform for the solutions required by the CitizenOS project along with other commercial opportunities.

The review will be conducted by Xinova & its global network of experts who focus on expediting innovation by developing solutions for problems faced by governments & major corporations.

Source credits: https://interbit.io/publications/interbit-announces-a-product-strategy-update-and-contract-signed-with-xinova-llc

About Author

Paroma Bhattacharya

Paroma Bhattacharya

Paroma Bhattacharya, having completed her post-graduation in Journalism and Mass Communication, started her career in writing with resourceful and informative content development across diverse fields. Having dealt in myriad topics ranging from business to real estate, she now pens down articles for fractovia.org and other portals. She can be contacted at- [email protected] | https://twitter.com/paromab1

Related News

MDA chosen to build Canadarm3 robotic elements for NASA-led Gateway

Published Date: 2019-08-21         Author: Paroma Bhattacharya

Canadian robotics and space equipment manufacturing subsidiary of Maxar Technologies, MDA, has reportedly been given two contracts by the Canadian Space Agency to work on Phase A of the Gateway External Robotics Interface, led by NASA. The Gateway External Robotics Interface will act as crucial t... Read More

Hambrecht Ducera Growth Ventures leads funding round for Buoy Health

Published Date: 2019-08-17         Author: Paroma Bhattacharya

Boston-based online diagnostic platform Buoy Health has recently announced the details of its Series B funding round. Buoy is a revolutionary health platform powered by advanced AI and offers users medical support in real time. Buoy’s CEO, Dr. Andrew Le has reportedly stated that while clin... Read More

QFPay secures US$20m in investment to expand digital payment solutions

Published Date: 2019-08-14         Author: Paroma Bhattacharya

QFPay, a China based mobile payment startup has reportedly received USD 20 million in the latest funding round, led by Sequoia Capital China and Matrix Partners, its existing investors. The round also witnessed participation from MDI Ventures (Indonesia), VentureSouq (Dubai) and Rakuten Capital (Jap... Read More

© 2019 Fractovia. All Rights Reserved