News Contact Us

Interbit to upgrade InterbitTM platform, signs contract with Xinova

Author : Pankaj Singh | 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

Pankaj Singh

Pankaj Singh

Endowed with a post graduate degree in management and finance, Pankaj Singh has been a part of the online content domain for quite a while. Having worked previously as a U.K. insurance underwriter for two years, he now writes articles for fractovia.org and other online portals. He can be contacted at- [email protected] | https://twitter.com/PankajSingh2605

Related News

ByteDance could lose $6 billion following recent TikTok ban in India

Published Date: 2020-07-03         Author: Pankaj Singh

The latest decision taken by the Government of India to ban 59 Chinese smartphone apps is trending worldwide, especially across China. As per a report by China’s Global Times, ByteDance, the parent firm of Helo and TikTok, is likely to incur a loss of about $6 billion after this imposed ban by... Read More

Oyo suspends MGB contracts for property owners due to reduced revenues

Published Date: 2020-07-01         Author: Pankaj Singh

The adverse impact of COVID-19 pandemic is becoming more and more evident across the world. It is being speculated that  nothing of this magnitude has been observed for more than 100 years since the 1918 Spanish Flu pandemic. Till now, over ten million people have been infected in over 200 nati... Read More

Universal Studios postpones the opening of Nintendo-themed area

Published Date: 2020-06-30         Author: Pankaj Singh

The ongoing COVID-19 pandemic has claimed the lives of over half a million people and affected more than ten millions around the world. As the current situation is worsening, many world events as well as the opening of theme parks have been canceled or postponed in order to reduce the spread of the ... Read More

© 2020 Fractovia. All Rights Reserved