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

SES becomes first satellite operator to partner with Amazon Web Services

Published Date: 2021-06-18         Author: Pankaj Singh

Luxembourg-based satellite and terrestrial telecommunications network provider SES Networks has reportedly joined Amazon Web Services (AWS) Inc.’s ‘Direct Connect Delivery Partner’ program. Following a review of technical and business processes, Amazon’s subsidiary AWS app... Read More

Assurant expands to South Korea by acquiring Olivar’s additional shares

Published Date: 2021-06-17         Author: Pankaj Singh

Global risk management product & service provider, Assurant Inc., has announced its acquisition of the remaining shares in Olivar Co. Ltd., a South Korean mobile lifecycle management solutions company. The acquisition is in keeping with the company’s long-standing commitment to deliveri... Read More

JOOR to use freshly secured USD 46 million to expand its service reach

Published Date: 2021-06-16         Author: Pankaj Singh

JOOR, a prominent New York-based digital wholesale platform, has reportedly secured USD 46 million in a Series D funding round led by Macquarie Group Limited, an Australia-based multinational financial services company. The round also saw participation from previous investors such as Canaan Partn... Read More

© 2021 Fractovia. All Rights Reserved