The Power Blog

The Power_blockchain = high speed transactions. Part I

Here is a quick summary of our project.

Our dream is to make blockchain as powerful as it could be. And we hope you will join us to make it possible tomorrow.

Achieving Instant 100,000+ on-chain transactions and real-time auto scalability through sharding in the real working blockchain network.

The innovative blockchain technology presents undeniable benefits when it comes to increasing the competitiveness of virtually any business. Through complete automation of process on the vertical of the digital environment, companies and individuals can enjoy complete immutability, transparency, simplicity, and efficiency.

However, existing blockchain solutions, for the most part, fail to provide the necessary scalability as well as efficiency to service fully operational businesses at the level at which traditional solutions do. This is where The Power steps into the picture.

The Issues That Need Solving

The innovative Distributed Ledger Technology (DLT), more commonly referred to as the Blockchain, has already revealed a number of its prominent advantages. For the same reason, existing prominent enterprises such as Facebook, LG, Oracle, Microsoft, and others alike, are stepping into the field, attempting to harbor its tremendous capacities.

However, the wide majority of existing blockchain networks fail to achieve the necessary scalability to satisfy the sheer amount of transactions that they have to carry out.
If blockchain is to become a technology which is fully integrated within our day-to-day lives and all of their aspects (much like the Internet, for instance), the scalability issue needs to be handled. But as it is, Ethereum’s network handles up to 15 transactions per second (TPS), EOS handles up to 6,000 TPS, Ripple — up to 1,500 TPS, Bitcoin — no more than 6 TPS, and so forth. In other words — the largest currently existing blockchains are fairly inefficient in their scalability.

The Solution

The Power is an innovation in the field of blockchain — a project, which has already succeeded in solving one the field’s biggest issues. It introduces a network which is capable of carrying out more than 100,000 transactions per second through real-time automatic sharding.
The Power has created a platform there technologies and product solutions for business, finance, main branches of the economy and public sector are presented. On platform trades are executed instantly and automatically, regardless of the counterparty’s trust in each other.
Operations speed in the Power system is exceeding speed of other existing digital payment systems. Operations in the system are performed at a speed of 100'000 to 1'000'000 operations per second. Previously, this speed was considered unattainable.

B2B, B2C, and Crypto Taken to Another Level

At the B2B level, the platform can be integrated with electronic and automated systems, registries and databases, banks and payment systems, enterprise management systems, sales automation etc. unites various systems “seamlessly”, thereby reducing costs and transaction time, making processes of sales and payments faster.

At the B2C level, significantly saves time and nerves of users, conducting simple and inexpensive tasks which before have taken a lot of personal time to complete. For example, instant signing of contracts with simultaneous notarial certification, instant purchase of real estate with property registration and safe payment, or unlimited payments without banks and commissions — all this will be possible online without leaving home on platform.

At the crypto level, the technology allows to integrate for users divided crypto platforms, like DEX (decentralized exchanges), with real-time liquidity swap deals with no need of security deposits by virtue of synchronous consensus with instant transaction logging.
The Power develops micro-service modules, which, just like small cubes, can build a business of any configuration. Modules interaction with external objects is supported through the API. Such modules create a kind of bridge between the instant reliable data networks of and traditional control systems — CMS, CRM, ERP, etc.
The Power platform will contain templates of smart contracts, private blockchains, contracts and digital entities — analogues of real-world objects in the digital environment. Templates may be easily adjusted to a specific project. Each user can select the proper template and configure it. Independent platform developers participate in the platform performance, helping to set up smart contracts for specific purposes.

Please find the second part of summary here.