Metadium Enterprise has the fastest Transaction Processing Speed (TPS)
Coinplug’s private blockchain platform, Metadium Enterprise, was recently tested by the Korea Telecommunication Technology Association (TTA) under the Ministry of Science and ICT of South Korea. The results show that the Transaction Processing Speed (TPS) of Metadium Enterprise is faster than many other blockchain platforms, getting 4,258.2 transactions per second.
Our CEO, Ryan Uhr, said “With this report from the TTA we prove, once again, the technical skills of Coinplug, the first generation blockchain company in Korea and the number one holder of blockchain patents in the world.”
The TTA Software Testing and Certification Research Institute is a state-approved software quality testing and certification institution that has provided software testing and consulting services since 2001. The institution is conducting a project to support blockchain service security and performance as part of the ICT fund project of the Ministry of Science, ICT and Government Administration.
Metadium Enterprise: a private blockchain
Private blockchains are private platforms that require permission to obtain, read and write rights on that blockchain. This increases data processing and prevents leaks of information while distributing sensitive data through the blockchain.
Before Metadium Enterprise, Coinplug launched ‘Fidoledger’ in June 2016 and succeeded in commercializing the private blockchain-based authentication service for KB Card. This was the first time in the world this kind of blockchain-based service was commercialized.
Blockchain-based authentication services are recognized as the next generation of authentication services. The technology allows to store authentication-related information distributed across multiple ledgers, increasing service reliability without depending on specific agencies, and its expanded concept, Decalized ID (DID), has recently emerged as a major topic in the industry.
Coinplug is developing a DID-based service, led by its own DID solutions Keepin and MyKeepin, and plans to apply it to various public and private projects, including the blockchain regulatory zone project in Busan.
“With the advances in blockchain technology, especially DID-based authentication services, it will be difficult to find a reason not to introduce the system to your business,” said Ryan Uhr. “The technology has many advantages, such a cost reduction of managing the personal database and reducing the risk of information leakage.”
Ryan Uhr concluded “For those companies wishing to introduce blockchain technology to their business, we would like you to consider Coinplug, which has proven security and performance.”