Meet the Color Platform Advisory Team Part 2- Vincent Gramoli
Last time we met Chris Howard, a seasoned entrepreneur and expert in all things technological. Welcome to the second installment of the blog series introducing Color Platform’s illustrious advisors.
It is axiomatic that today’s wonders become tomorrow’s punchlines. We often take for granted today’s ubiquitous, high-speed internet and so might chuckle at the thought of the telegraph as the world’s first information superhighway or even dial-up internet as its next incarnation. Like the telegraph and the internet, Color aims to be a new paradigm in how blockchain technology can help the average person can transact deals and communicate. For this reason, we are pleased to introduce Dr. Vincent Gramoli!
Vincent is currently a professor and the head of the Concurrent Systems Research Group at the University of Sydney, which focuses on distributed computing, and a senior researcher at Data61, the technological research wing of CSIRO, an Australian public research corporation. He has been affiliated with leading research institutions all over the world over the course of his career, including the French Institute for Research in Computer Science and Automation, the University of Connecticut, Cornell University, the University of Neuchâtel, the Swiss Federal Institute of Technology in Lausanne, and National ICT Australia. He has spent his career studying blockchain-related computer science fields, including algorithms, distributed systems, and parallel programming.
Of his many notable research efforts, one of his more recent developments has been attracting global attention. Vincent is developing the Red Belly blockchain, a class-leading blockchain in terms of speed and security. It has proven capable of processing over 600,000 transactions per second, whereas blockchains like Bitcoin are only currently capable of processing 7 on-chain transactions per second (TPS) with current implementations. Even industry leading non-blockchain payment networks like Visa’s are only capable of processing less than 10% of Red Belly’s throughput. What is remarkable is that Red Belly’s performance increases the more participants there are on the chain. Furthermore, the Red Belly blockchain is safe from many traditional attack vectors because it is immune to forking, which is when two or more different versions of the ledger begin to emerge. It prevents a slew of problems, such as double-spending, which is when a user asserts their blockchain ownership rights twice. This security occurs by ensuring that there is a consensus among blockchain users before a new block is assigned.
Vincent’s expertise and experience in this field make him an invaluable resource to have advising our project. We believe Vincent, and advisors like him, will be key to keeping Color Platform on the cutting-edge of not just trends, but security and development that will help ensure Color stay secure, innovative and utilized ahead of its competitors.