Overcoming the scalability problem of Blockchains
Change is the main driver of innovation. In order to innovate, we need to disrupt current systems and rethink how consumers, industries, and businesses operate from the ground up. Blockchain technology is one of the advancing technologies that promise to disrupt many different industries by shifting the trust from a central authority to a distributed model. It is no longer required that a single entity is trusted to store and process all data from users. Where in the past cross-company cooperation was limited due to lacking trust, Blockchain technology can breach these barriers and accelerate new exciting use cases that will shape the world of tomorrow. With distributed trust, we can limit the control current data monopolies have over our data and that we need to trust that they handle our data responsibly and respect our privacy.
However, the adoption of Blockchain technology and their new exciting use cases is slow and projects rarely leave the conceptual stage. One of the main hurdles of Blockchain mass adoption are underlying technical limitations such as low confirmation speed and transaction volume as well as high transaction costs. With Perun, we are tackling these challenges in developing the “one-fits-all” solution to finally overcome the technical barriers of Blockchain mass adoption. We want to empower the next stage of Blockchain use cases and adoption in different industries such as mobility, energy, finance, e-commerce, telecommunication and many more.
The first stage of achieving our vision of real-time Blockchains is the Perun framework.
The Perun framework is an exciting open-source technology for securely scaling any Blockchain and transaction system. It can be added as an extension on top of already existing systems such as Ethereum, Hyperledger Fabric or even centralized ones used by payment service providers for example. The framework accelerates genuinely decentralized applications that perform at high-speed and low-cost by employing cutting edge cryptography to ensure high security and quality standards.
The Perun framework adds scalability, especially for highly frequent and small transactions, and provides a cheap, fast, and secure transaction system. It enables connected users to send secure off-chain transactions that are not stored on the Blockchain. The underlying cryptographic protocols ensure that these transfers are secure in any step of the way. They have been published at renowned peer-reviewed conferences worldwide. Coming from a cryptographic background, Perun has evolved from a joint research project from cryptographers of the TU Darmstadt and the University of Warschau into a spin-off with high ambitions.
The Perun framework is a major step forward in the mass adoption of Blockchain applications because of many unique features that set it apart.
Blockchain-agnostic: The modular approach enables the flexible integration of Off-Chain technology into any Blockchain system.
Interoperability: Perun enables transaction execution across different Blockchain systems (Cross-Chain functionality)
Perun’s channel virtualization: With the help of virtualization technology, P2P microtransactions can be carried out in real-time, offline and with minimal effort over NFC, Bluetooth or other types of connections.
Modularity: The Perun framework can be adopted into many different environments since all the components are interchangeable and use state of the art software architecture practices that ensure flexibility and crypto agility.
High security: The Perun protocol specifications have been mathematically proven using the latest methods of security research.
Thanks for reading!
If we have gained your interest in learning more about exciting new Blockchain use cases or if you think that the Perun framework can help to increase the scalability of your Blockchain solution, feel free to contact us.
Stay tuned for more information regarding new exciting Blockchain use cases and how we solve them with cutting edge technologies at play. Further we want to give insights into how our research can solve the challenges of tomorrow.
For more details, you can visit our website perun.network or check out our Github (perun-network).
You can also follow us on LinkedIn (Perun) and Twitter (PerunNetwork).
