Blockchain platforms are closing in on the point of adoption, with a recent Deloitte report from organizations surveyed indicating a ten percent increase (to 53%) in blockchain implementation being amongst their top-five strategic priorities. If the stats aren’t enough to convince you that blockchain adoption is on the horizon, then maybe the hype is. However, what is hindering this distributed technology from becoming mainstream?

Public/Private Conundrum

There has been much debate about the nature of blockchain and whether data recorded on such platforms should be public or private. Indeed, most have reached the conclusion that it depends on the concrete use case: private permissioned networks for B2B and public permissionless networks for B2C. This is since some information in private networks is generally for a limited number of participants (i.e. military contracting), meaning this data is kept on less nodes and, therefore, less network decentralization. On the other hand, public permissionless networks need to accommodate any number of participants (i.e. rankings in a contest), with anyone able to read and write data to the network, but the nascency of current blockchains means that all the data transactions can’t be processed at times of high demand.

So with the corporate increase in interest in blockchain implementation, business needs a workable solution that can overcome the scalability and decentralization issues.

Enter Insolar — Pairing Decentralization with Scalability

The Insolar Blockchain Platform is being developed to hybridize blockchain networks, allowing for the interoperability of public and private ledgers. A hybrid approach means permissioned access to high value data, while other aspects of operations and data recorded can be viewed publicly. If we consider a consumer wanting to learn from the manufacturer where and when the cocoa in their chocolate bar was harvested, they should be able to check this via a blockchain portal. Meanwhile, the full name of the harvester or contract details regarding supply chain payments need to be kept private and so will only be accessible to select, permissioned network participants on the same blockchain. This will allow many participants to take advantage of the network and blockchain, boosting the network effect value that the tech offers.

Though the advantages of Insolar go beyond this.

Going the Extra Mile at Speed

Insolar also offers network participants to run their operations and store data on the blockchain without having to deploy a node of their own. In a world of shifting needs, this cloud-based structure is critical to cope with varying demand. Insolar offers this feature without any compromise to security, since users who do not deploy a node do not have to store their secret key with any third-party node provider. Meanwhile, their data can be stored across several nodes via data sharding, thereby keeping data more secure via decentralization.

This is all done at a near-linearly scalable speed, making Insolar one of the fastest blockchain platforms for business in existence. Preliminary tests of the network with internal and external nodes of 20 and above indicated a transaction throughput of over 19,000 per second.

The Insolar Blockchain Platform MainNet 1.0 and Insolar Enterprise Platform SDK 1.0 are set for launch at the end of September this year. They will raise the bar for blockchain technology to a new level.

Read more about the features of Insolar Blockchain Platform.

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