Anyone who tried to send some bitcoin over the past few days and found themselves paying a fee of $20 or more—only to wait hours for the transaction to confirm—knows about blockchains’ scalability issues. Bitcoin cash was forked from the main chain to try to speed things up a bit, but the 30-something transactions per second the new cryptocurrency could reasonably process pale in comparison to Visa’s 50-something thousand. Which is why, if Kochava founder and CEO Charles Manning is right, the product his company is building could attract a lot of attention in blockchainland.
He expects XCHNG, a smart contract platform Kochava hopes will disrupt the digital advertising industry, to process millions of transactions per second. “Yeah, millions, exactly,” Manning told me on a phone call last week, in response to an incredulous request that he repeat the number.
“That’s what’s amazing to me, is that financial services folks often point to their transaction volumes and say, well it really needs to beef up. If you want an example of a very difficult, high-volume ecosystem, it’s adtech.
Think of every impression as a trade.” Processing a transaction in 45 or 50 milliseconds is nothing new for the industry or for Kochava, a six-year old company that, until around two-and-a-half years ago, had nothing to do with blockchain.
Maintaining that kind of speed when moving from a centralized model to a decentralized one, though, has so far defied solution. To be sure, XCHNG—which Manning expects to go live at the beginning of 2019—does not rely on proof of work, which would probably preclude even speeds a few orders of magnitude slower than Kochava aims for. Read more from nasdaq.com…
thumbnail courtesy of nasdaq.com