NEW YORK, NY, JANUARY 22 2018 — Enterprise blockchain platform Insolar is thrilled to announce the official launch of its testnet, which will validate its position as the world’s fastest enterprise blockchain platform, by an order of magnitude, with minimum speeds of 10,000 transactions per second. Alongside the launch of its testnet, Insolar also announces a 30 January release date for its platform technical white paper.
Insolar’s testnet comes less than two months after the company was announced to the public. Its impressive speed is the result of a revolutionary architecture that assigns different roles to nodes and distributes storage and processing tasks efficiently among them (see “Insolar Node Architecture Overview” below).
“Insolar’s testnet launch is a major milestone in our aggressive development timeline,” says Insolar CEO Andrey Zhulin. “Our testnet is robust, supports multiple node roles, and will prove one of our most exciting tech innovations, linear scalability, whereby each new node increases performance proportionally.”
Beyond speed, Insolar’s unique architecture strengthens security, decreases costs, and gives companies the ability to process transactions longer than one block and large documents on-chain rather than off-chain.
In addition to its testnet launch, Insolar announces a 30 January release date for its much anticipated technical white paper, a detailed 70-page document covering its platform goals, key features, and core technologies. The whitepaper will emphasize Insolar’s many technical innovations and enterprise-focused features.
“Insolar’s technical whitepaper will be both comprehensive and accessible to a wide audience,” says Insolar Chief Architect and white paper author Kirill Ivkushkin. “It will outline the platform’s many unique capabilities and their real-world enterprise benefits.”
Insolar Node Architecture Overview
- Insolar divides nodes into two groups: Virtual nodes (carrying out processing and validation) and Storage nodes.
- Among Storage nodes, there are two divisions: Heavy Material nodes and Light Material nodes. Heavy Material nodes store partial copies of the entire ledger (partial for increased security) while Light Material nodes store recent history and are used for traffic within the network.
- Virtual nodes handle computing and transactions, but unlike other blockchain platforms, these tasks are not handled simultaneously. Instead, each smart contract is delegated to a single node. In this category, there are also Validator nodes, which approve transactions, and Pulsar nodes, which generate randomness every 1-10 seconds to prevent node collusion.
- The Insolar protocol applies numerous consensus algorithms, based primarily on BFT (Byzantine Fault Tolerance), but offers robust scalability.
- The Insolar testnet will include multiple node roles, including Virtual, Pulsar, and Storage, to mirror upcoming mainnet performance.
Insolar is building an open source, enterprise-grade blockchain platform that uses distributed trust to enable seamless interactions between companies and unlock new growth opportunities. Insolar’s 4th generation architecture, which blends the best of cloud, blockchain, and distributed tech, creates cost efficiencies, opens new revenue streams, and powers transformative business models; it is secure, scalable, interoperable, affordable, and easily deployed. In addition to the platform, Insolar offers full-service blockchain consulting and product development to accelerate companies from proof-of-concept to production. Insolar is ranked #1 among blockchain projects worldwide in development activity, according to GitHub commits and independently verified by Cryptomiso and Coincodecap. It is a global team of 60+ people in North America and Europe, including 35 full-time engineers, 10 leading blockchain academics from major institutions (York University, ETH Zurich, Princeton), and a founding team of serial tech entrepreneurs and enterprise veterans. To learn more, visit: https://www.insolar.io