A company states its technology provides almost instantaneous transaction speed and solves the blockchain scaling problem.
Silicon Valley-based startup Splend, specialized in developing solutions to address blockchain scaling issues for instant crypto transactions, announced that it is partnering with Shanghai Code Center Industry, a China-based IT company, to develop the “next generation” network infrastructure for the China Cable Television Network. It is a subsidiary of China Central Television (CCTV), the largest media company in the country, broadcasting to over one billion viewers.
“Through the adoption of Splend’s cutting edge technology, we are planning to build the next network infrastructure, which will overthrow the realities of the current network, enable faster transactions and dramatically reduce costs,” the company’s press release quotes Mr. Quan Laisheng, the president of Shanghai Code Center Industry Ltd.
Shanghai Code Center is also partnering with such brands as Huawei Technologies, Beijing UnionPay, National Gold Card Engineering and other big tech companies in the country.
For Splend, this deal has become the first partnership in China. “It opens new, exciting opportunities for the company, as the strategic alliance with Shanghai Code Center Industry will ensure Splend continued increase in presence in the Asian region and cover new industries,” the press release says.
Integrated Blockchain Architecture
Founded in 2016, Splend provides a systems approach for faster and more secure transactions with its own blockchain technology called Integrated Blockchain Architecture (IBA). The technology allows partitioning or scaling the blockchain’s functionality between software and hardware components. The company says it solves the existing limitations of transaction speed and latency.
According to the company’s Medium blog, IBA will be capable of scaling to billions of users worldwide while “guaranteeing almost instantaneous transaction speed to achieve the optimal user experience.” So far, they claim to have already exceeded current industry tps (transactions per second) implementations that are offered by other major vendors.
The Splend team has already completed developing IBA Technology 1.0, and has launched its first Universal CryptoWALLET. The company calls it “the most secure crypto wallet available on the market, providing a 12-layer security shield against any malicious attempts.” Splend’s network is built on its phishing-proof blockchain, which makes the client’s finance experience relatively safer than other market solutions.
Splend’s users may send cryptocurrency quickly and easily through both Splend’s CryptoWALLET and the IBA Telegram bot. Moreover, it includes cross-platform functionalities, meaning that funds can be sent from any device, be it desktop, mobile or other gadget. Splend has multi-language support and is fully compatible with iOS, Android, web browsers, and Telegram.
The startup plans to offer many zero-fee services, including merchant payment, crypto transfer, crypto-backed microlending, auto payment and virtual card issuance.
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Source: Cointelegraph https://cointelegraph.com/