Blockchain is both praised and criticized – hailed as a cure-all for transparency issues, supply chain logistics and cross-border settlements. It’s a seemingly transformative technology that is slowly entering our everyday lexicon as it touches on almost every conceivable business practice that involves records, verifications, payments, agreements and shipments.
“We concentrated on the main reason why blockchains are slow and we took a very different approach to building blockchains. You can still hold a blockchain’s history and everyone can see it, but we really compress the data,” said Gleb Nikitin, co-founder of #MetaHash. “So when a user sends a transaction, we check the data to see which transaction is up to date. If an end user wants to check it, he can do it in an unlinear way. He can download the micro blocks that he needs. Before a block is verified, all of the nodes have to approve the transaction. And we can use a wide variety of means to check the cryptographic evidence to make sure the data is true. And it can be checked in a fast way.”
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