Blockchain Scalability Issues Being Tackled With æternity and Erlang Solutions Partnership
An open-source, distributed computing platform that builds on decentralized cryptographic P2P technology, æternity has announced a partnership with Erlang Solutions, a Erlang and Elixir consultancy, to scale its distributed system and peer to peer network and bring its blockchain technology to the masses.
Founder of æternity, Yanislav Malahov said: “As scalability issues continue to plague modern blockchains, innovative, comprehensible, and truly revolutionary solutions must be pursued if they are ever to achieve widespread adoption. We are thrilled to be collaborating with Erlang Solutions to strengthen our work towards overcoming these challenges and are eager to bring our ground-breaking technology to billions of users worldwide.”
The platform is designed to deliver unmatched productivity, transparent governance and global scalability. Approximately 29 million CHF was raised in its campaign to offer blockchain technology with a consensus mechanism that is as efficient and cost-effective as possible. Programming complex relationships for a global user base, æternity can handle large volumes of products and information in parallel. Its state channel design enables the off-chain verification of data and smart contracts, allowing for all transactions to be independent of each other, increasing transaction speed and scalability while also ensuring increased privacy.
With the support of Erlang Solutions, which will assist in scaling æternity’s distributed system and peer-to-peer network by providing fault tolerant systems capable of scaling to billions of potential users, æternity intends to utilize Erlang, the domain specific language, to drive the mainstream adoption of blockchain technology. This partnership will also strive to tackle consensus mechanism-related challenges, which have already been identified as problematic for blockchain developers.
Francesco Cesarini, Founder of Erlang Solutions, stated: “Specializing in providing truly scalable solutions through the creation, integration, delivery, and lifetime support of products and services based on the Erlang programming language, we are extremely keen to begin working with a company as innovative as æternity, and believe that both sides with benefit immensely from this partnership,”
Malahov concluded: “Erlang Solutions is renowned for its technical talent, and having already embedded some of its engineers and architects in our development team, we have no doubt that Erlang Solutions will play a crucial part in building out an extremely strong core team. Having numerous clients around the globe spanning from startups to Fortune 500 companies, Erlang Solutions has gained invaluable experience and thrives when working on complex cases and providing solutions to distributed systems,”