Streakk Unveils Blockchain Framework Capable of Handling 100,000TPS
Streakk has implemented a third-generation blockchain infrastructure ahead of schedule by one year. The accomplishment is noteworthy in Streakk’s strategic plan as the organization readies for the release of the mainnet. Streakk’s third-generation blockchain infrastructure enables developers and projects to establish their own blockchains. The third-generation blockchain network of Streakk provides solutions that are highly secure, scalable, and fast. The network charges a fixed transaction fee of $0.001 and can process up to 100,000 transactions per second. The confirmation period for transactions is between 2 and 4 seconds.
Streakk employs a distinctive consensus algorithm by integrating Proof of Stake (PoS) and Simple Time Protocol (STP). The STP protocol integrates a clock into the blockchain to authenticate the time elapsed between two events, thereby utilizing a reliable clock. This feature enables network validators to ascertain the timestamp of events, thereby obviating the necessity of verifying with all the validators at their disposal every time a transaction is recorded.
The initial implementation of blockchain technology is manifested in the form of the Streakk chain, which is a subsidiary chain that has been developed on the Streakk Main Chain. Streakk’s blockchain infrastructure is denoted as the Main Chain, whereas the blockchains created within it are recognized as secondary chains. The validators and governance mechanisms of each side chain are completely independent. Hence, the expansion of this infrastructure can be independently undertaken by central banks, financial institutions, stable currencies, and even private cryptocurrency projects.
Streakk is commencing an incubation program for projects that will be established on the Streakk blockchain in one of three methods:
Advance technical knowledge: Future builders will have access to an experienced Streakk’s technology team that will aim to support all their needs. This way, developers will be equipped with the necessary tools and knowledge to start building.
Strong positioning for marketing: Future builders can leverage Streakk’s over 1.2 million users to expand their projects.
Funding: Streakk will provide funds to companies building on the Streakk Blockchain to build and grow their projects.
On May 11, Streakk declared the release of a blockchain technology that is both rapid and secure. The subsequent day, May 12, Streakk established its testnet, which is an essential measure in readiness for the impending mainnet launch. The testnet enables developers and users to test the third-generation blockchain infrastructure. End-users will have the capability to perform testing and debugging of decentralized applications (DApps) and blockchain protocols, whereas developers will have the ability to test and debug DApps and blockchain protocols.
The Streakk mainnet is scheduled to launch in August, which will pave the way for the development of several community-driven initiatives on the Streakk blockchain.
Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.