According to an independent performance test the Global business technology provider GFT has recently carried out, the Digital Asset blockchain platform is capable of processing trading volumes exceeding 27,000 transactions per second.
17 October 2018, AtoZMarkets - Global business and IT consulting group, GFT has reported the outcome of an independent performance test on the Digital Asset (DA) platform. The result showed that the platform can process trading volumes that exceed 27,000 trades per second over a sustained period of time.
Digital Asset Platform Exceeds Peak Equity Trade Volumes
The test results, according to the Depository Trust & Clearing Corporation DTCC, have demonstrated that the obstacles hindering the adoption of Distributed Ledger Technology (DLT) in the enterprise can be mitigated. The results have also placed the platform above the peak of US equity trading volumes.
While commenting on the results, the CEO of Digital Asset, Blythe Masters said:
“GFT’s performance test demonstrates the throughput capacity of the DA Platform can meet the demands of major markets. We are delighted that GFT’s findings have validated that the highest standards of integrity and privacy do not sacrifice performance. We are very optimistic about what this outcome will mean for the industry at large.”
To confirm the results, DA granted GFT with access to the DA Platform’s code base and a production-like environment to perform a regular trade day for a cash equities market and also a real-time market simulation based on historical data.
A series of test scripts were then carried out to confirm the capability of the platform in supporting 27,000 trades per second, or about 81,000 DLT transaction updates per second.
GFT's Head Sees New Opportunities
Further, the head of GFT’s Atlantic region, David Collins shared his thought about the exercise and his outlook for GFT.
He was quoted as saying:
GFT’s goal is to continually drive innovation throughout the financial services sector and DLT is a key part of this strategy. We believe the rigor of the test scenario’s construction and in the level of performance achieved demonstrates the DA Platform can handle peak trade volumes seen in US equities markets and scale to satisfy the performance requirements of large-scale financial institutions.
The outcome of the performance test will create new opportunities both for GFT and for DA, as the evidence is clear that its DLT-based platform has the capacity to run at the speed and consistency needed on a large scale enterprise solution.
According to Collins, the results have the potentials to quicken the adoption of what he has described as “a completely transformative capability” for the business. The GFT team will give a practical exhibition and further explain the test results next week at the annual Sibos conference that will be held in Sydney.
Digital Asset was founded in 2014 and it claims to be the only distributed ledger platform to have met the production requirements of the world’s biggest financial institutions. Meanwhile, GFT is an IT and software consulting group that offers its services to the global financial services industry. Depository Trust & Clearing Corporation
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