Last month, Safe Cash Payment Technologies, Inc. announced that its blockchain can handle up to 25,000 transactions per second, or 3,000 times the number of transactions that bitcoin’s blockchain can handle. In other words, this payments technology company now has the world’s fastest blockchain.
I had the pleasure to speak with Chris Kitze, founder and CEO of Safe Cash about their accomplishment. In the audio recording below, you can hear our discussion about Safe Cash’s transaction time and its mission to give people across the globe access to free and quick money transfer services.
Below you can read the full transcription of our conversation.
Carlo: I wanted to know if you could go into more detail about the transactions per second I mean 25,000 per second that’s pretty incredible. Safe Cash founder & CEO Chris Kitze Chris: We think that’s just a starting point. That benchmark test was run on a single i7 processor… 16 gigs of RAM, and it probably had a 1 terabyte SSD or to 40 gigabyte SSD. It costs about $900 and it’s about 25000 transactions per second and that’s only on one thread. Now if you remember there are 4 cores and 8 threads in an i7 processor.
Now you have to keep in mind, this is a private blockchain. So it’s not a blockchain that is out, distributed out and [where] everyone gets to run a little piece and all that. There are a number of factors, that is one of them. There are a lot of other things that have to go through the blockchain. We started out with the Litecoin [and] Bitcoin code base and that was about 2 years ago. We found a bunch of security problems and also looked at it from the point of view of performance. You can see right […]
