What once started as a means to manage the database that records Bitcoin cryptocurrency transactions is today fast becoming a mainstay for BFSI, logistics, and many more sectors. Blockchain, as it is known, facilitates real-time transactions (such as the exchange of assets or data) through its automated, decentralized network and places them on a permanent, public ledger that can be trusted by all parties. A blockchain-based database offers many benefits over a trusted intermediary such as faster transactions, automatic reconciliation, lower cost of audit, regulatory compliance, and improved transparency. This chain can grow to accommodate newer transactions; and there lies the challenge. The larger the chain grows, so do the challenges related to storage, computing power, and bandwidth necessary to process vast amounts of underlying data. Driven by superior blockchain technology, Heat Ledger enables all the nodes to participate in the network efficiently and fulfill the requirements for storage, bandwidth, and compute power. The firm combines technical innovations into its crypto platform to increase transaction throughputs, scalability, and usability of blockchain-based data systems.
“The HEAT platform through its technology stabilizes and equalizes these fluctuations in network and hardware quality, which in turn ultimately decreases the latency time and improves throughput, speed, scalability, stability, and security of the network,” says Svante Lehtinen, CEO, Heat Ledger.
Not unlike peer-to-peer network torrent file sharing, we distribute the storage requirements throughout the network, significantly boosting the transaction throughput by orders of magnitude
The firm’s intuitive crypto platform is a feature-rich and flexible solution capable of effectively processing blockchain-based transactions irrespective of whether they are public or privately commissioned.
The HEAT platform allows cryptocurrency operators, initial coin offering (ICO) issuers, and other digital asset operators to seamlessly trade their assets with participants on a blockchain network and distribute tokens as a way to incentivize them. Every participant in the network gets a single-pane-of-glass view of the ongoing transactions. Tokenization using the blockchain technology also casts a significant positive impact on the liquidity of the assets.
“Besides this, we also have a HEAT server, which is specifically designed to split blockchain files into one GB partitions. This eliminates the need to store full blockchain on any one node,” says Lehtinen. “Not unlike peer-to-peer network torrent file sharing, we distribute the storage requirements throughout the network, significantly boosting the transaction throughput by orders of magnitude.”
A major factor contributing to the uniqueness of Heat Ledger is its custom-built memory mapped disk storage where data stored on disks can be seamlessly accessed in a random sequence. By leveraging its proprietary blockchain technology, Heat Ledger is also developing custom solutions with unique features and capabilities like end-to-end encryption messages, identity management, micro and mass payments, crowdfunding, digital smart vouchers, portfolio services, microservices, and more.
Forging ahead, the firm is focusing on developing the best-in-class regulatory infrastructure and compliance solutions, and it strives to become one of the leading facilitators of asset tokenization (ICO, ITO, IPO) for its decentralized network. “In our opinion, the decentralized exchange technology is going to revolutionize the startup and funding industry in a decade, and we are at the forefront of paving the way via our unique blockchain-based technology,” concludes Lehtinen.