What is the DEXON Platform?
Zero fee crypto exchange COBINHOOD has launched a decentralized Blockchain platform DEXON, backed by VC firm IDG Capital, claiming the ‘Infinitely Scalable’ technology will achieve processing speeds similar to banks and credit card companies.
In a press release, COBINHOOD said DEXON is the fastest Blockchain available on the market aimed at guiding mass adoption within the banking industry and real-world application requirements. It said its new technology uses parallel Blockchain systems that work together to form an infinitely scalable, low-latency decentralized transaction processing engine.
What are the features of DEXON technology?
Through the use of a block-lattice structure, DEXON is able to make decentralized transactions more scalable than ever before, the release states. Unlike traditional Blockchain technology systems that build encrypted blocks linearly, DEXON’s block-lattice, features multiple Blockchain systems that work together in parallel, making it easier to scale automatically and energy-efficiently, said the company.
Prior to DEXON technology, the claims Blockchain could only scale a few secure transactions per second, making it unable to keep pace with traditional banking technology and other real-world’s needs. COBINHOOD said that with this new architecture, the DEXON network is ready to compete with credit card companies and bank transactions through the use its highly secure system.