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The Platform Speeding Up Ethereum

Waterfall offers the technology to increase blockchain processing rates.

As Ethereum grows increasingly popular, one barrier to widespread usage remains its slow processing rate. Sergey Grybniak, founder and CEO of the platform Waterfall, is looking to eliminate that obstacle.

Waterfall is a platform that allows blockchains, specifically for Ethereum transactions, to produce multiple blocks simultaneously, allowing for a significant increase in the transaction rate possible. “We basically create an updated version, a more scalable version of Ethereum, but the way we do it, it allows us to preserve the existing standards,” Grybniak said. “So we are creating much faster Ethereum.”

While traditional credit card payment platforms–like Mastercard or Visa–process up to tens of thousands of transactions per second, bitcoin can process only about seven. That rate poses a significant obstacle to widespread adoption. “Until a blockchain can meet those basic needs, it’s not as useful as it needs to be,” said Waterfall advisor Robert Anderson. And by addressing those needs, Waterfall is bringing blockchain one step closer to mainstream use.

Anderson sees the technology as having potential for transforming a range of industries. “It’s going to have a huge impact on things like the insurance industry, on logistics, any of those verticals right now that are traditionally managed and centrally managed,” Anderson said. “Because it’s decentralized, It's much harder to destroy that data because there's multiple copies all over the world.“

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