“The shortcomings of current blockchain infrastructures are scalability & security”
Cypherium aims to be the most secure smart contract platform available. Why should you care? First, it’s the most versatile virtual machine on the market to date, according to co-founder Nate Ren. Second, the Cypherium Virtual Machine supports Java and is compatible with EVM. Let’s have a closer look at this platform and how it compares to other blockchain platforms like Hyperledger.
“Cypherium is a highly scalable & permission-less hybrid blockchain platform based on proof-of-work and Byzantine fault tolerance consensus. The design goal of Cypherium focuses on achieving the apex of scalability, decentralization, and commercialization viability.”
For more information about this blockchain platform, check out their whitepaper.
JAXenter: What’s preventing enterprise adoption of blockchain technology from going mainstream?
Nate Ren: There are two factors preventing enterprise adoption of blockchain technology from going mainstream. The first is a general lack of knowledge and education about blockchain technology and its potential applications.
The second is the limitations of blockchain technology itself, primarily in terms of scalability and security.
JAXenter: What is Cypherium Enterprise and what’s its endgame?
Nate Ren: Cypherium Enterprise is a private blockchain where there are less uncontrolled variables. In such a network, nodes are known to each other internally, so no mining is required. This greatly increases a blockchain’s performance capabilities.
And because Cypherium Enterprise is a private blockchain, a lot of functionality can be customized to suit the specific needs of enterprise users.
The Cypherium Virtual Machine supports Java.
JAXenter: What are the shortcomings of current blockchain infrastructure and how can Cypherium Enterprise help overcome them?
Nate Ren: The shortcomings of current blockchain infrastructures are mainly scalability and security. Cypherium solves the scalability issue by using a unique hybrid consensus mechanism and an advanced virtual machine.
By combining these structures, Cypherium aims to be the most secure smart contract platform available.
JAXenter: What does it have that Hyperledger doesn’t?
Nate Ren: Hyperledger doesn’t have the strong virtual machine capability that Cypherium does.
JAXenter: What’s unique about Cypherium?
Nate Ren: The Cypherium Virtual Machine supports Java and is compatible with EVM. Also, The Cypherium Virtual Machine enforces many security measures by default that can greatly reduce potential vulnerabilities of smart contracts. It’s the most versatile virtual machine on the market to date.