Information Technology company, GFT, has confirmed the raving statistics of Digital Asset Holdings (DA), and backed up DA’s earlier performance claims, announcing the impressive results of an independent performance test carried out on the DA platform.
According to DTCC, the results of the performance test show Digital Asset unconventional DLT platform is very much above the highest US equity trading volumes, after posting staggering numbers surpassing 27,000 trades per second.
Digital Asset is one of the few companies which build targeted products based on the distributed ledger technology for regulated financial institutions across the world. The company, which has major offices across six other countries, other than the United States, describes itself as the only distributed ledger platform designed to cater for the production demands of the world’s most prominent financial institutions. GFT, headquartered in Stuttgart, offers services involving the “digitization of business processes.” The company also provides IT and software services to financial institutions and do not have any affiliation with blockchain or DLT prior to the recent development.
While there have been concerns about the performance of the blockchain or any other distributed technology at an enterprise level, GFT’s recent test moves to abate those fears and to offer hope instead in what might be a potential breakthrough in the information trade industry. Current CEO of Digital Asset, Blythe Masters explained the positive impact of the findings:
“GFT’s performance test demonstrates the throughput capacity of the DA Platform can meet the demands of major markets. We are delighted that GFT’s findings have validated that the highest standards of integrity and privacy do not sacrifice performance. We are very optimistic about what this outcome will mean for the industry at large.”
Prior to the conduction of the test, Digital Asset provided GFT with its code base and a production-like environment, in a bid to eliminate any form of bias in the results. What would follow the process would be a sequence of test scripts to verify DA’s bold claims that the throughput could achieve 27,000 trades per second, along with 81,000 DLT transaction updates per second.
While talking about the exercise and his enthusiasm about GFT in the near future, David Collins, GFT’s head of the Atlantic region, stated that:
“GFT’s goal is to continually drive innovation throughout the financial services sector, and DLT is a key part of this strategy. We believe the rigor of the test scenario’s construction and in the level of performance achieved demonstrates the DA Platform can handle peak trade volumes seen in US equities markets and scale to satisfy the performance requirements of large-scale financial institutions.”
GFT thinks DA’s impressive numbers would be key to a very exciting future in terms of performance and peak trading volumes.
With the annual Sibos conference set to hold in Sydney next week, the team is ready to demonstrate its performance application especially on a large-scale, in what would be a significant headway for distributed ledger technology.