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27,000 Txn/s: Digital Asset Blockchain Beats Wall Street Bookkeeper’s Minimum Scale

Last Updated March 4, 2021 3:49 PM
David Hundeyin
Last Updated March 4, 2021 3:49 PM

Global business technology provider GFT has announced results of an independent performance test on the Digital Asset (DA) platform showing that the platform can process trading volumes exceeding 27,000 trades per second over a sustained period of time. These results place the platform above peak US equity trading volumes according to the DTCC.

Founded in 2014, Digital Asset claims to be the only distributed ledger platform to have been developed according to the production requirements of the world’s largest financial institutions. GFT on its part provides business, IT and software services  to the international financial services industry.

The test results potentially provide further evidence that barriers to the adoption of DLT at enterprise level can be surmounted. Speaking about the results, Blythe Masters, CEO of Digital Asset said:

“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.”

To ensure objectivity, DA provided GFT with access to the DA Platform’s code base and a production-like environment to simulate a typical trade day for a cash equities market and a real-time market simulation based on historical data. A series of test scripts were then run to verify the throughput was capable of supporting 27,000 trades per second, or about 81,000 DLT transaction updates per second.

Giving his thought about the exercise and his hopes for GFT in the near future, David Collins, head of GFT’s Atlantic region said:

“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.”

According to Collins, the results of the performance test will create new opportunities both for GFT and for DA, which now has evidence that its DLT-based platform is able to operate at the speed and consistency required on a large scale enterprise solution. This, he said, can potentially accelerate the adoption of what he described as “a completely transformative capability” for the business.

The GFT team will demonstrate its performance application and further elaborate on the test results at the annual Sibos conference in Sydney next week.

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