Akamai, a multinational provider of advanced cloud-based services, will build a scalable and fast blockchain architecture with a maximum latency of two seconds per transaction.
MUFG will be responsible for providing experience in the field of financial payments.
“This new blockchain-based online payment system, built on our cloud platform, will be designed to address the scalability, latency and security concerns that have so far hampered the wider use of blockchain technology.”
This is how Tom Leighton, CEO and co-founder of Akamai, summarized the purpose for which the platform was born.
A new platform for advanced payments
In a world where everything changes, even forms of payment need to evolve to keep pace.
The platform will manage the transfer of value for pay-per-use payments, micropayments, and the latest generation of payment methods for the Internet of Things.
Japan will be an “early adopter“: the payment service was born from the beginning to be a global network of payments for a wide variety of valuable transactions.
Akamai’s solution for speeding up blockchains
The high speed of the digital platform will be ensured by consensus nodes located within the Akamai Intelligent Platform.
The latter is a cloud delivery platform that relies on 3,800 servers in 135 countries.
The new architecture, according to the designers, will go beyond the limits of the current configurations. In particular, two solutions are currently available on the market.
- Blockchains created on a few nodes located within a single location (same data center), to increase the speed of communication between nodes. This configuration loses the intrinsic availability of the blockchain because it is centralized.
- Off-chain solutions where only the final balance is recorded in a blockchain transaction. Such as the Lightning Network.