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Bloom Technology announced Friday that it had developed a new blockchain technology called “dynamic sharding,” which it said will help maintain the fast speed of transactions in a secure way. Courtesy of Bloom Technology

Will Dynamic sharding technology change the game?

A South Korean startup recently announced that it has developed an unprecedented technology for blockchain, which it said will increase the commercial viability of the new platform.

Bloom Technology said that its “dynamic sharding” technique will change the game in the blockchain industry, which struggles to come up with practical applications despite the hype.

Our Locus Chain can process transactions in a fraction of a second to solve a decade-long speed problem of blockchain as we demonstrated a few months ago,” Bloom CEO Lee Sang-youn said.

But we have yet to complete our sharding technology, which has been an elusive goal. After years of research, we managed to succeed. We are now ready to take advantage of our platform in a full-fledged manner.”

Bloom performed a public test to show its transaction speed last October. Back then, however, the startup admitted that it had yet to develop dynamic sharding to finish its research.

Sharding is not a new technology. It partitions large databases into smaller segments to reduce the index size, which is necessary to improve the efficiency of data management.

To enhance the painfully slow transaction speed of blockchain, many entrepreneurs across the world tested the sharding technology, but the effect has been limited.

Lee claims that the static characteristic of sharding technologies led to such disappointing results.

That’s why we have worked on dynamic sharding, which is essential to maintain the optimal transaction speeds. It also smooths overload on a network to secure scalability,” he said.

Even before completing its dynamic sharding technology, Bloom had briskly tried to apply its platform to actual uses.

Last December, the company announced a partnership with Arms & McGregor International Reality to allow the purchase of real estate in Dubai using cryptocurrency.

Early this year, it joined hands with a South Korean game developer to use its blockchain technology to a new game called Kingdom Under Fire 2.

 

This article is provided by UPI News Korea. _ ED.