Merkle Tech to launch new blockchain tech to improve interoperability

Merkle Tech to launch new blockchain tech to improve interoperability

Merkle Technologies is reportedly planning to introduce a ground-breaking technology that is expected to enhance interoperability between existing blockchains like Bitcoin, Binance Smart Chain, and Ethereum.

For the uninitiated, interoperability is known as the ability of the ledgers to communicate with each other, thus eliminating the need to depend on a single ledger. This technology also enhances the verification process and provides an efficient environment that offers security, compatibility and scalability. It also enables users to transfer assets from other blockchains to the chain and vice versa.

Speaking on this revolutionary technology, Michelle Ryan, the spokesperson from the company, emphasized on its ability to offer high security while enabling communication between different ledgers.

Ryan stated that the company is improving interoperability using the independent block-chains and quickly verifying blocks without revealing any data. This keeps the data immutable which implies that it is a robust technology. It offers ease of communication between private and public blockchains without facing any breakdown. The other existing blockchain can also interact with Merkle Technologies and businesses can have the opportunity to start a small-scale venture easily, Ryan added.

Reportedly, the company has also announced its plans to develop the test version of the technology named TestNet for the general public in November 2021 to check vulnerabilities, if any. Post this, the company will launch MainNet in January 2022.

At present, Merkle Technologies is introducing a crypto token named MTT for raising funds for the project. The initial coin offering (ICO) is expected to start on 16th May 2021. 

According to the sources of knowledge, this advanced technology is also anticipated to witness a heightened adoption. It has been designed to process 10,000 TPS which apparently is far more than any other blockchain. This scalability feature is compatible with various business-oriented applications and is expected to facilitate faster delivery of data or transactions. It can be applied different business functions in industries as the best business solution.

Source credits: https://www.prnewswire.com/news-releases/merkle-technologies-set-to-launch-revolutionary-blockchain-technology-that-will-enhance-ledger-communication-301285530.html