Splend Unveils the Technology to Make the Blockchain Revolution a Reality
Splend has developed a breakthrough technology for instant crypto transactions and joined a major strategic alliance in China
Sep 10, 2018, 07:00 ET
SAN JOSE, California, September 10, 2018 /PRNewswire/ --
Splend, a fast-growing Silicon Valley startup, has emerged from stealth mode to address blockchain infrastructure limitations in scalability, security, and latency. Its Integrated Blockchain Architecture™ (IBA™) proprietary technology ensures unprecedented transactions speed, low fees, high security, transparency and cross-platform accessibility. IBA™ is capable of processing instantaneous blockchain transactions for millions of users and devices simultaneously.
The Blockchain Infrastructure Pioneer
In 2017, the global market for blockchain was estimated at $708 million. However, today the blockchain network technology is at the same nascent stage as the computer was in the late 1980s. The transactions are slow, unsecure and expensive. The existing infrastructural problems are huge barriers for further blockchain development and its massive adoption.
Splend aims to become a blockchain infrastructure pioneer, similar to what Cisco was for the Internet. It has gathered an impressive team having both the hardware and software competencies to reach this objective.
Uniquely Positioned to Solve Blockchain Problems
The company's CEO, Rick Bleszynski, is a serial entrepreneur, microprocessor industry professional and an C-level manager with 30 years of experience in the networking industry. He was the Chairman and Founder at Bay Microsystems, CTO and founder at Softcom Microsystems (acquired by Intel Corp. in 1999).
"Blockchain has the potential to become the new dominant network. We, at Splend, aim to power the new Blockchain Network Infrastructure by solving the existing limitations and bottlenecks. Our team has three decades of experience in solving very similar problems during the past computing platform revolutions, and we intend to make the Blockchain network ubiquitous just like the Computer and the Internet", said Rick Bleszynski, CEO of Splend.
Splend's co-founders and senior executives have over 25 years of experience in software development in Silicon Valley. The team has proven core competencies in decentralized P2P blockchain protocols and algorithms, complex network processing hardware, and software coupled with system-on-a-chip expertise.
Splend's global advisory board is comprised of experts from across the world with deep experience in finance, investor relations, marketing, law, and technology. It is designed to provide strategic guidance to Splend and plays a key role in setting the direction and agenda for the company's activities.
Superfast Flash Network and its First Applications
The IBA™ Flash Network is the first implementation of the Splend's Integrated Blockchain Architecture™ to provide unprecedented speed for financial transactions. It is layered on top of the Ethereum blockchain and works with all ERC20 tokens. While the Bitcoin blockchain can perform about 3 transactions per second and the Ethereum blockchain about 30 transactions per second, the IBA™ is targeted to achieve 1 million transactions per second.
With an initial focus on the Financial Services, Splend has crafted the Universal CryptoWALLET™ (UCW™) application with an associated blockchain service available now. In addition to its unprecedented speed, UCW™ is the most secure crypto wallet available on the market, providing a 12-layer security shield against any malicious attempts. The product enables a total personal finance experience for all users. It allows them to access digital currencies and perform near-instant, inexpensive and secure crypto transactions.
Strategic Alliance in China
The great success of the IBA™ has helped Splend secure the first partnership in China, which opens new exciting opportunities for the company. It has joined a strategic alliance with Shanghai Code Center Industry to develop the next generation network infrastructure utilizing Splend's IBA™ Flash technology for the China Cable Television Network. It is a subsidiary of China Central Television, one of the largest media companies in the country broadcasting to over 1 billion viewers.
"We welcome Splend joining the alliance and are pleased to integrate its innovative technology into our product portfolio. Through the adoption of Splend's cutting edge technology we are planning to build the next network infrastructure, which will overthrow the realities of the current network, enable faster transactions and dramatically reduce costs," said Mr. Quan Laisheng, President of Shanghai Code Center Industry Ltd.
Shanghai Code Center is also partnering with such big brands like Huawei Technologies, Beijing UnionPay, National Gold Card Engineering & IoT Application Industry Alliance and Anhui Mobile TV Electronic Co. to develop the service platform based on digital TV network infrastructure. The strategic alliance with Shanghai Code Center Industry will ensure Splend continued increase in presence in the Asian region and cover new industries.
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