Bitfury Launches its Corporate Blockchain Platform Exonum
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Dec. 6, 2019
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Popular mining company Bitfury has just launched its new corporate blockchain platform Exonum Enterprise. According to Forbes, this is the first blockchain of its type, as it will allow large companies to optimize their processes and increase transparency through the use of bitcoin's blockchain.

Exonum started to work on this project in 2015 and already in 2017 presented the first public version of the software. This solution can manage up to 5,000 transactions per second. Exonum is linked to bitcoin's blockchain and writes data into it, creating this way a bridge between a system with limited access and a fully public network.

Corporate blockchain Exonum features a dashboard that allows users to track activity in the blockchain, is compatible with DevOps tech as well as the Java, JavaScript and Python computer languages.

The price that users must pay for using the product depends on the number of nodes in the customer's network, the volume of transactions as well as the hash power of the bitcoin network.

The yearly price per node varies depending on the speed of the blockchain. It starts at $1,250 for a blockchain that adds a block of transactions every 60 seconds, and up to $5,000 per year for a node that adds one block per second. Bitcoin's network adds a block every 10 minutes.

Chris Dickson, head of Bitfury's blockchain department, believes the cost of a six-node blockchain solution will be about $50,000, while this price could increase to $100,000, excluding commissions, in the case of larger configurations featuring more nodes.

Exonum Enterprise is currently based on Amazon's cloud infrastructure, although it intends to add support for Microsoft's Azure platform in the future. In addition, the company plans to allow companies to run the solution directly from their own servers.

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