[PRESS RELEASE – Please Read Disclaimer]
The growth of Ethereum in the cryptocurrency space proved the necesity for a decentralized network that allows developers to create decentralized applications on top of it. However, it also showcased several issues that could occur, including being stuck to using only one chain and lack of scalability that leads to high-cost problems of its own.
Nevertheless, this allowed the creation of alternative chains in and outside the dApp industry that want to take a share of the piece. One such example comes from the high-performance blockchain enabling interoperability with other networks – Accumulate.
Now, just over a month after the project introduced its Testnet 2.0 (dubbed Brooklyn), it outlined reaching a significant milestone of over 1,200,000 transactions taking place on its network.
1.2M Transactions in a Month
It was just at the end of 2021 when the team behind Accumulate highlighted the release of Brooklyn, which came less than two months after the Testnet 1.0 version (Rialto).
Following the success of the first version, the team provided several improvements that allowed for a safer and better experience for users.
Those included URL addressing, which allowed users to accumulate identities, data, transactions, and state traditional tech that can be easily integrated with URL addressable data.
ADIs provided them access to the complete range of features on the Accumulate Network, such as smart contracts, off-chain consensus building, and dynamic key management. These accounts are different chains storing information on the network.
Other two options included ADI Token Account and ADI Data Account. The announcement from December also outlined features like Key Books, Key Pages, Keys, Mobile Wallet App, Faucet, and Explorer.
In its quest to become the “bridge to the digital economy,” Accumulate promised that it will eventually offer multi-sig transactions, managers for the ADI accounts, Lite Data Chain, ADI Staking Accounts, Scratch Spaces, and more.
Although the aforementioned products are yet to arrive at the Accumulate scene, the project has already tapped a significant milestone in its development. The team behind the protocol announced just a month after the Brooklyn that the trials were going well and the transaction count had already exceeded 1.2 million.
The Accumulate Protocol is an identity-based, Vetted, Delegated Proof-of-Stake blockchain with secure, scalable, and extensible features to power DeFi applications. Accumulate can serve as a DNS service for the internet.
Other chains under Accumulate can be addressed in a standard way via URLs. A transaction between chains could be accomplished with Accumulate serving as both the communications layer and an audit layer. Accumulate will drive DeFi adoption by delivering innovative solutions. In this respect, Accumulate will become “the bridge to the digital economy.”