In Lead Up to Crypto Invest Summit Pyrofex Announces CDelta, a Cryptocurrency and Payments Platform to Solve Blockchain's Scalability Problem

PROVO, Utah, April 4, 2019 /PRNewswire-PRWeb/ -- Pyrofex introduces CDelta, an open source, proof-of-stake blockchain and payment platform that will be able to process 50,000 transactions per second at launch. Built using Casanova's optimistic consensus system, CDelta paves the way for adoption of crypto payment dapps by introducing a blockchain solution that is fast and cost-efficient. The Pyrofex team will be explaining CDelta at this year's Crypto Invest Summit in Los Angeles. As sponsors of the event, find them on the pitch stage at 11:45am on April 9th, 2019.

Pyrofex Founder and CEO, Nash Foster, said, "The rise of mobile payment apps, such as Venmo, Zelle, and Apple Pay, ensures a digital future for payments. By developing a solution for the long-standing latency issue suffered by blockchains, we aim to lay the groundwork for adoption of crypto payment dapps, which are far more private than credit cards and eliminate the need for unnecessary fees paid to app and credit card companies as well as banks."

Foster continued, "In our experience, consumers care about security, cost, and convenience. Crypto already offers better security and affordability, so we're addressing the convenience issue with our solution that enables higher transaction throughput."

The CDelta blockchain will achieve tens of thousands of transactions per second by allowing all nodes to produce blocks simultaneously and by singling out conflicting transactions, known as "double-spends," thereby allowing all other transactions to occur near-instantaneously. Essentially, the Casanova protocol assumes the majority of users are honest and only punishes those attempting a double-spend with slower transaction processing. This optimistic consensus system allows the majority of honest users to enjoy extremely fast transaction processing and finalization.

To put the novelty of CDelta in context, the two most well known blockchains, bitcoin and ethereum, process 7 and 20 transactions per second, respectively, while Visa processes 24,000 transactions per second. CDelta will process 50,000 transactions per second and will finalize transactions faster than any other payment processing method in the world. Rapid finalization will be a boon for merchants who often must wait weeks for credit card transactions to finalize and accept the risk of payment rollbacks.

The Pyrofex team, led by three ex-Googlers with over 30 years of combined experience building complex internet systems at large scales, is developing the design for the underlying CDelta protocol, node software, network itself, and bundled toolsets. They look forward to meeting with potential investors and validators for its proof-of-stake blockchain at Crypto Invest Summit on April 9th and 10th in Los Angeles.

For more information about Pyrofex and other media inquiries, please contact Sarah Cohen at Melrose PR sarah(at)melrosepr(dot)com or call (310) 260-7901.

About Pyrofex
Pyrofex Corporation, formed in 2016 by co-founders Nash Foster and Mike Stay, is focused on the development of software, protocols, and infrastructure to support a truly scalable global cryptocurrency. CDelta will be an open source, proof-of-stake blockchain and payment platform. Built using Casanova's Optimistic Consensus System developed by Pyrofex, CDelta will enable users to process tens of thousands of transactions per second and significantly reduce transaction fees without sacrificing any security or decentralization. CDelta's team is led by three ex-Googlers with over 30 years of combined experience building complex Internet systems at extremely large scales. Pyrofex believes the world is ready for a decentralized payment processing solution that is fast and cost efficient.

SOURCE Pyrofex

Related Links

https://pyrofex.io/