A start-up firm claims its highly efficient distributed ledger protocol can address all the major problems facing blockchain networks, including being able to scale for global financial business by executing up to eight million transactions per second (TPS).

The new blockchain protocol, called Devv, was unveiled and demonstrated at CES in Las Vegas last week.

If the claims prove true, Devv would be able to compete with traditional financial networks in terms of scalability, be far less expensive to use and would address fraud, theft and privacy issues. Like many blockchain protocols, Devv is not just a peer-to-peer (P2P) database technology but also a digital currency or cryptocurrency called Devcash.

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