BitSpace Launches Graphchain in cooperation with the Norwegian University of Science and Technology
Together with the Norwegian University of Science and Technology NTNU, BitSpace is excited to announce Graphchain, a project built on groundbreaking innovations from specialists in cybersecurity and cryptography.
Based on technology similar to that of IOTA and Hashgraph, Graphchain will leverage the opportunities offered by Directed Acyclic Graph (DAG) technology to solve some of the challenges traditional blockchain platforms are facing today while addressing key issues with existing DAG solutions.
Advantages of DAG technology include resource-economical verification of transactions and vastly increased scaling potential. Compared to Bitcoin and other cryptocurrencies that use a Proof-of-Work algorithm, DAG technology improves the decentralization aspect and the autonomy of nodes in the system.
Led by one of Graphchain Technology’s co-inventors and scientist Christopher Carr, who is due to defend his PhD thesis on fairness in blockchain systems, Graphchain is now being developed by Norway’s leading teams within cryptography and blockchain and is the first commercialized Distributed Ledger Technology project to come out of NTNU.
“It is a privilege to work with NTNU to further the advancement, as well as drive the commercialization and application, of blockchain and DLT technologies. Graphchain represents a fundamental improvement in scaling and efficiency, and is a big step for DAG-based architecture in particular.”
Manuel Lains – BitSpace CEO
“NTNU is doing world class research within cryptography and information security and is continuously working with DLT technologies. Graphchain is one of the most promising technologies NTNU Technology Transfer is working on within this field.”
Hege Tokerud – NTNU
The Norwegian University of Science and Technology is a public research university with campuses in the cities of Trondheim, Gjøvik, and Ålesund in Norway. It is the largest university in Norway with Nobel Prize winners in medicine in 2014.
Bitspace is a Norwegian technology company specialising in enterprise consulting and application development within emerging technologies such as DLT, Artificial Intelligence and Digital Finance.