Technology giants analyze distributed ledger (DLT) transactions with the goal of optimizing blockchain capabilities and supporting faster adoption by companies.
US chipmaker Intel has partnered with the German software giant SAP to search for some of today's blockchain problems such as scalability, Intel's strategic relationship manager Tim Allen said in a blog post on Tuesday. Allen presented the joint studies of the two companies on distributed ledger technology (DLT) transactions and provided more details on the participation of Intel in the blockchain consortium led by SAP launched at the beginning of this year.
SAP and Intel have analyzed the workloads of the German company to evaluate how blockchain can be optimized using existing software and hardware solutions. The partnership aims to make DLT more widespread among current business models and customers by creating "superior blockchain technologies"
"[…] SAP and Intel are conducting benchmarking studies to analyze blockchain metrics such as transactions per second for identify network bottlenecks that could be optimized with more powerful and performing technologies.This benchmark collaboration is significant for existing blockchain implementations as current blockchains can be associated with slow latency and throughput problems, "Allen explained in 19659006 The Intel manager explained that the US company had joined the newly formed SAP DLT consortium with the goal of creating a supply chain management tool that uses the proof-of-concept solution. The initiative targets the blockchain for businesses and includes several projects oriented to the DLT of participating companies such as the Intel Xeon Scalable processors.
"What benefits do blockchain offer to companies? Business blockchains create a mechanism to re-evaluate and accelerate existing business processes, particularly across corporate boundaries, reducing process steps and ensuring greater transaction consistency […] The use of blockchain technology in the company is a further step towards decentralization of business applications for greater flexibility, transparency and scalability in the hyper-connected economy, "wrote Allen.
SAP formed the DLT consortium in June with seven founding members including Intel, Hewlett Packard (HP), US multinational UPS, Airbus affiliate in California A3, US Flex electronic manufacturer and Arizona-based service provider Amkor Technology. The project is a direct competitor of the project Hyperledger of the Linux Foundation and R3 Corda of David Rutter.