Teranode has arrived. The technology is a blockchain infrastructure that enables enterprise-grade data processing at what is claimed to be a new level of transactional throughput. Capable of more than one million transactions per second in live global trials with Aerospike (a real-time, distributed database designed for large-scale applications requiring high throughput and sub-millisecond latency), this equates to an ability to support 100 billion transactions per day, which outstrips the performance of traditional core banking infrastructure and payment systems.
Its developers envisage adoption across industries including finance, healthcare, logistics and gaming. Built on a horizontally scalable architecture, Teranode enables developers to deploy real-world blockchain power with data integrity for what has been called “high-frequency digital services” today.
Source-available
As a source-available technology (distinct from open source, source-available denotes a software codebase that is accessible to software application developers, but with some restrictions which would prevent it from being labelled as pure open source), Teranode invites collaboration and peer review.
Developed by BSV Association (BSVA), a Swiss-based non-profit that serves as the global advocate for BSV blockchain, the association says it is on a mission to advance adoption of the BSV blockchain as a scalable, secure, and energy-efficient platform for enterprise and government use.
According to Ásgeir Óskarsson, managing director of BSV Association, the technology is built on a microservices-based, horizontally scalable architecture.
“With Teranode, BSV Association delivers infrastructure that helps achieve our mission to advance adoption and unlock the full potential of BSV as a scalable, secure, energy-efficient public blockchain built for data integrity, enterprise solutions, and government applications,” said Óskarsson.
Oh, so now you scale?
He thinks it shifts the narrative from ‘can blockchains scale?’ to ‘what can we build now that they do?”
Siggi Óskarsson, CTO at BSV Association has said that the team knows this technology has been “a long time coming”, but for the past six months, BSVA has been working closely with developers to trial and test the software allowing them to see the underlying code powering Teranode, enabling peer review, identifying potential optimisations and strengthening the platform before its full launch.
“Our goal is to help developers and partners build a better world, on-chain with Teranode, supporting enterprise-scale applications with real-world utility,” said Óskarsson.
Data-driven deployments
The Teranode team suggest that they have unlocked BSV blockchain’s potential across industries that demand massive, real-time throughput at low cost, delivering precise data-driven deployments – example use case include:
- Finance & payments – global transactions at scale
- IoT & logistics – billions of device interactions
- Supply chain & healthcare – secure, data-rich systems
- Gaming & entertainment – high-volume microtransactions
- Global payments – real-time, low-cost transactions.
- Advancing healthcare – secure, verifiable patient data.
- Enhancing supply chains – reducing carbon footprint while processing enormous data volumes
- Supporting sustainable innovation with efficient data processing.
To support developers and exchanges in their use of the technology, BSV Association has been improving and upgrading its developer toolkits and libraries to ensure users are able to build applications easily and successfully on BSV blockchain.
As part of the testing phase, Teranode has been successfully implemented by a handful of transaction processors on BSV Blockchain, running alongside the existing node software. It will now be phased in more widely over the coming months, alongside an outreach programme providing ongoing support to anyone building – or wanting to build on BSV blockchain.