BTL's Interbit Megachain Platform Version III Set To Become Reality

BTL's  Interbit Megachain Platform Version III set to become reality

BTL is providing updates on its efforts to advance Interbit Version III, a 3rd generation blockchain platform enabling business applications to be built quickly, easily and securely.

BTL is listed on the TSX Venture Exchange (TSX Venture: BTL). It operates from both Canada and the UK with offices in Vancouver, Calgary, and London. BTL own Interbit Megachain Platform.

Interbit is the megachain technology platform with the objective of being able to run 1,000,000+ chains simultaneously and to support the complex Enterprise level applications.

According to the blog update, BTL released its Interbit version II in April 2018 and received feedback based on competitive landscape and revenue generation possibilities. Based on the feedback, BTL has re-architected its Interbit platform in Version III to increase chain-joining and chain generation capacity of the platform.

Here are the key updates listed regarding Interbit blockchain platform. The updates are listed as-is from the announcement.
  • In the previous two versions of the Interbit™ platform, chain-joining served to facilitate external interaction, whereas, in the latest iteration of the platform, chain-joining now characterizes all interaction of internal and external exchanges of data. As the platform now contemplates operating across fleets of computers at megachain levels of data exchange and shared computation, consistent chain-joining across all data exchange points is required.
  • The Company also advises that it is seeking to come to terms on a licensing and development arrangement with Helix Applications Inc. (“Helix”), a newly established application development company. These arrangements target giving Helix access to the Interbit™ platform and its unique capabilities until platform development is completed, which is expected in Q1 of 2019.
  • Further, the Company announces that it is in discussions to be a technology platform provider to a potential joint venture that includes Helix and a significant technology party, which proposes to launch a project global in reach and the Interbit™ platform’s megachain capacity could be uniquely capable of a technical solution. The Company regards the joint venture discussions to be advanced and expects discussions to be successfully completed.
  • On September 20, 2018, the Company announced the filing of a sixth patent application for the Interbit™ platform - the “Hyperconvergence Application”. The Company commenced filing patent applications for the platform in October of 2017 (see the Company’s October 17, 2017 press release) and accordingly has recently filed International applications for those patents.
  • Using the technical knowledge from this sixth patent application and the lightness afforded by the Interbit™ platform’s recursive design, we expect to able to increase the concurrency and elasticity of Interbit™ platform solutions, thereby achieving megachain scale on the platform.
  • In addition, a clear endpoint for development of the Interbit™ platform has been set – when it can run a megachain scale demonstration, fully emulated inside of another megachain solution, and the system correctness is self-proving, the platform will be ready for external auditing for production deployments.

Executive Opinion:

Chief Technology Officer (CTO) of the Company, Tom Thompson, said, “To achieve megachain scale in this current post-blockchain era, the Interbit™ platform has been crafted as a recursive function. The property of the underlying Interbit™ platform to be able to execute in emulation mode, another running version of itself, is the purest test of completeness that any software platform can aspire too. The fractal like nature of the platform allows a lightness, speed, and a self-healing characteristic well beyond databases with cryptography, or even single chain blockchains. The self-proving correctness of recursion is necessary for stable operation at the megachain scale."

The Interbit Megachain Platform Version III is set to launch in the 1st Quarter of 2019. The Company may further issue additional updates on the licensing and development arrangement with Helix and if it finalizes terms for its involvement in the mentioned joint venture above.

PC: pablo,unsplash VC:Interbit

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Mandar is a seasoned software professional for more than a decade. He is Cloud, AI, IoT, Blockchain and Fintech enthusiast. He writes to benefit others from his experiences. His overall goal is to help people learn about the Cloud, AI, IoT, Blockchain and Fintech and the effects they will have economically and socially in the future.

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