CEO Lee Sang-Yoon has explained that the solution, called the Locus Chain technology, can process these transactions in a fraction of a second. Sang-Yoon says that instead of trying to process blocks in their entirety which takes too much time, Locus Chain focuses on processing transactions by unit.
The company has already conducted a public test of the Locus Chain technology to confirm its speed. Bloom Technology, over a period of three days, involved 635 nodes in the test and the conclusion showed that one transaction took less than a second, between 0.13-0.23 seconds. The company is already trying to patent the technology.
South Korea’s blockchain space is quite vibrant as the government also recently announced it would use the technology with its billing system.
bestadmin
