PLUGnet, the multichain synthetic asset network, recently announced an update to its Ottó Blockchain. The update improves the burst throughput of its nodes. This means the system’s launchnet will now be capable of handling launch sales with over 60,000 users participating, as well as 2,000 transactions per second and incentive payouts of over 800 transactions per block.
PLUGnet’s patent-pending solution can be used to help integrate blockchain-based services and applications with high-speed trading that occurs on decentralized exchanges. Network congestion and scalability have long been issues in the DEX and blockchain spaces, but with PLUGnet and Ottó and their support of higher volume launch sales, users will be able to enjoy more participation and fewer limitations when trading or running systems that require speed and high throughput.
These developments are significant, a fact highlighted by PLUGnet COO Jeff McDonald when he stated the following: “The idea is that new projects can have a launch sale for their assets on Ottó without any pain or waste in gas fees. Users will be able to make almost instant trades on the DEX – even in busy times.”
The Ottó Blockchain can be used by partners, enterprises, and developers who wish to build the next generation of compliant DeFi applications on PLUGnet. It allows teams to test their ideas on a growth infrastructure ahead of PLUGnet’s upcoming mainnet launch. It is also indicative of the significant strides that have been made in the areas of transactional speed and scaling in DEX and blockchain applications.
PLUGnet is an advanced multi-chain synthetic assets protocol, designed to enable asset custodians to leverage any asset from any network in its synthetic form as well as innovative DeFi services. It is a public PoS network that allows anyone with the PL^G token to take part in decentralized governance of the network and get connected to a range of partnered exchanges, custody providers, asset managers, and staking farms in the PLUGnet Partner Alliance.
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