SINGAPORE: NEM- an open source blockchain project- releases a whitepaper on Version 2.0, codenamed as Catapult. It is a private chain developed by Tech Bureau. Catapult, being an open system, can be used in any system to communicate. It is complemented by Dragonfly Fintech's solution to interoperate from one blockchain cluster to another impeccably.

True permissioning in the new architecture helps regulate the use of blockchain by its users, allowing the users to assume three important roles - public permissionless, private partially permissioned, and absolutely permissioned. Catapult also allows it to be interoperable and shareable among different clusters of distributed ledgers.

Catapult is considered to be the successor of Tech Bureau's Mijin private blockchain technology. The new architecture has reused the entire blockchain in C++ to make use of API gateways for better performance in terms of speed, connectivity, security, extensibility, scalability, and flexibility. Catapult has the capability to scale to 3,000 transactions per second. All existing business rules of an entity can be reused and integrated with the Catapult via its powerful API gateway.

"Catapult is redefining the blockchain architecture landscape. It not only improves on the utility of the blockchain technology, but it also brings enterprise class design into the otherwise rigid and cumbersome blockchain solutions that we are used to," says Lon Wong, CEO, Dragonfly Fintech, and NEM project member.