May 11, 2018
3 min. read
ARTIS will allow the most convenient and safe Anonymous 1-click-Subscription imaginable
While the price for cryptocurrencies may fluctuate, the blockchain technology behind them is here to stay. However, even the most innovative blockchains are grappling with quite a few challenges — scalability issues are one of them.
We at ARTIS are developing a novel blockchain that can handle a large number of transactions without being energy-intensive or creating high transaction fees.
ARTIS is a new blockchain system that builds on top of the Ethereum ecosystem. We believe that the future of blockchains will consist of three protocol families: Bitcoin-style protocols, Ethereum-style protocols and the DAG-style protocols. Within each protocol family, there will be several blockchain systems serving certain use-cases best, but they will all be linked together and communicate with each other, e.g. through the Cosmos network or the Polkadot network.
One of the most important success factors for blockchain systems are the size of the community and the tools which are built to speed up the application development. In this respect, the Ethereum ecosystem is beyond everything we have seen before. With ARTIS, we would like to tap into this resource and also contribute to it with new ideas and tools.
ARTIS is positioned as a highly energy efficient, fast, instantly final and high throughput blockchain, adding a revolutionary new way of transferring value continuously (Streems), with an ingenious incentive design targeted towards network growth.
We are developing an eco-friendly and efficient blockchain that can handle 200 to 2000 transactions per second from the start — that’s 10 to 100 times the capacity of the Ethereum blockchain. We achieve finality of transactions within seconds which enables the implementation of our innovative on-chain payment channels. ARTIS will be 100% Ethereum smart contract compatible and will be using the Tendermint Proof of Stake consensus.
Some of the features developed for ARTIS cannot be implemented without protocol changes, thus can’t be deployed to the existing Ethereum network.
ARTIS is able to handle all known use-cases that are currently executed on Ethereum. And while it is not ARTIS’ business focus, a migration might happen due to blockchain congestion and rising transaction costs on the Ethereum blockchain. ARTIS is catering to the subscription-based economy, a rapidly growing $8 trillion market: We believe that our on-chain payment channels are particularly well suited for subscriptions and services of all kinds.
Potential opportunities include the media industry, press, as well as regular donations. So far, cryptocurrencies have been struggling to find a solution for these markets and use cases. Each payment has to be initiated by the sender and regular payments cause the inconvenience of having to manually repeat them. Furthermore, transaction fees for small amounts are disproportionate and simply too high. ARTIS will allow the most convenient and safe Anonymous 1-click-Subscription imaginable.
In the following visual demo, a regular Patreon donation is compared with the ARTIS solution: Using ARTIS, the cognitive effort for the supporter is reduced by 98% and the time saved until payment confirmation is 75%.
Read more on our ARTIS Blog