Psy Protocol Unveils Public Testnet for Hyper-Scalable Web3 Platform
Hong Kong-based Psy Protocol, formerly known as QED Protocol, has unveiled its public testnet for Psy, a revolutionary smart contract platform aiming to host the next generation of the decentralized internet. Psy empowers developers to build hyper-scalable web3 applications, combining the neutrality and security of proof-of-work with the scalability and speed of next-generation architectures.
Psy Protocol, launched in its public testnet phase, boasts a blockchain architecture designed for internet-scale throughput and Bitcoin-level security. The testnet has demonstrated throughput exceeding one million transactions per second in scenarios involving one million users, each submitting ten transactions. This remarkable feat is achieved through Psy's innovative state model, PARTH, which removes the transaction validation bottleneck by leveraging client-side compute for faster block creation times that scale logarithmically with user count.
Psy Protocol chooses a proof-of-useful-work consensus mechanism to eliminate the energy inefficiency of traditional proof-of-work and maximize useful work performed by miners. This approach enables web3 business models to compete directly with centralized platforms while giving users data ownership and control. Psy's architecture has achieved million-TPS capacity in internal benchmarks, enabled by client-side zero-knowledge proofs and a horizontally-scalable state architecture.
Psy Protocol's public testnet launch marks a significant milestone in the development of a hyper-scalable smart contract platform. With its innovative architecture and consensus mechanism, Psy empowers developers to build web3 applications that can compete with centralized platforms, offering users data ownership and control. As the testnet continues to demonstrate impressive throughput, Psy Protocol is poised to host the next generation of the decentralized internet.
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