BackgroundPublic blockchains, like Ethereum and Bitcoin, can only perform ten transactions per second. If you only want to put one percent of global financial markets on the blockchain, you would have to do hundreds of thousands more. That is where Perun comes in. They are a B2B startup and work with other companies who are interested in blockchain or already working with it. Perun generates an additional layer on the original blockchain, their protocol (2nd layer off-blockchain) is more secure and much faster by enabling transactions to be sent peer to peer in separate channels without confirmation of thousands of blockchain miners. In each channel, thousands of transactions per second are possible with current technology.
Perun’s channel technology could also be used by centralized financial networks like credit card companies or other payment providers (think PayPal). Their channel technology also allows machine-to-machine-payments on blockchains.
During the interview, we also talk about their technology’s theoretical limit.
They will soon release their protocol as an open-source developer kit. Find more information on that on their website.
Interview PartnerIn this interview, Joe is talking to Sebastian Stammler – Implementation Lead (https://www.linkedin.com/in/sebstar/) and Hendrik Amler Scrum Master (https://www.linkedin.com/in/hendrik-amler-932506191/) at Darmstadt based Blockchain startup PERUN (https://perun.network/). At the time of the interview (October 2019), the company was not yet incorporated.
Perun is part of a research group jointly of TU Darmstadt (https://en.wikipedia.org/wiki/Technische_Universit%C3%A4t_Darmstadt) and University of Warsaw (https://en.wikipedia.org/wiki/University_of_Warsaw). TU Darmstadt is one of the great starting points for many deep-tech startups (https://en.wikipedia.org/wiki/Deep_tech) here in Germany. You might also want to pay a visit to HIGHEST, the startup and innovation center of the university: https://www.highest.tu-darmstadt.de/highest/index.en.jsp.
Tune in to learn more.
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For everyone who is surprised about that, many channels work like this. Just pay attention to the people in Telegram Chats who ask for admin emails and “business proposals” they usually sent an offer with a price tag of several thousands of Euros, sometimes upwards of 50.000 Euros, just to be on their channel. Oh, and before I forget: They usually only want cash, they don’t take crypto.
Make sure you vet your main blockchain information source before you fall into those traps.
Further reading:We are talking during the interview:
Vobis was a – now-defunct – computer hardware retailer in Germany, in the late 1990s. Some years they were showing the largest revenue for computer hardware in Germany. Learn more here in Wikipedia (article only in German): https://de.wikipedia.org/wiki/Vobis
Diploma degree: https://en.wikipedia.org/wiki/Diploma#Germany_and_the_German_academic_education_system_in_Europe
Prof. Dr. Sebastian Faust of TU Darmstadt: https://www.informatik.tu-darmstadt.de/cac/start_cac/mitarbeiter_cac/personendetails/index.en.jsp
Prof. Stefan Dziembowski, PhD of University of Warsaw https://www.crypto.edu.pl/Members/Dziembowski
Technical Papers for further reading:- General State Channel Networks https://eprint.iacr.org/2018/320
- Virtual Payment Channel Hubs http://eprint.iacr.org/2017/635
- Multi-Party Virtual State Channels https://eprint.iacr.org/2019/571
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PERUN accelerates payment transactions on Blockchains with private channels