The number of applications using the Hungarian blockchain continues to grow

Dlabs Blockchain

Following the Blockchain Solution of the Year 2021 and Innovative Hungarian Brands awards winner eHáz condominium management software, now the e-Diploma platform is next in line to move data authentication operations to the ILGON blockchain. e-Diploma is a digital platform for the online use of electronic diplomas issued by Hungarian higher education institutions. Through the platform, diplomas can be shared and authenticated with just a few clicks, while the diploma holder can have complete control over the data of the document. The platform authenticates the diplomas with the help of the ILGON blockchain, which is also developed in Hungary, and ensures their GDPR-compatible and tamper-proof use. Students of Milton Friedman University are the first to enjoy the benefits of the system, but several other Hungarian universities in Budapest and the countryside have already indicated their need for the platform, so it is expected that the system will soon be available in several parts of the country.

“Early success confirms that as part of the digital revolution, blockchain technology does have a place in the oldest institutions of our time. Authentication of digital documents is a use case that will be used in most areas of life in the coming years. ” Attila Vidákovics added

What is ILGON?

The ILGON blockchain was created and launched in January 2021 in response to the scaling problems of the Ethereum network by the Hungarian startup Dlabs blockchain research and development. The ILGON blockchain allows anyone to create their own cryptographic tokens, run smart contracts, and run Dapps. Like Ethereum, ILGON is Turing complete, so it can model any business logic, and thanks to full EVM compatibility, no application redesign is required to migrate from Ethereum. The network has a permeability of more than 200 transactions per second, guaranteeing smooth, congestion-free operation. Transaction costs account for about 1% of Ethereum’s costs, the long-term predictability of which is ensured by the so-called PTC (Predictable Transaction Cost) system. The applications on the network are therefore ensured by the PTC system that low transaction costs remain even in the event of a change in the ILG price. The development team also replaced the Proof-of-Work consensus mechanism, which requires energy wasteful computations known from previous systems, with an efficient and environment friendly hybrid PoA + dPoS consensus model.