As blockchains are being rolled out in an increasing number of pilot programs for everything from cross-border financial transactions to supply chain management, one persistent issue remains: a lack of scalability.

As more computers join the peer-to-peer network, the efficiency of the whole system typically degrades.

[ Further reading: What is FinTech (and how has it evolved)? ]

Scalability has already been identified as an issue with cryptocurrencies such as bitcoin and Ethereum's Ether. If a distributed ledger is to achieve adoption by financial technology (FinTech) companies and compete with payment networks hundreds of times faster, it must find a way to boost scalability and throughput and address latency problems.

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