Ian Copeland, Managing Director and Technical Lead at Six Ticks
IT developer Six Ticks today announces its revolutionary distributed feeless blockchain solution, validated by Aston University through a comprehensive EU-funded research project, representing a significant advancement in blockchain technology. This technology is the first of its kind, removing transaction fees while preserving the robust security characteristic of distributed architectures.
Current feeless blockchain solutions either lack a distributed nature or rely on participants within the blockchain to waive fees. Six Ticks' new system eliminates transaction fees without compromising security, making high-level data security both accessible and affordable.
By removing significant cost barriers to blockchain adoption and reducing the need for multi-layer blockchain solutions, which may introduce additional points of failure and security risks, this concept sets new industry standards for efficiency, practicality, and widespread use, and can be easily adopted by firms from start-ups to multinationals.
The innovation allows for fast, secure, and cost-effective cross-border payments, decentralised security, and supply chain transparency for institutions including FinTechs, healthcare, and governments. It can also be integrated into relational databases, providing an affordable way to enhance data security and integrity, ensuring immutable audit histories and fraud prevention. Six Ticks is now making its concept a reality, developing a feeless blockchain product for its clients, offering a future-proof solution for long-term data security and integrity without recurring costs.
Ian Copeland, Managing Director & Technical Lead of Six Ticks, commented: "The distributed feeless blockchain we've developed addresses a fundamental limitation in current blockchain systems by removing transaction fees without compromising security. This technical breakthrough maintains the integrity and decentralisation critical to blockchain technology."
Stephanie Henson, Sales and Operations Director of Six Ticks and co-owner, noted: "Our solution eliminates the costly fees and large projects associated with blockchain, making high-level data security accessible to businesses of all sizes. This technology paves the way for affordable, scalable blockchain adoption across a wide range of industries."
Tony Clark, Associate Pro-Vice-Chancellor and Deputy Head of The College of Engineering and Physical Sciences at Aston University added: "Aston University is proud to have contributed to the technical development of Six Ticks' groundbreaking blockchain innovations. Our collaborative research focused on optimising decentralised ledger technology, enhancing scalability without compromising security, and introducing a fee-less transaction model. These advancements represent a significant leap in blockchain efficiency and practicality, setting new industry standards."
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