Loyyal releases v2.0 of blockchain platform for incentive and reward programs
Loyyal, a platform applying blockchain technologies to enhance today’s loyalty and incentive programs, today announced the launch of version 2.0 of the Loyyal Product Suite, its most high-performance version to date. This release improves transaction processing throughput across the company’s distributed nodes by more than 700%, or nearly 800 transactions per second, per program operator on the network.
This increased performance is due to Loyyal’s proprietary implementation of the Hyperledger Fabric blockchain framework. In addition, this new release increases database performance by more than 12x by storing metadata associated with blockchain transactions to a more modernized, high-performance distributed database architecture.
Increased Data Privacy
Another major new feature of version 2.0 is the incorporation of Multi-Channel support for Loyyal’s licensees, providing them with greater control over the sharing of their private transaction metadata with selected business partners. This directly benefits large loyalty programs who have multiple earn and redemption partners, and wish to enable sharing of mutual transaction data between the program and its partners under various conditions. Metadata sharing can be enabled with varying security controls, making different subsets of metadata accessible to different partners and under differing conditions, based upon the nature of the business relationship.
“Our clients continue to be our greatest catalyst in helping us advance the feature set and capabilities of the Loyyal Product Suite and our Network of partners. Large loyalty programs, as well as the software vendors and systems integrators that support them, have come to realize that loyalty and incentives are the killer application for blockchain technology. Our new version 2.0 release provides the capacity to support the transaction volume and data needs of even the largest global programs, and more.”
Loyyal’s blockchain-as-a-service and software components combine the core Loyyal Platform APIs, Program Manager, and Event Manager modules, coupled with secure Node hosting, for a complete solution. The capacity and performance enhancements, plus the data privacy controls of Loyyal Product Suite version 2.0, build upon the success of version 1.0 released in June of last year, which delivered enterprise-grade capabilities and improvements in transaction security, network resiliency, and scalability.