Eleven01 and Indian blockchain-market

In this article we will talk about one interesting project that could potentially bring the Indian cryptocurrency market to a new level. The project from this article – Eleven01, aims to solve the main problems of the blockchain: scalability, speed, security. It is noteworthy that the team and jurisdiction is India.

Eleven01 is a unique Indian blockchain project that will allow you to choose the algorithm to achieve consensus. The project positions itself as the fastest and most scalable blockchain network. Below we will talk about what problems this project solves.

What problems does the Eleven01 project solve?

The fundamental factor that underlies the blockchain technology is one or another algorithm for reaching consensus. And at the heart of the Eleven01 project is a unique functionality, with which it will be possible to choose a way to achieve consensus in the blockchain (whether it is POW, POS, or a unique BFT algorithm and others).

Transactions will be processed in a unique way that will increase network bandwidth. And when using this model, the transaction processing speed can reach 10 000 transactions per second (this figure is stated in the white paper of the project).

In addition to all this, the priorities of the team is the promotion of blockchain technologies in India. Some of the team members, as well as the advisers who supported the Eleven01 project, have ties to the government of India, but we'll talk about this a little bit below.

The developers plan to create their own unique Protocol that will easily implement the main advantages of the blockchain in absolutely any sector.

This is their main Mission. The developers plan to create a unique Protocol that will be able to interact with other global protocols. And also, the platform Eleven01 will be able to create decentralized applications (dApps).