February 23, 2024

MegaHoot Technologies Successfully Achieves TPS Milestone with HootDex Stress Test

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MegaHoot Technologies, a leading blockchain and AI technology solutions provider, made a significant breakthrough with the decentralized digital asset swapping system HootDex. On August 1, 2023, MegaHoot Technologies, in collaboration with several traditional financial high-frequency trading institutions, conducted an intense stress test on HootDex to push the boundaries of transactional throughput.

The goal of the stress test was to achieve 50,000 transactions per second (TPS) in a live on-chain environment. HootDex, built as a layer-2 system on the robust Pecu Novus Blockchain Network, underwent a rigorous examination to assess its capabilities under real-world conditions.

Unlike typical stress tests that rely on theoretical scenarios in a sandbox environment, this test used actual transactions, ensuring authenticity and accuracy. The test provided a true testament to HootDex’s capabilities and the impact it could have in the world of HFT digital asset trading.

The MegaHoot Technologies team, along with the partnering financial institutions, embarked on a 24-hour nonstop challenge, bracing themselves for the results. The outcome surpassed expectations, as HootDex impressively achieved a remarkable 110,000 TPS, effectively doubling the target. This milestone moment delivered valuable insights to the team, affirming the stability, scalability, and potential for further enhancements.

Key findings from the stress test include:

  • Accurate Theories: The stress test confirmed the team’s theories and demonstrated the system’s robustness under extreme pressure.
  • Enhanced Scalability: HootDex showcased exceptional scalability, providing a clear path for future improvements to further enhance transactional throughput.
  • Continued Advancements: The stress test demonstrated that HootDex’s transactional throughput can be further enhanced to handle even greater numbers of transactions per second effectively.
  • Stellar Stability and Scalability: HootDex’s success highlighted the exceptional stability and scalability of the Pecu Novus Blockchain Network, solidifying its position as the ideal foundation for the HootDex platform.

HootDex was primarily developed as a powerful tool for institutional traders seeking on-chain transactions while maintaining control of their digital assets within a decentralized environment. The platform’s limit order and stop loss systems, built as smart contracts, seamlessly worked along side of market orders during the stress test. The SynthCryptos, Derivative CryptoPairs and Project tokens all faired extremely well during the stress test in all circumstances.

This stress test is only the beginning of the enhancement process, with the MegaHoot Technologies team continuously advancing the technology to bolster system stability, security, and scalability. Each advancement further strengthens the capabilities of the Pecu Novus Blockchain Network. In the coming weeks, after thorough sandbox and real time stress testing, HootDex will begin to release documentation on it’s Prime REST API for order placement and historical data, FIX API for High Frequency Trading/Swapping and Prime Websocket Feed for real time market data.

During the fourth quarter of 2023, MegaHoot Technologies will be stress testing the NFT marketplace, Fortis Auction Blockmarket “FortisAB”, system to push the limits of scalability, security and efficiency. FortisAB is a layer-2 system that is built on the Pecu Novus Blockchain Network and is being enhanced to improve the overall system. As a security measure FortisAB only list NFT’s that are created via the MVault, the MVault is a comprehensive digital safety deposit box with escrow and cold storage capability for all things created on the Pecu Novus Blockchain Network, including NFTs.

Moving forward, MegaHoot Technologies plans to conduct additional stress tests pushing HootDex to its limits to optimize and refine its performance even further for the benefit for all HootDex members, retail and institutional.

About MegaHoot Technologies, Inc

MegaHoot Technologies is an innovative and diverse American software and technology company that is building a global ecosystem that will incorporate comprehensive tools for business that include Artificial Intelligence (Facial Recognition, Computer Vision, Biometric), Machine Learning, Secure Collaboration Technology, Advanced Blockchain Technology, eCommerce and Gaming platforms, as well as other disruptive technological innovations. MegaHoot’s core focus is on developing such disruptive technology in these arenas in order to provide cost effective and advanced solutions for global enterprise, municipalities and individual use via a SaaS (Software as a Service) model. www.megahoot.com  www.hootdex.com

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state in which such offer, solicitation or sale would be unlawful, and qualification under the securities laws of any such state. This press release contains forward-looking statements. The use of any of the words “anticipate”, “believe”, “expect”, “plan”, “intend”, “can”, “will”, “should”, and similar expressions are intended to identify forward-looking statements. The forward-looking statements contained herein are based on certain key expectations and assumptions made by the Company, including but not limited to expectations and assumptions concerning the receipt of required regulatory approval. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. The forward-looking statements contained in this press release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

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