Perun takes second place in TU ideas competition


The team of the StartUpSecure-funded project ProChain accepted the award at the ceremony during the Startup & Innovation Day

In the "Scientists" category, Team Perun was awarded with the second place in this year's TU Ideas Competition for its "ProChain" project. In the StartUpSecure-funded project, high-performance block chain systems are being developed that can process more transactions without waiting times at significantly reduced fees compared to current (payment) systems. The prize is endowed with 2,000 euros. First and third place went to the Sooqua and Caliberation teams.

Blockchain is seen as the technology of the future for secure payment systems. Nevertheless, block-chain systems are not yet suitable for simple transactions with high volumes according to the current state of technology. The "ProChain" project aims to change this. Thanks to the use of a so-called ProChain technology, it should soon be possible to settle payments of even the smallest amounts of money accurately and cost-effectively to the second. The transaction data will be protected by the new technology and will not be accessible to the public, as is currently the case. ProChain thus combines all the advantages of block chains with a high level of data protection and increases the mass suitability of block chain systems. This enables its use in new fields such as the energy sector: billing of electricity deliveries or payments to electric charging points can be carried out quickly, across suppliers and at low cost.

Keynote speaker Frank Thelen also spoke after the award ceremony about the great relevance of blockchain and its significance for the future.

About the TU Ideas Competition

The TU Ideas Competition offers members of the TU Darmstadt the opportunity to advance their own innovative product or business ideas or research results with commercialization potential. In a protected environment and by proven experts from industry and research, the submitted ideas are tested for their marketing or innovation potential. The best ideas will be awarded following a multi-stage selection process and presented to representatives from business and politics at the Startup & Innovation Day. The prize is awarded in two categories: "students" and "scientists". The annual competition is initiated by the HIGHEST Innovation and Start-up Centre.

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