Blockchain-based firm Manifold Technology announced the release of Manifold Platform during the Blockchain for Wall Street conference that was held in New York City.

The Manifold Platform is a high-performance, enterprise blockchain system that provides a foundation for the developers, to build better, faster, and more secure applications without the need to become blockchain experts. The platform gives the benefits of the distributed ledger technology without the complexity, latency, risks, or costs inherent in other solutions.

"My co-founder Rob Seger and I got excited about blockchain after playing around with Bitcoin a few years back. But, we knew the public blockchain didn't offer the speed or security that financial services firms needed. We are very proud to release this platform today so any developer will be able to use blockchain technology at speeds that were unimaginable to us two years ago,” Chris Finan, CEO of Manifold said, as reported by IBTimes.

The Manifold Platform is created to be accessible as a cloud-hosted service. It has four principal characteristics that include simplicity that makes it easy to deploy and easy to use, and performance that makes it eliminate the waste in block creation to achieve extremely high levels of performance and dynamic scalability. Its other key features also include security that removes attack surface by securing the asset itself in the blockchain and the platform’s control.

According to reports by IBTimes, the company said that the blockchain platform is already been used by the Royal Bank of Canada in order to transform its rewards program, and used by few R3CEV consortium member banks to showcase instant trading of fixed income assets. The Manifold blockchain platform has the capacity to handle over 10,000 transactions per second in operational environments. The entity that deploys the platform, owns and operates it, thus providing transparency of a blockchain audit record without being susceptible to external manipulation.