Blockchain technology has provided a way to maintain consensus across all nodes with no central authority. However the technology faces fundamental issues like a lack of real-time transaction settlement and scalability. Despite improved consensus algorithms, current blockchain implementations use nodes that synchronize one block at a time. This results in slow confirmation times, one of the biggest factors stopping blockchain technology from being widely used across many industries. Although third-generation Smart Contract platforms such as Cardano and EOS have emerged, scalability issues have not been resolved.