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Parity's Substrate Solution To Accelerate Blockchains Launch

15:07 24/10/2018

Gavin Wood, the founder of a blockchain company Parity Technologies, demonstrated the launch of a blockchain in 15 minutes at the Web3 conference in Berlin on October 23, TechCrunch informs.

 

Parity, a British firm, is known as a supplier of solutions on distributed ledger and the developer of one of the most famous Ethereum clients, which was co-founded by Wood.

 

In front of the conference participants, Wood took out a new Mac laptop, turned it on, and soon launched the blockchain, showing how fast this process can be now.

 

The structural scheme of this distributed ledger is called Substrate and can be considered the basis for creating blockchains and the Polkadot protocol, which is the fundamental technology of Parity. It is parallel chains linking various kinds of blockchains. Its launch is scheduled for late 2019.

 

Parity stated that despite the overall goal of the Polkadot and Substrate solutions, they are technologically different. The latter resembles the software or a PC that can be used to create an app, and Polkadot plays its role by connecting a network card to that computer.

 

The beta version of the Substrate 1.0 solution will be launched in November 2018 and, according to Wood, will be the biggest step against blockchain maximalism, which poses obstacles and deprives technologists of job satisfaction. The new solution will provide more freedom to developers with minimal efforts. It will become a milestone for the shift to a "multi-chain world".

 

As previously reported, Parity Technologies released a beta version of a hardware crypto storage.

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