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Cryptocurrencies

Enterprise blockchain Exonum released by Bitfury

Monday 17 July 2017 | 10:23 AM CET

Bitfury has made public an enterprise blockchain initiative called Exonum that has long been in development in the lab.

Bitfury Group is open-sourcing its first private blockchain framework, which aims to enable users to secure data using the Bitcoin blockchain. The software is already in use in the group’s ongoing projects, including its land title trial in Georgia, as well as an undisclosed insurance effort, according to CoinDesk.

Besides the security it tries to provide, the software also wants to deliver auditability as it enables developers to create both “full clients”, which validate the full history of the system’s data, and “light clients” that use this record to verify data. Exonum's implementations can support features including multi-signature contracts, time locks and oracles. In terms of prices, the group went so far as to address concerns about the rising costs of Bitcoin network use, and how they might impact Exonum networks that seek to tether transaction data to Bitcoin, the online publication continues.

Another major feature of Exonum is a new, unnamed consensus algorithm it claims improves on the Byzantine fault-tolerant protocols most often used today in distributed ledger proofs-of-concept.

More: Link
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