Blockchain News

Parity Launches Blockchains tool – Substrate

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As per a recent press release published on Tuesday, December 18, Parity has launched a beta version of a tool for creating customized blockchains for decentralized applications. The tool is named as Substrate. Parity is a United Kingdom-based blockchain infrastructure provider

As per the press release Substrate is more like a Do it yourself tool, which is designed to provide “maximum technical freedom” while creating blockchains. Apart from providing the freedom to do things it also supports multiple programming languages in which users can make their consensus mechanisms. It is also compatible with most of the existing consensus algorithms.

Parity also stated that it should be adding more consensus mechanisms in its following releases which will make the tool a hot-swappable and will let users shift between different mechanisms without any major difficulty.

Gavin Wood, the founder of Parity, who also co-founded Ethereum, said: “Substrate takes all of our lessons learned in building Ethereum and Polkadot and distills that down into a stack of tooling that allows you to get all of those same rewards.”

He further adds that Parity has tried to utilize all the learning which it gained during building the Ethereum ecosystem and Polkadot, a protocol that allows users to link different types of blockchains. Wood had initially announced the launch of Substrate in October 2018 at the Web3 Summit which was held in Berlin, where he stated that the tool “will be a turning point” in the transition to a “multi-chain world.”

Wood further said that with Substrate, “you don’t have to know everything, you don’t have to do everything to develop your whole new blockchain, but you can do just enough that you do have a domain-specific chain, that has its parameterization, and its features that allow you to get a particular job done.”

Currently, the beta version of Substrate is licensed under the GNU General Public License, but to match up to its intention of providing maximum freedom to the developer, the tool’s repository will soon be moved to an Apache 2.0 license. Professional help shall also be provided by Parity to the organizations that are seeing Substrate to build apps.

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