“Your Next Step to the Blockchain”: Bitfury Group's Exonum Platform Release

    The Bitfury Group is launching its own open-source Exonum blockchain framework , which will enable companies and government organizations to implement secure blockchain solutions.

    They plan to use the technology to approve election results and protect copyright of content creators in the digital space. Exonum will help to “transfer” public service delivery systems in Ukraine to the blockchain environment. And the platform is already used in Georgia, where registration of property rights is implemented on the basis of Exonum.



    There are many solutions on the market that allow businesses to create their own distributed ledgers (DLT) or use this technology for their needs. However, DLT in its essence resembles a distributed database, which lacks the security benefits offered by a real blockchain.

    The history of a distributed registry can be rewritten by collusion of a group of nodes; moreover, such a system does not have tools for conducting an automatic audit. Exonum, in turn, is a solution for building an authentic and functional blockchain, guaranteeing security, transparency and controllability.

    Exonum is a completely open solution, so users can access not only the entire code library, but also client software for blockchain management.

    “Almost 2 years of in-depth analysis and testing of various blockchain concepts, and we are launching the platform. Exonum is the result of the joint efforts of our fantastic team of mathematicians and world-class scientists, talented developers and analysts.

    Respecting the basic principle of openness and accessibility of blockchain and bitcoin, we decided to make the platform open to everyone involved in the development of blockchain solutions to help governments and businesses unleash the most powerful potential of the technology ”

    - Valery Vavilov, CEO of Bitfury Group

    Exonum is based on the Rust programming language, one of the safest PLs to date. At the same time, Rust is faster than Java, Go, C and C ++ and is constantly being improved .

    The source code for the platform is in the project repository on GitHub . Additional information is available on the official Exonum website .

    Exonum uses a special Byzantine consensus algorithm that guarantees data security (even in the event of a node failure due to a malfunction or malicious activity) and does not require block mining. The algorithm allows the blockchain to process about 3 thousand transactions per second.

    Exonum platform also offers work with smart contracts in a corporate environment. Exonum smart contracts, like Ethereum and Fabric, represent business logic added to the blockchain, but they have more performance (and memory security thanks to Rust) compared to competitors.

    Exonum is tied to the Bitcoin blockchain, that is, it periodically sends block hashes to be included in the supporting public blockchain in the format of transaction certificates. To attack a network protected by binding to an open blockchain, attackers have to simultaneously overcome consensus mechanisms for an exclusive blockchain and for a supporting chain, which requires tremendous computing power.

    For the first time, the Exonum platform was presented at the RustFest 2017 conference, where the capabilities of the new framework were shown and a workshop on creating their own cryptocurrencies was held. We will introduce Exonum to a wide IT community at a series of conferences and webinars in the near future. Among the cities are: Amsterdam, Berlin, San Francisco, Beijing, Kiev , London, Washington, etc.

    A meeting of developers and technical specialists “ Exonum: Your Next Step to Blockchain ” will be held in Moscow. July 18 (from 17:30 to 21:00), on Tuesday, with the support of CROC. The event will be devoted to the practical application of blockchain solutions in a variety of industries: government, logistics, real estate, medicine and other fields.

    Listeners will be able to receive real-time answers to any questions from the first lips of Exonum developers, get acquainted with the platform's capabilities and see how a new cryptocurrency is created on its basis.

    You can sign up for the Moscow (July 18) and Kiev (July 20) mitaps here and here .

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