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Bitcoin Global News (BGN)

December 21, 2018 -- ADVFN Crypto NewsWire -- This week, Parity Technologies, a well-known development team in the Ethereum ecosystem, launched Substrate, which is their tool that aims to radically simplify blockchain development. Overall, to conceptualize Substrate’s utility, imagine a toolkit with which developers can develop their own blockchains in several different programming languages. On top of this, the entire environment is open source and even allows users to choose between using existing, trusted consensus algorithms or creating their own.

Reportedly, what makes all of this possible is a protocol called Polkadot, which was created by Parity to enable interoperability between many different blockchains. Any mechanism that allows a mainchain to exist in connection with many sidechains may be considered to be analogous to this.

According to CoinDesk’s latest article on the subject, none of this would have been possible without Parity’s deep knowledge of the Ethereum network, which their founder was a part of at its’ inception. With any project that aims this high however, the central question then becomes: how will it incentivize adoption of its’ tech?

In Substrate’s case, the answer to this appears to be its’ branding as the all-in-one kit for blockchain development. Beyond this, for Ethereum fans, what might be most interesting is the new code that was recently built into Substrate in October. Essentially, judging by CoinDesk’s take on the matter, it appears that Substrate will be the testing ground for the Casper protocol. If you are not familiar with Casper at this time, just think of it as the protocol that will initiate Proof-of-Stake based consensus across the Ethereum network, once it is fully implemented.

At the same time, the Parity team also aims to debut sharding with Substrate, which brings an interesting possibility to light. Perhaps Substrate will stand as the beta version of Ethereum 2.0, through which developers can work out any issues, before making the same updates live on a larger scale.

By: BGN Editorial Staff