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VMware Inc. (VMWare) recently announced the commercial availability of VMware Blockchain to provide a digital foundation that businesses can rely on to build enterprise networks and deploy business-critical decentralized applications.
With VMware Blockchain, businesses are provided with an extensible and scalable enterprise-grade platform to unlock data silos and free data to flow securely, privately, and instantly.
Companies manage data and workflows where shared sources of truth can create unrealized value, yet complexities exist. Data is often isolated within corporate boundaries, which results in inefficient and costly steps to share and reconcile data across these boundaries. A reliable multi-party network is required to preserve integrity, enable privacy, and provide enterprise-grade resilience to a global ecosystem.
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“We have focused on building an enterprise-grade blockchain platform that meets the financial services industry’s most stringent application requirements and other mission-critical distributed workloads that demand reliable, high-performance blockchain services,” said Brendon Howe. VP and general manager, Blockchain, VMware. “VMware Blockchain offers customers the business capabilities they need for production today and the flexibility to adapt to future needs in the rapidly changing blockchain space.”
Announced as a beta at VMworld 2018 Europe, VMware brings its industry-leading benefits to the VMware Blockchain platform to provide enterprise-grade features such as extensibility, security and privacy, performance and scalability. Businesses seek ecosystem-friendly solutions that create a shared source of truth and establish trust while maintaining privacy, making multi-party workflows much more efficient.
Recognizing the importance of day-0 and day-2 operations to enable enterprises to bring their blockchain solutions to production, VMware provides a full set of operational capabilities, including ease of implementation, monitoring, management, upgradeability and level support. world.
Multi-party transactions
As companies rely on blockchain to manage multi-party transactions, a key factor in the performance and scalability of a blockchain platform is the choice of the consensus mechanism implemented. VMware Blockchain’s Scalable Byzantine Fault Tolerance (SBFT), an enterprise-grade consensus engine developed internally by VMware Research, is designed to address scalability and performance issues in blockchain solutions while preserving fault tolerance and defense against malicious attacks. SBFT maintains decentralized trust and supports ongoing governance in multi-party networks.
As an enterprise-grade platform for multi-party processes, VMware Blockchain offers a unique advantage of a multi-layered architecture that separates the ledger from the smart contract language. VMware Blockchain supports DAML, an open source smart contract language created by VMware Blockchain technology partner, Digital Asset. The VMware Blockchain platform architecture includes a virtual smart contract execution engine designed to easily extend the platform to support additional smart contract languages.
A wave of building new critical infrastructure for applications in financial services, manufacturing-driven supply chain and retail and healthcare sectors is underway that leverage blockchain technologies to help address pain points experienced with disconnected systems and isolated. For financial services firms, blockchain technologies radically streamline and simplify operations, enabling banks, broker-dealers, payment processors and other financial institutions to dramatically shorten processing times, reduce manual processing and duplicate messages. and create new profit centers with features such as simultaneous clearing and settlement of trades. VMware Blockchain is leading the way for financial services customers with partners including Accenture and Digital Asset.
