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VMware today formally entered the blockchain business with the commercial launch of VMware Blockchain, a platform designed to allow companies to build networks and deploy decentralized applications.
The new service, which has been in the works for several years, offers enterprises an extensible and scalable enterprise-level platform to unlock data silos and free data for secure flow, privately and instantly. The service was previously launched in closed beta in 2018.
Enterprise-grade blockchains aren’t exactly new in 2020, and cutting the gaps between one and the other is a challenge. VMware says its blockchain service offers “Scalable Byzantine Fault Tolerance,” which it describes as an “enterprise-grade consensus engine … designed to solve scale and performance problems in blockchain solutions while preserving fault tolerance and defense against malicious attacks “.
In this case, a consensus engine is a mechanism used to reach the necessary agreement on a single data value or a single state of the network between distributed processes; its code that makes various data transactions agree. Byzantine Fault Tolerance itself is not new, having been designed in the 1990s, but VMware says its implementation is superior in maintaining decentralized trust with support for continuous governance in multi-party networks.
VMware Blockchain offers a layered architecture that is said to decouple the ledger from the smart contract language. The blockchain supports DAML, an open source contract language created by partner Digital Asset Holdings LLC.
The first implementation of VMware Blockchain is on the Australian Stock Exchange Ltd., which has been collaborating with Digital Asset since 2017 to develop a blockchain-based alternative to its CHESS electronic payment system which was implemented in 1995. The implementation at l ‘ASX includes the use of DAML smart contracts for settlements.
“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 require reliable, high-performance blockchain services,” Brendon Howe, vice president and general blockchain manager at VMware, said in a statement. “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.”
Image: VMware
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