Chain launches open source blockchain solution based on Microsoft's blockchain-as-a-service platform - Chain Core Developer Edition

San Francisco blockchain startup Chain has launched a developer version of Chain Core, a distributed ledger infrastructure built for banks, in a move that will allow mainstream finance to leverage blockchain technology.

Similar to most cryptocurrency networks, such as Bitcoin, developers and users will be able to run their applications and platforms on the Chip Core test network, which is backed by leading organizations such as Microsoft and the Initiative for Cryptocurrency and Contracts ( IC3， Initiative for Cryptocurrency and Contracts ), which is jointly run by Cornell University, UC Berkeley, and the University of Illinois.

Ryan Smith, Chain CTO, said:

“We are excited to make the Chain platform openly accessible to developers everywhere. Chain Core Developer Edition provides a seamless end-to-end experience for designing, building, and testing prototypes on a system we built from the ground up to meet the scalability and security requirements of the financial industry.”

The Importance of Testing Network Integration

The Testnet, or testing environment, provides developers with the ability to test their applications on the Chain Core protocol without having to leverage their own security measures and user base. More importantly, it allows the Chain development team to observe how applications perform on the blockchain network.

The existence of the test network can benefit the Chain development team and the network's application developers. Both parties can discover potential security vulnerabilities through the test network and then prepare for the actual deployment of the platform.

This careful and thorough approach will ultimately transform the Chain blockchain network into a more secure, flexible and adaptable protocol for larger financial institutions and banks.

Chain further pointed out that after years of cooperation with large financial institutions, Chain finally created the Core developer version. This means that the Chain Core protocol has been tested and utilized by its partner financial companies to ensure its performance and enterprise-level security.

Microsoft Azure Cloud Platform

The Chain Core developer version of the test network is based on Microsoft Azure Blockchain as a Service (Baas) platform, a cloud platform with effective scalability and functionality.

Developers of the Chain Core protocol can maximize the usability of Microsoft's blockchain-as-a-service platform and increase the applicability of Chain network applications. Due to this flexibility, Chain Core is ready for use in a wide range of industries, including banking, insurance and capital markets.

Andrew Miller, professor at the University of Illinois and IC3 Vice President, further emphasized IC3’s role in the development and creation of the Chain Core network, noting the importance of partnerships with established institutions in improving security and protocol design.

“We are pleased to be one of the operators of the Chain test environment. We have collaborated with Chain on protocol design and encourage developers to create secure blockchain applications.”