Intel launches Sawtooth Lake blockchain platform

Technology giant Intel has launched an experimental distributed ledger platform called Sawtooth Lake.

Intel’s code contributions to the open-source Hyperledger blockchain project were also posted to GitHub today, along with a tutorial for implementing them.

Intel describes the project as a “ highly modular platform for building, deploying, and running distributed ledgers .”

Based on the limited information provided, Intel may be looking to build a “fully functional” digital asset trading platform, an earlier project it alluded to in February when it demonstrated a fantasy sports market using blockchain during the Hyperledger conference. Under the project, users would exchange digital shares in sports and seek to earn the highest number of virtual currencies, called “ mikkels .”

In addition, before participating in the Hyperledger project, Intel also participated in the research and development of mining chips for Silicon Valley Bitcoin startup 21 Inc.

Dual consensus algorithm

Intel said its proposed platform uses two established consensus algorithms, one inspired by Bitcoin and another related to the consensus algorithms of the Ripple and Stellar networks.

The company explained:

“The first one, called PoET (Proof of Elapsed Time), is a lottery protocol built by Intel in a trusted execution environment. The second one, called Quorum Voting Voting, uses the consensus protocols of Ripple and Stellar to solve the need for immediate transaction finality.”

The company said that based on the data it has, the system has the ability to scale to "thousands of participants."

However, Intel also warned that the platform is still experimental, so users are advised not to use it to publish sensitive applications.

It is reported that more and more companies have participated in the Hyperledger project and made contributions so far, including IBM, Digital Asset Holdings (DAH) and Blockstream, which have submitted codes. In addition, JPMorgan Chase has also submitted a proposal in recent weeks.

So far, 40 member institutions have participated in the Hyperledger project.

Original article: http://www.coindesk.com/intel-sawtooth-lake-distributed-ledger-proposal/
By Stan Higgins
Translation: Overnight porridge
Source (translation): Babbitt Information (http://www.8btc.com/intel-sawtooth ‎)