Symbiont Releases Institutional Finance-Grade Smart Contracts Blockchain

The launch contrasts with some competing projects' failure to deliver production-ready blockchain technology.

Smart Securities blockchain startup Symbiont has released a software development kit for Assembly, its permissioned distributed ledger component meant for use in institutional finance. It promises a secure, high performance Byzantine fault-tolerant distributed ledger, able to process a sustained 80,000 transactions per second in a regional multi-node network.

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“Decentralized systems no longer have to be slow,” said Symbiont’s co-founder and CTO Adam Krellenstein. “With Assembly, we’ve proven that.”

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Assembly is an immutable and cryptographically secured datastore and messaging system designed for use in a decentralized network. Assembly serves as the foundation for Symbiont’s Smart Securities platform, which allows users to issue, manage, locate and trade traditional financial instruments efficiently in a single, global, peer-to-peer financial network.

Included in the Assembly release are the public specifications for a ledger API, a mock ledger server, a ledger client library, example client applications and integration tests.

“We’ve proven that we can build a fast, secure and powerful distributed ledger capable of meeting the high demands of institutional finance,” Krellenstein said. “Assembly is now available to developers struggling to achieve an institutional-quality distributed ledger, and we welcome inquiries from those wishing to build blockchain applications on it.”

Symbiont is the technology partner for the State of Delaware’s Blockchain Initiative (DBI), is partnering with Ipreo to revamp the $4.7 trillion syndicated loan market, and provided blockchain technology for a large European insurer’s catastrophe swap pilot project in June 2016.

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