The multinational tech corporation Intel , the largest semiconductor chip manufacturer, is currently keen on blockchain technology. The Santa Clara, California-based company, announced its latest initiative called “Sawtooth Lake” this April alongside a Hyperledger technical discussion meeting. The firm intends to use the platform for building, launching, and operating distributed ledger environments. Intel says that this particular protocol provides an immutable digital record of asset ownership “without a central authority.” Is Intel’s Sawtooth Cutting Edge Technology?
Since being founded in 1968 in Mountain View, California Intel has climbed to the top of the technology corporate ladder. With blockchain technology in the ears of tech firms and investors worldwide, it’s no wonder Intel wants a piece of the action. Recently releasing a definitive Github explanation of the Sawtooth project Intel details this technology can be used for a wide array of applications. This includes “international remittance, insurance claim processing, supply chain management and the Internet of Things (IoT).” Intel describes the importance of these emerging database records saying: “Instead of a single, centralized database, participants in the ledger contribute resources to shared computation that ensures universal agreement on the state of the ledger. While Bitcoin is the most popular distributed ledger, the technology has been proposed for many different applications,” According to Intel, the experimental project is a multifaceted platform for constructing these applications. Currently, the protocol’s source code is distributed under an Apache license and developers can start molding digital ledgers from this framework. The consensus and algorithm is a touch different than the likes of Proof of Work. The platform borrows and adaptation of Ripple and Stellar consensus protocols with Quorum Voting. Sawtooth also provides an algorithm called PoET (Proof of Elapsed Time). Intel says PoET distributes consensus “efficiently” and provides the following attributes: Fairness: The function […]
