WANdisco, the LiveData company, announced the availability of its Distributed Coordination Engine (DConE) to provide highly secured and reliable transactionality for permissioned blockchains (i.e. digital ledgers) within the financial sector, and other business critical applications and use cases.
This new use of DConE, the only commercialized version of the Paxos algorithm, will offer a guaranteed fault-tolerant alternative to the Raft algorithm, commonly used in digital ledger technologies such as Hyperledger Fabric and R3 Corda. Serving as the basis of WANdisco’s solutions, DConE has been previously used to provide:
- Multi-site replication of Subversion and Git repositories
- The migration and replication of business-critical data to cloud service providers such as Microsoft Azure and AWS
- Keeping Hadoop-compatible file systems, Apache Hive and Databricks data consistent across on-premises and multi-cloud environments
Recommended AI News: Firebolt Ignites Growth With a $127 Million Series B Funding; Empowers Engineers to Deliver Sub-Second Analytics Experiences
“After our success in coordinating software collaboration, and LiveData migration and replication to the cloud, we saw an opportunity to provide DConE as a solution for enterprises requiring high availability of their distributed ledgers,” said Dr. Yeturu Aahlad, Co-founder and Chief Scientist, WANdisco. “DConE is based on the Paxos algorithm, which is the gold standard of consensus algorithms. The new application is a natural extension of this unique and powerful technology, and gives blockchain application customers the peace of mind that their systems are guaranteed to never break.”
Dr. Aahlad commercialized the Paxos algorithm to make the internet more efficient, trusted and reliable for business critical use cases. Aahlad and WANdisco’s other co-founder, CEO David Richards, realized the cloud was going to play a huge part in advanced analytics. DConE was created to be the differentiated technology underpinning WANdisco LiveData Cloud Services, the only automated cloud migration platform on the market recommended by Microsoft and AWS for Hadoop-to-Cloud migration.
Recommended AI News: Ivno and CloudMargin Announce Strategic Partnership Combining Blockchain Technology With Collateral Management
WANdisco’s patented consensus technology works by requiring the storage points across its network to approve any transaction that may be entered. Multiple transactions can be processed simultaneously enabling a more scalable distributed ledger with shorter lag times for transactions than typical blockchain frameworks.
“We are very excited to offer DConE as a new consensus option for permissioned blockchains and digital ledger technologies,” said Richards. “This new application will continue WANdisco’s mission to deliver technology that empowers customers to benefit from the freedom of data, regardless of location and when it’s needed. We look forward to developing partnerships to further make this technology available in other frameworks.”
Recommended AI News: Kovack Securities Selects Entreda To Provide Industry-leading Cybersecurity Compliance Platform To Financial Advisors And Registered Representatives
Comments are closed.