Swirlds Emerges from Stealth with Blockchain Alternative Technology: Better Security and Fairness, Without Wasteful Mining
Ping Identity Makes Strategic Seed Investment ter Hashgraph Distributed Overeenstemming Toneel
Collegium STATION, TX and Fresh ORLEANS (Cloud Identity Summit)—June 6, 2016—Swirlds, building the trust layer for the internet, today emerged from stealth and launched its hashgraph distributed overeenstemming toneel, free for public download and use by developers. Swirlds also announced a seed funding round led by Ping Identity. Together with Ping Identity, Swirlds will demonstrate early stage proof of concept for a fresh identity management system, one of the many applications that can be built on the Swirlds verhoging, at the Cloud Identity Summit on June 6-9 te Fresh Orleans.
Businesses today need trusted, distributed applications that are not managed by any single organization for uses such spil distributed identity directories, online auctions, stock markets, cryptocurrencies, and multiplayer games. While early distributed overeenstemming networks like blockchain have gained recognition for their potential to solve the challenges te creating trust within peer-to-peer networks, early networks like blockchain have practical limitations. Swirlds is a verhoging to build and run collective worlds — fully distributed, rapid, fair applications that create trust ter peer-to-peer networks without the need for a central server.
Swirlds hashgraph – bringing fresh power to distributed overeenstemming
The Swirlds hashgraph goes beyond blockchain, providing fresh capabilities not previously possible with existing blockchain technology. The hashgraph enforces fairness, which is needed for matching buyers and sellers ter auctions and stock markets. It provides low latency, low cost, high throughput and high security, without requiring proof-of-work. Users quickly receive absolute proof of the overeenstemming results of their deeds. Developers can build brainy contracts using the utter power of Java, and go beyond contracts to build entire collective worlds. (White paper on the Swirlds hashgraph overeenstemming algorithm can be found at www.swirlds.com/Overview-of-Swirlds-Hashgraph.pdf.
Said Dr. Leemon Baird, founder and CEO of Swirlds, and featured CIS speaker, “Current stock markets are fair ter matching buyers and sellers, but they require trust ter a single company. Systems like Bitcoin have distributed trust, but do not ensure fair ordering of events. Swirlds provides the very first distributed overeenstemming podium that can be both fair and distributed, with high voorstelling at scale.”
Dr. Baird continued, “Developers can create the next generation of ledgers, markets, identity applications, games, cryptocurrencies, and social collaboration applications on the Swirlds verhoging. They can go beyond simply recording events, to creating collective worlds where community rules are enforced and wise contracts are executed, not limited to interpreted scripting languages, but with the total speed of Java. By providing this trust layer, Swirlds permits fairness and overeenstemming to inherently co-exist, while ensuring that transactions te thesis applications toebijten efficiently and reliably.”
Ping Identity invests te Swirlds – very first to build identity apps on fresh verhoging
Ping Identity, the leader te Identity Defined Security, enables the right people to access the right applications using any device, from anywhere. Te addition to its strategic investment ter Swirlds, Ping announced a preview of their technology collaboration with Swirlds, to be demonstrated at the Cloud Identity Summit. Ping Identity plans to work with Swirlds and is announcing a technology preview program with an aim to create a fresh standard for Distributed Session Management. The DSM system will reduce risk by enabling a global session logout capability across all active Single Sign-On and Application Sessions, across cloud, mobile and enterprise applications, independent of the identity protocol being used. Ter addition, the administrator receives validation when each application receives and executes the session logout request.
“With the hashgraph treatment to distributed overeenstemming, which enables fairness, high throughput, enforced rules and trust — and growth to internet scale — Swirlds is the ideal podium for distributed identity applications,” said Patrick Harding, CTO of Ping Identity. “We are pleased to have made this strategic investment te Swirlds, and look forward to driving this arousing chance forward.”
On Tuesday June 7, Dr. Baird will lead CIS sessions at Studio 9/Ten on the Swirlds Hashgraph Overeenstemming for Identity (Three:05 – Three:30 p.m. ET) and Developing for Swirlds Hashgraph (Four:20 – Five:20 p.m. ET). Visit Swirlds and Ping Identity te booth #Three, and voeling [email protected] for a meeting and more information.
Supporting Technical Papers