Intel has just released a new product on Github called “Sawtooth Lake” – a highly modular platform for building, deploying and running distributed ledgers to provide companies that don’t need a central authority with the ability to run their own Blockchains.
Sawtooth Lake will allow companies that have no need for a central authority essentially to run their own Blockchain, providing a permanent digital record.
In Sawtooth Lake the data model and transaction language are implemented in a “transaction family” and Intel will provide three transaction families that are sufficient for building, testing and deploying a marketplace for digital assets:
- EndPointRegistry – A transaction family for registering ledger services.
- IntegerKey – A transaction family used for testing deployed ledgers.
- MarketPlace – A transaction family for buying, selling and trading digital assets.
This set of transaction families provides an “out of the box” ledger that implements a fully functional marketplace for digital assets.
Sawtooth Lake abstracts the core concepts of consensus, isolates consensus from transaction semantics, and provides two consensus protocols with different performance trade-offs. The first, called PoET for “Proof of Elapsed Time”, is a lottery protocol that builds on trusted execution environments (TEEs) provided by Intel’s SGX to address the needs of large populations of participants. The second, Quorum Voting, is an adaptation of the Ripple and Stellar consensus protocols (Ripple and Stellar developed consensus protocols that extend traditional Byzantine Fault Tolerance for open participation) and serves to address the needs of applications that require immediate transaction finality.
For the purpose of achieving distributed consensus efficiently, a good lottery function has several characteristics:
- Fairness: The function should distribute leader election across the broadest possible population of participants.
- Investment: The cost of controlling the leader election process should be proportional to the value gained from it.
- Verification: It should be relatively simple for all participants to verify that the leader was legitimately selected.
Sawtooth Lake provides a Nakamoto consensus algorithm called PoET that uses a trusted execution environment (TEE) such as Intel® Software Guard Extensions (SGX) to ensure the safety and randomness of the leader election process without requiring the costly investment of power and specialized hardware inherent in most “proof” algorithms. Their approach is based on a guaranteed wait time provided through the TEE.
Basically, every validator requests a wait time from a trusted function. The validator with the shortest wait time for a particular transaction block is elected the leader. One function, say “CreateTimer” creates a timer for a transaction block that is guaranteed to have been created by the TEE. Another function, say “CheckTimer” verifies that the timer was created by the TEE and, if it has expired, creates an attestation that can be used to verify that validator did, in fact, wait the allotted time before claiming the leadership role.
The PoET leader election algorithm meets the criteria for a good lottery algorithm. It randomly distributes leadership election across the entire population of validators with distribution that is similar to what is provided by other lottery algorithms. The probability of election is proportional to the resources contributed (in this case, resources are general purpose processors with a trusted execution environment). An attestation of execution provides information for verifying that the certificate was created within the TEE (and that the validator waited the allotted time). Further, the low cost of participation increases the likelihood that the population of validators will be large, increasing the robustness of the consensus algorithm.
Intel’s “proof of processor” algorithm scales to thousands of participants and will run efficiently on any Intel processor that supports SGX.
The Sawtooth Lake platform is distributed in source code form with an Apache license. You can get the code here and start building your own distributed ledger.
- Factom Launches Revolutionary Blockchain Suite of Mortgage Products - March 24, 2017
- Qtum Shatters ICO Records Raising $15.6 Million - March 24, 2017
- Blockchain Startup Sphre Announces ICO (Crowdsale) for Digital Identity Platform Called Air - March 22, 2017
- Kestrel sign ups to MTI’s blockchain driven solutions to deliver global growth - March 22, 2017
- The G20 Countries Should Investigate Blockchain Technologies to Build an Inclusive, Transparent, and Accountable Digital Economy for All - March 21, 2017
- Particl, a Distributed Marketplace Rethinking Privacy’s Future – Announced Seed Round - March 21, 2017
- ZrCoin To Do Initial Coin Offering (ICO) to Crowdfunds Commodities Option - March 21, 2017
- Canada’s Scotiabank and AlphaPoint Announce Successful Blockchain Trial - March 21, 2017
- Canada’s SecureKey taps IBM to put identity on the Blockchain - March 21, 2017
- Blockchain Startup Humaniq Launches London Office - March 21, 2017
- QRL Recruits Testers for High Security Quantum-Resistant Blockchain - March 20, 2017
- Blockchain of Things, Inc. Releases Paw Advanced REST Client Integration - March 19, 2017
- ConsenSys Named Official Blockchain City Advisor for the City of Dubai - March 16, 2017
- Bloq Launches BloqLabs to Connect Enterprises with Open Source Blockchain Innovations - March 16, 2017
- Multi-Million Dollar Research Institute Launched to Explore Blockchain Use Cases, Opportunities and Challenges - March 16, 2017
- Chamber of Digital Commerce Forms the Blockchain Intellectual Property Council - March 16, 2017
- Orebits & Symbiont Deploy Blockchain Technology to Digitize Gold Ownership - March 16, 2017
- Blockchain Capital to Raise its Third Fund via a Digital Token Offering in The First Liquidity-enhanced Venture Capital Fund - March 16, 2017
- The Exscudo Channels App Is A New Mobile Wallet And Secure Messenger - March 14, 2017
- Dao.Casino – Decentralising the Gambling Economy - March 14, 2017
- Chain of Points Adds American Internet Entrepreneur Jeff Pulver to Board of Advisors - March 14, 2017
- Nasdaq Releases NYIAX – A Blockchain-Enabled, Cloud-Based Media Trading Platform - March 14, 2017
- Lunyr Announces Crowdsale for the First Decentralized World Knowledge Base on Ethereum - March 14, 2017
- Coinsource, World’s largest bitcoin ATM network, Completes Historic Bulk Installation on US West Coast with 35 ATMs - March 14, 2017
- Bitwala Offers Bitcoin to M-Pesa Services in Kenya, Nigeria, Uganda, and Tanzania - March 12, 2017
- US SEC Regulators Reject Bitcoin ETF, Price Plunges, Recovers - March 11, 2017
- Google’s DeepMind plans Blockchain Health Record Tracking for Hospitals - March 10, 2017
- Coalition Forms to Address Digital Asset Taxation Uncertainty - March 10, 2017
- Livecoin, the Fourth Largest Altcoin Exchange Is Now Available in Eight Languages - March 9, 2017
- Australia Releases Blockchain Standards Roadmap - March 6, 2017
- Hyperledger Fabric Graduates with Honours – It’s Live! - March 4, 2017
- TaaS, the First Fully Transparent Closed End Fund Dedicated to Blockchain Assets, Adds International Banking and Marketing Experts as Advisors - March 2, 2017
- Kraken Acquires Cryptowatch and Launches New Trading Platform - March 1, 2017
- Switzerland’s Crypto Valley Association Founded To Build World’s Leading Blockchain and Cryptographic Ecosystem - March 1, 2017
- Massive Launch by Blockchain Industry for New Enterprise Ethereum Alliance - March 1, 2017
- Monax Joins Hyperledger Project, Brings Ethereum Technology - February 28, 2017
- Chain of Points Adds Internet Pioneer and iPayYou Founder Gene Kavner to Board of Advisors - February 27, 2017
- Chamber of Digital Commerce and Structured Finance Industry Group Partner to bring Blockchain to Securitization - February 27, 2017
- Blockchain Startup Bloq Acquires Blockchain Analytics Pioneer Skry - February 27, 2017
- Edgeless.io Launches its ICO to become the first fully transparent Casino, Offering 0% Edge - February 27, 2017
- Storj Labs Raises $3 Million in Seed Funding - February 26, 2017
- Northern Trust And IBM Pioneer Use Of Blockchain Technology To Help Transform Private Equity Administration - February 26, 2017
- 0x – An Open Protocol for Decentralized Exchange on the Ethereum Blockchain - February 26, 2017
- Global Blockchain Project FERMAT Announces Significant Alpha Release for the “Internet of People” - February 26, 2017
- Blockchain Startup Peerplays Raises $4m Before ICO Even Kicks Off - February 26, 2017
- Numerai Launches Cryptocurrency and New Hedge Fund Built By Data Scientist Network - February 26, 2017
- Disrupt the VC Industry? Brock Pierce and Blockchain Capital to Launch Own Cryptocurrency and ICO - February 26, 2017
- SoftBank, Sprint and TBCASoft Partner in Blockchain Technology for Telecom Carriers - February 25, 2017
- Lisk Introduces New Blockchain Technology Update - February 25, 2017
- Dash Partners with BlockPay to Enable Point of Sale Purchases at Brick and Mortar Stores - February 25, 2017