Symbiont has just released a new version of a software development kit for Assembly, the permissioned distributed ledger component of Symbiont’s smart contracts system. Assembly is the first distributed ledger appropriate for use in institutional finance. It is a highly secure, high performance Byzantine fault-tolerant distributed ledger, able to process a sustained 80,000 transactions per second in a regional multi-node network. This result corresponds to the maximum performance measured in academic studies of the consensus protocol used by Assembly.
“Decentralized systems no longer have to be slow,” said Symbiont’s co-founder and CTO Adam Krellenstein. “With Assembly, we’ve proven that.”
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.
The successful launch of Symbiont’s permissioned distributed ledger component contrasts with the challenges that competing projects have encountered in delivering production-ready blockchain technology, ranging from poor performance to instability. 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—all of which are hosted on the Symbiont GitHub page.
“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 a market-leading smart contracts platform for institutional applications of distributed ledger technology. Disclosed users of its platform include 15 financial institutions for Smart Loans, arranged by Credit Suisse and executed via its syndicated loans joint venture with Ipreo; the State of Delaware for Smart Records; and a major European insurance company for Smart Swaps in the catastrophe insurance market.