Earlier this week, at the Web3 Summit in Berlin, Parity Technologies founder, Gavin Wood, demonstrated launching a blockchain in about 15 minutes. Up to now, this has required days and weeks to achieve.
Parity describes itself as “a core blockchain infrastructure company. We’re creating an open source creative commons that will enable people to create better institutions through technology.”
The software platform used, Parity’s Substrate 1.0-beta, is anticipated to be available in November 2018.
Substrate is the foundation for Polkadot, which is a standalone blockchain framework which will allow developers to build advanced blockchains, customized for any project. This is intended to dramatically accelerate the development of blockchain technologies.
Gavin Wood is described on the Parity website as “originating blockchain technology as Co-Founder and CTO of Ethereum. He invented fundamental components of the blockchain industry, including Solidity, Proof-of-Authority consensus, and Whisper. At Parity, Gavin currently leads innovation on Substrate and Polkadot. He coined the term Web 3.0 in 2014 and serves as President of Web3 Foundation.”