As Blockchain Changes The World, Bitfury’s New Platform Exonum is About to Change Blockchain

EXONUM — YOUR NEXT STEP TO BLOCKCHAIN.

As reported in CoinDesk; Press Release Here

When we started The Bitfury Group back in 2011, we were a small group of tech-savvy enthusiasts with a dream. Today we are over 250 employees strong — breaking new ground every day in Blockchain software, hardware and security.

Fundamentally, what drives our work is our deep commitment to the belief that Blockchain technology can make the world a better, easier and less challenging place for millions of people, businesses, governments and institutions and finally make systems work for people.

The Bitfury Group began as a bitcoin security company, mining Bitcoin and validating transactions. We learned quickly that Blockchain technology offered boundless potential to transform data security and integrity, processes and systems. As more and more governments, businesses and institution explore their need for these critical solutions, we know we are the company that can deliver — and Exonum is the answer.

Bitfury’s team of elite best-in-class spent mathematicians, scientists, developers and analysts spent almost two years researching Blockchain platforms, deeply analyzing and modeling different Blockchain concepts with the clear goal of creating a platform that offers high-load security and efficiency.

Today, we are proud to announce the culmination of our hard work — our Blockchain platform, Exonum.

Here are some key facts:

  • Exonum comes from “exonumia,” which means tokens or other objects used for exchange in a community or marketplace. With Exonum, you can build your own cryptocurrency, store/exchange digitized assets, or code smart-contracts for you to interact with many other entities.
  • Exonum can create, represent, and allow you to trade value, all while backed with the security of Blockchain and bitcoin.
  • An open source Enterprise-Grade Blockchain framework, Exonum is your next step to Blockchain.
  • Exonum is custom designed to securely and easily allow you, your company, institution or government to build a Blockchain system that solves your challenges and enjoys the unmatched security of the Bitcoin Blockchain, while also offering the technology’s most attractive features like transparency and smart contracts.
  • Bitfury made Exonum open-source because we wanted our expertise made available to anyone developing Blockchain-based applications, helping ensure a safe, strong and secure future for the Blockchain ecosystem.
  • Exonum’s source code can be accessed through the product’s official website and on Github. Developers are free to incorporate, adapt and extend the Exonum source code according to their needs.

Exonum is your next step to Blockchain because it is an authentic Blockchain platform; it’s ready to use, even for smart contracts; and it was designed foremost for security.

Here is additional information about Exonum:

EXONUM IS YOUR AUTHENTIC BLOCKCHAIN PLATFORM

Many solutions exist for businesses to create a distributed ledger, or use distributed ledger technology, called DLT. DLT, while a marked improvement from current systems, bears a near identical resemblance to a distributed database. A distributed database does not have the same benefits or security of a true Blockchain. In a distributed ledger, the history of the ledger can be rewritten if the nodes or actors collude to do so; further, there’s no way to automatically audit the system for a client, as the system operates just like a database.

Exonum is an authentic Blockchain — its decentralized, distributed, immutable and secured with cryptography. This gives you all of the key benefits of Blockchain — including auditability, transparency and unparalleled security.

EXONUM IS READY TO USE

It has never been easier to build and use a Blockchain-based solution using Exonum. We have open-sourced not only the entire library of code, but the client-side software you can use to manage your Exonum Blockchain as well, including a light client that gives your access to your Exonum Blockchain from nearly any device anywhere in the world. It is also easy to write and execute smart-contracts on Exonum. Exonum-based smart contracts also have the highest performance in terms of transaction processing, able to handle up to 3,000 transactions per second with an unprecedented 2.5 seconds of clearing time and up to 15,000 transactions per second in custom situations.

EXONUM OFFERS EXCEPTIONAL SECURITY

We built a custom consensus algorithm for Exonum that can keep your data safe without needing to mine blocks, even in situations where a node malfunctions or becomes susceptible to the actions of bad actors. This feature also makes it near impossible for a bad actor to add incorrect data or change the history in your Exonum Blockchain. In the case of many compromised nodes, your Exonum Blockchain still maintains its fundamental security properties, protecting your data.

We also know, given our experience with Bitcoin and its global network, that unanchored private Blockchains are more susceptible to hacks given their smaller network. We wanted to leverage the security of bitcoin while also allowing for the privacy required for permissioned Blockchains.

Your Exonum Blockchain does this by anchoring to the Bitcoin Blockchain. Anchoring is the process of saving a “snapshot” of a system state to a public source, removing the need to trust the administrator of your Blockchain unconditionally, while keeping sensitive data private. The anchoring service periodically saves a cryptographic hash reflecting the state of your Exonum Blockchain to the Bitcoin Blockchain. Even if a bad actor were to infiltrate a majority of your nodes, any changes to your Exonum Blockchain would be recorded and immediately noticeable.

Finally, Exonum is based on Rust, the most secure programming language to date.

The launch of Exonum represents a new chapter for our company — one that is committed to being your full-service Blockchain technology company, from mining to hardware to software.

After an initial exhibition at RustFest 2017, we are embarking on an international roadshow to showcase Exonum to the wider IT community. We will be visiting Amsterdam, London, Berlin, Washington, Moscow, San Francisco, Boston, Austin, Astana, Beijing, Kiev and more — with dates to be announced soon. We are enormously proud of this accomplishment, and we are excited to share it with the world.

We hope you will join us as we take this bold step into the future.