Swirlds emerges from stealth with alternative to blockchain
US-based Swirlds has launched its hashgraph distributed consensus platform, an alternative to blockchain, and free for public download and use by developers.
Swirlds says it has “emerged from stealth” with the launch and says its hashgraph “goes beyond blockchain”.
Dr. Leemon Baird, founder and CEO of Swirlds, says: “Current stock markets are fair in matching buyers and sellers, but they require trust in a single company. Systems like Bitcoin have distributed trust, but do not ensure fair ordering of events. Swirlds provides the first distributed consensus platform that can be both fair and distributed, with high performance at scale.”
He adds that developers can create ledgers, markets, identity applications, cryptocurrencies, and social collaboration applications on the Swirlds platform.
The firm is pitching its solution as an alternative to blockchain, which it believes has “practical limitations”. Swirlds says its platform can “build and run shared worlds”, which are fully distributed and create peer-to-peer networks without the need for a central server.
Along with the launch, it has started a seed funding round led by Ping Identity, a US-based “identity defined security” company. Together, they will demonstrate early stage proof of concept for a new identity management system, one of the “many applications” that can be built on the Swirlds platform.