Hyperledger Sawtooth is Ready for Business

Intel’s "Hyperledger Sawtooth" version 1.0 released
30 January 2018   724

Today it was revealed that Hyperledger Sawtooth is officially ready for enterprise use. It is now also the second open-source blockchain platform after Hyperledger Fabric.

With the release, Sawtooth marks the business debut of a new consensus mechanism called “proof-of-elapsed-time” (PoET). So, instead of having the participants to solve a cryptographic puzzle, the algorithm uses special processor instructions to ensure new blocks are produced randomly like a lottery; no work required. Potentially, anybody with the CPU that supports new instruction is eligible to be part of the consensus process, and it is very energy-efficient.

This very instruction also provides hardware security solutions for enterprises that want to integrate Sawtooth into its business line. Thus, Intel delivers a balance between utilizing the strengths of a public blockchain with transaction volume and enterprise security demands.

The final version also supports Solidity smart contract language, along with Go, Javascript, Python. Among the early companies who already use Hyperledger Sawtooth are Huawei, T-Mobile and Amazon.

As for the reactions on social networks, some Twitter users were sarcastic: @MadBitcoins said “How is this breaking?”; and @kgorin said “Does it leak memory too?”. Some were optimistic: @minigin_courses said “Sweet!!!! $btc #Bitcoin”.

American Express to Use Blockchain for Loyalty Program

Program will allow merchants to reward customers for purchasing specific items at their stores
24 May 2018   111

The international payment giant American Express (AmEx), in partnership with the Hyperledger consortium and the online retailer Boxed, integrates distributed ledger technology into its customer loyalty program. This is reported by AP News.

According to AmEx representatives, Hyperledger technology allows merchants to create various reward programs. The latter, in particular, allow to reward American Express cardholders for purchasing goods in partner networks of stores.

Also, the project participants note that the program implemented in partnership with Boxed allows customers to earn five times as many loyalty points as usual. The new technological solution allows commercial firms to increase the involvement of their AmEx cardholder customers by offering products tailored for them, as well as regulating the reward structure.

AmEx partners have the right to independently choose products for which they would like to increase demand through a compensation program. The only exception is firearms, tobacco and alcohol products. American Express, in turn, reserves the right to independently choose the promoted brands.

According to representatives of American Express, a full version of the new blockchain system can be launched in the coming weeks.