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Tendermint

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Tendermint's leadership team detail their open ledger offering and tools to allow blockchain applications to be simply created.

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Tendermint

  1. 1. Bringing simplicity, security, & speed to the world’s blockchains
  2. 2. The Evolut ion of Comp uting Siloed Computers The Evolution of Computing
  3. 3. The Evolut ion of Comp uting Distributed & Centralized Networks The Evolution of Computing For trusted parties ● Powered by Fault Tolerant Consensus algorithms like Raft and Paxos. --->Coordinated replication & failover systems
  4. 4. The Evoluti on of Comput ing Distributed and Decentralized Networks The Evolution of Computing For untrusted parties; withstand ‘Byzantine’ attacks ● Powered by Byzantine Fault Tolerant Consensus algorithms --->Trust-as-a-Service
  5. 5. Blockchains: Trust-as-a-Service “The blockchain lets people who have no particular confidence in each other collaborate without having to go through a neutral central authority. Simply put, it is a machine for creating trust.” - The Economist
  6. 6. Why Enterprise Should Use ‘a Blockchain’ Lower Costs Reduce Risk Current Providers of Trust ● Depositories (Depository “Trust” Clearing Corp) ● Clearing Houses ● Banks ● Governments
  7. 7. Why Enterprise Should Not Use ‘The Blockchain’ Bitcoin doesn’t solve the needs of enterprise clients ● Regulatory Concerns: OFAC Violations ● Speed Limitations: 10-60 minutes for transactions to process ● Low Throughput: 7 txs/second
  8. 8. Bringing simplicity, security, & speed to the world’s blockchains
  9. 9. Tendermint --- Simplicity Write smart-contracts in any programming language using a simple socket protocol. Tendermint removes all of the complexity of blockchain application development, deployment, and management Keeps blockchain application developers focused on business logic.
  10. 10. Tendermint + Eris SECURITY & NETWORKING PLATFORMS APPLICATION PLATFORMS SOCKET PROTOCOLS
  11. 11. Tendermint --- Security Classical Byzantine Fault Tolerant (BFT) consensus algorithm based on peer-reviewed academic research Key characteristics of Tendermint’s security model: ● Identity: validators (miners) can be publicly identified ● BFT: requires a significant portion to collude & attack ● Accountability: identify & punish those that attack the network
  12. 12. Tendermint --- Speed Sub second blocktime & 10k txs/block “ppl want 500ms, not 17s” Bitcoin Ethereum Tendermint blocktime 10 min 17 sec sub sec TX/S 7 8 10,000
  13. 13. Build, Deploy, & Manage Use TMSP to build simply secure blockchains
  14. 14. Build, Deploy, & Manage Use mintnet to deploy blockchains to any major cloud provider in < 3mins
  15. 15. Build, Deploy, & Manage

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