Symbiont today announced that Dr. Alysson Bessani, the co-creator of the Byzantine fault-tolerant consensus protocol BFT-SMaRt, has joined the company’s advisory board. Developed in 2014, BFT-SMaRt was designed to address deficiencies in other BFT protocols such as PBFT. Assembly, Symbiont’s decentralized log component, is based on the BFT-SMaRt consensus protocol, allowing it to achieve best-in-class security, stability and performance.
Symbiont, the market-leading smart contracts platform for institutional applications of distributed ledger technology, today announced a strategic partnership with Chinese software giant Hundsun Technologies Inc, which includes an investment by a division of Hundsun in Symbiont’s Series A-1 round. The investment is Hundsun’s first in both the United States and in distributed ledger technology. Symbiont’s board of directors granted Hundsun a board observer seat.
Symbiont has appointed Dr. Zhong Shao, a Yale professor of computer science and leading expert in formal verification of software, to its Technical Advisory Board. Together, Dr. Shao and the Symbiont engineering team are applying cutting-edge techniques in programming language design and formal methods to the task of writing and publishing smart contracts in a decentralized network. Professor Shao is working closely with Symbiont to ensure that its smart contract language supports the highest levels of security and integrity in enterprise software.
Synaps combines Symbiont's leading smart contract technology and Ipreo's new business process solution to help speed loan trade settlement. Nineteen firms participated in the demonstration, including Barclays, BBVA, Danske Bank, LSTA, Royal Bank of Scotland, Scotiabank, Societe Generale, State Street Corporation, TenDelta LLC, U.S. Bank, and Wells Fargo. Influential buy-side firms AllianceBernstein (AB), Eaton Vance Management, KKR, and Oak Hill Advisors were also involved in the initiative.
Orebits Corp., a provider of digitization services for unrefined commodities, and Symbiont, a distributed ledger technology company, have partnered to bring clients of Orebits Corp. the opportunity to invest in unrefined gold via “smart certificates.” The certificates, called “orebits,” are digitized assets, backed by proven gold reserves, which can be exchanged electronically on a peer-to-peer basis. The first orebits were issued on Symbiont’s platform on March 10, 2017.