Tech start-up Haidrun has announced its arrival in the fast-growing blockchain market with the launch of its new Haidrun private blockchain platform. With early generations of blockchain offering robustness and trust, but at the expense of confidentiality, performance and cost, Haidrun’s new technology is designed to bridge this gap and specifically address the needs of enterprise customers.
The Haidrun platform is a non-open source, flexible and scalable private blockchain, built on an advanced architecture that uses AI engines to deliver new levels of performance and capability. For markets such as telecoms, health, insurance and supply chain, which have not been quick to embrace public blockchain solutions, Haidrun will help accelerate intelligent business automation and create new revenue streams with secure and transparent transactions.
Haidrun removes much of the complexity of public blockchains and ensures enterprise scalability with three core features: container technology, dynamic block sizing and a new advanced blockchain protocol, Larad, which uses a fast and efficient voting-based, consensus algorithm. Working together with the integrated AI engines, these features deliver the next generation of smart contracts and with standard REST APIs, easily integrate and interoperate with other enterprise systems, databases and blockchains.
“Private blockchains are more suitable for enterprises for reasons of scale accountability and cost,” said Haidrun CEO and founder Jonas Lundqvist. “They can be run and operated as Blockchain-as-a Service (BaaS) or by the enterprise itself and are usually set up for reasons of privacy, where a business does not want to allow every participant full access to its entire blockchain contents.”
As a private blockchain, Haidrun also supports full accountability for external audits, for example. This is not possible using public platforms where there is no entity in charge and anyone can download the software, form a node, view the ledger and interact with the blockchain. Private networks also retain control, eliminate illicit activities, provide a high degree of regulation and avoid variable costs and performance fluctuations associated with public platforms.
“Our fundamental value proposition with the Haidrun platform is to unlock the real business benefits of blockchain to provide the fast, secure, scalable and cost-effective solutions that digital commerce demands,” says Lundqvist. “Blockchain technology stands to boost the global economy by $1.7 trillion in the next decade according to a report published last year by PwC and we believe that enterprise blockchain deployments will deliver much of these gains.”