Ethereum, Parity Co-Founder Announces Blockchain Framework For A ‘Multi-Chain World’

Recently, at the Web3 Summit in Berlin, Gavin Wood, founder of Parity Technologies and co-founder of Ethereum demonstrated the launching of a blockchain in under 60 minutes, a previously unheard-of feat. The blockchain framework - “Substrate,” that was demonstrated is a framework for building and launching blockchains.
Parity is a U.K. based blockchain infrastructure provider and is known for developing one of the most popular clients for Ethereum. According to a TechCrunch report, Wood launched the blockchain demo on a new Mac laptop in 15 minutes, demonstrating how little time and set-up it would take for the entire process of the platform launch.
The Substrate 1.0-beta is scheduled to be released in November and according to Wood, it will be “the biggest bet against blockchain maximalism.” While speaking of the blockchain sector, Wood noted that it had become too “nationalistic” with one type of blockchain beating another: “Maximalism creates barriers to entry and reduces the fun for technologists,”.
The substrate is the foundation for Polkadot which is a “para chain” that links different types of blockchains and is scheduled to be released by the end of 2019. Parity also clarified that though Polkadot and Substrate share a similar goal of starting a new wave of innovation, still they are two distinct technologies.
All of the lessons we learned developing Ethereum and Polkadot have been distilled down into a single stack of tooling that allows you to get all these advantages, in terms of time, cost and money. How well this works is going to be dependent on us,” he added. “But it’s my hope that when we put out Substrate 1.0 this will be a turning point that makes the promise of a multi-chain world a captivating one… I hope this creates a new class of developers that sits in the sweet spot [between low and high skilled developers], where you can do just enough that allows you to get a job done and well without having to create your own blockchain,
The substrate is aimed to be relicensed to Apache 2. It will “instantly open the door to all of the Fortune 500 to actually experiment with it.” Wood also demonstrated a new Polkadot design that, according to him, allows “infinite scalability.”