Substrate For Blockchain Development Announced

Parity Technologies has announced the beta release of Substrate, which is an open source technology stack developed to make it easy to create a blockchain customized for a particular application.
According to the company, Substrate is a blockchain platform with a completely generic state transition function and it has both standards and conventions regarding underlying data structures especially on Runtime Module Library.
Substrate for Blockchain Development announced Source: Stratis
The solution has a 100% abstract “execute block” function encoded in WebAssembly - the company claims, meaning that it can be targeted from any one of a number of languages, including C++ and Rust. Moreover, the execute block function is hot-swappable, so that you can upgrade your chain’s logic without a hard fork.
I really hope that by pushing out Substrate, we can create a whole new class of sort of development teams and development applications that sit right in the sweet spot between the two where you don't have to know everything, you don't have to do everything to develop your whole new blockchain, but you can do just enough that you do have a domain-specific chain, that has its own parameterization, and its own features that allow you to get a particular job done, and done well, that wouldn't have been possible before because smart contracts are too bloaty, and writing your own chain is too much work.” wrote Parity CWO and founder - Dr. Gavin Wood.
To know more, you can visit the official announcement here.