QBFT (Quorum Byzantine Fault Tolerance) is the latest consensus algorithm now available in Hyperledger Besu on the SettleMint platform. This proof-of-authority consensus mechanism is designed to provide enhanced security, scalability, and performance for enterprise blockchain networks. QBFT ensures that all participating nodes in the network agree on the state of the blockchain, even in the presence of potentially malicious actors or network failures. By utilizing a leader-based system with rotating block proposers, QBFT maintains network integrity while allowing for efficient transaction processing.

Compared to its predecessor, IBFTv2, QBFT offers several significant improvements. First and foremost, QBFT provides immediate transaction finality, meaning that once a block is added to the chain, it's considered final and cannot be reversed. This feature is particularly crucial for financial applications where transaction certainty is paramount. Additionally, QBFT boasts enhanced performance metrics, with faster block times and higher transaction throughput. The algorithm also incorporates improved security measures, including protection against certain types of attacks that could potentially compromise IBFTv2 networks. These enhancements make QBFT a more robust and efficient choice for enterprise-grade blockchain deployments.

We're excited to announce that QBFT is now the default consensus algorithm for all new Hyperledger Besu networks deployed on the SettleMint platform. This means that users can immediately take advantage of QBFT's benefits when launching their blockchain projects.

Every application and organization/workspace now has full access to the audit log. This will help you ensure maximum compliance in enterprise environments.

The Smart Contract Portal is a middleware which creates an easy to use api on top of your smart contracts. It can be used with all EVM-compatible chains like Ethereum, Hyperledger Besu, Polygon, Binance Smart Chain, Avalanche, etc. You can run it on your own blockchain nodes (both public and permissioned) or on a Load Balancer.

Benefits of using the smart contract portal:

1. Simplified Integration: APIs allow developers to interact with complex smart contract functions through familiar interfaces, reducing the need to understand blockchain-specific languages and protocols.

2. Data Aggregation: APIs can consolidate data from multiple smart contracts, providing a unified view.

3. Improved Performance: GraphQL optimizes data fetching, ensuring that clients retrieve only the necessary data in a single request, reducing network load and improving performance.

4. Stack agnostic: Teams are free to choose their own technology stack.

More information on https://console.settlemint.com/documentation/docs/using-platform/middleware/#the-smart-contract-portal-middleware

Getting started with the self-managed platform might seem daunting, but in practice it is not that complex. To showcase this we have open-sourced a complete guide and Terraform module to do so on GCP. From 0 to hero in about 30 minutes!

Get started today on https://github.com/settlemint/tutorial-btp-on-gcp

Hedera is a public distributed ledger technology (DLT) network that was launched in August 2018 by Hedera Hashgraph, LLC. It uses the Hashgraph consensus algorithm, which is a unique and novel approach to achieving consensus in a distributed network.

Hedera’s native cryptocurrency is called HBAR, and it is used to power the network’s services, including smart contracts, file storage, and regular transactions.

Hedera focuses on providing high throughput, low latency, and fair transaction ordering, making it suitable for enterprise-grade applications. Unlike blockchain-based systems, Hedera’s Hashgraph algorithm ensures fast, fair, and secure transactions without compromising decentralization. We support, the Hedera Mainnet and the Hedera Testnet.

Read more on https://console.settlemint.com/documentation/docs/blockchain-guides/Hedera/hedera-the-basics/

The platform now includes a complete observability suite. It powers the resource metrics and logs in the platform UI, and includes a Grafana instance for operation personel to track any metric they wish to follow.

The beloved and widely used Mumbai testnet for Polygon PoS uses Ethereum’s Goerli testnet as its root chain. This means Mumbai counts on Goerli for block production. 

But Goerli is currently scheduled for deprecation, by the end of Q1 2024.

The Amoy testnet for Polygon PoS is the replacement and has been launched, a new testnet that provides a low-stakes environment to build, test, and break things. 

Amoy will use Ethereum’s Sepolia testnet as the root (L1) chain. Developers deploying on Amoy can continue to count on the availability of essential validators, infra, faucets, tooling, and more, in a sustainable and future-proof environment.

Now available in the SettleMint platform.

Note: Any Mumbai nodes will cease to function in the near future, please migrate your applications as soon as possible.

The managed platform has been upgraded to the same codebase as the earlier Self-Managed release, providing a secure and more importantly, low barrier entry to transofring your organisation with Blockchain

Fully modular overhaul of the self managed platform to enable maximum flexibility in its deployment and feature parity with the Managed Platform

• New and improved Helm chart to deploy the platform on your own infrastructure

• Fully customisable and configurable via the Helm values

• Complete feature parity, from services to service deployment with the Managed platform (same codebase and helm chart)

• Dramatically improved performance in restrictive environments

• Open-Source Smart Contract sets and the ability to build custom sets from these templates and add them as default options in the platform

Get in touch with your SettleMint contact to upgrade or start a trial