StepStone Announces Release of Framework to for Developing and Deploying Brand New Blockchain

  LOS ANGELES, CA - 03/30/2018 (PRESS RELEASE JET)

Blockchain is changing the world. However, the blockchain technology is not perfect and requires further development. There is currently no standard framework for designing and developing a new blockchain, yet StepStone has managed to provide an innovative agent-based framework for quick prototyping, developing, testing and deploying new blockchain technologies. StepStone framework could also be used to develop Blockchain Applications, which contain blockchains and multiple additional layers. As an example, the lightning network is built above Bitcoin blockchain in order to solve the performance problem. Bitcoin and lightning network together can be viewed as a blockchain-based P2P payment application.

In essence, blockchain is a decentralized registry (not kept in one place, many users have a copy) that stores certain information which cannot be changed later. It is a kind of digital register in which any information entered is encrypted in mathematical formulas and where each mathematical formula authenticates and validates another mathematical formula containing other encrypted data in turn. This decentralized data base contains detailed information of all transactions involving value and which are encrypted on the blockchain, with the permission to verify their authenticity at any time.

The blockchain consists of a network of so-called computation "nodes". The node (a computer connected to the blockchain network and using an internet client to resolve transaction validation and retransmission tasks) receives a copy of the blockchain, which automatically updates when the network is logged on.

It is said that nodes are mining bitcoins, but in fact, nodes compete to solve computational problems to make bitcoins. Bitcoin was the reason why the blockchain was originally created. But it is currently only recognized as the first of many applications that this technology can have.

Each block contains information (data), hash, and the previous block hash. What kind of information contains a block depends on what kind of blockchain it is. In case of bitcoin, the data refers to transactions (sender, recipient and bit number). Hash is like a kind of fingerprint (each is unique) and has the role of identifying a block and its content. Once a block appears in the chain, its hash is calculated. As the first transaction takes place inside the block, the hash also changes.

The system of blockchain is based on consensus. For a block to be added to the chain, all validators must agree that that is a good block. For this reason, it is not perfect.

There are various benefits for developers using StepStone:

-Saving time. Currently, developing a new blockchain solution may require several years. StepStone aims to shorten the period to a couple of months.

-Minimizing effort. The framework created by StepStone handles all underlying P2P network complexities, hence why developers can focus on the business logic and release.

-Easy upgrade. The modular design of the framework allows for easy upgrades, whenever new features are released.

About StepStone

StepStone is a privately-owned company, which provides the necessary tools for independent developers and companies who wish to create their own blockchain model. It provides a modular interface along with extra framework instructions. More details can be found on http://www.StepStone.io.