Parity updates Substrate to make it easier for you to create a custom blockchain

Parity Technologies has released the second version of its Substrate 2.0 kit to build a custom blockchain, says an official post released on the company's official page. The new version offers developers additional tools to customize a blockchain "exactly for your application or business logic," the post reads.

Parity Tech

Parity Technologies is the developer of the Polkadot blockchain with ambitions for the development of a Web 3.0, supported by a meshing of various blockchains. At the heart of this multi-blockchain vision is Substrate.

It acts as a toolkit for developers building their own blockchains with Polkadot, also built on Substrate, which works below as a communication and economic layer between Substrate-based blockchains.

For example, Parity Tech Kusama's “canary” network and Polymesh security token platform are two Substrate blockchains. Both chains should be able to communicate with each other if everything goes the way Parity Tech co-founder Gavin Wood predicts.

Substrates 2.0

The new version adds some core functionality as Polkadot continues to implement new developments after its debut in May, said Peter Mauric, head of public affairs at Parity Technologies.

More importantly, the code includes 70 composable “modules” for blockchain architects to connect and reproduce various design ideas. Parity developers call these modules “pallets”.

The existence of pallets serves to quickly and easily build and deploy a blockchain runtime with the proper properties for any request. For example, there are pallets for managing an on-chain developer treasury or to allow communication on a Substrate-based blockchain between smart contracts and the Ethereum Virtual Machine (EVM), or to allow on-chain voting mechanisms for swift and transparent governance by stakeholders.

Substrate 2.0 also includes modules for taking data off-chain to the blockchain through what are known as “off-chain workers”. These lighten the load of intensive processes and huge data sets from specialized nodes on the network and communicate with the main chain to ensure that all network participants are automatically updated.

Off-chain workers addressing what is generally referred to as the "oracle problem", meaning they help bring real-world data, such as prices or temperatures, onto a blockchain and are "ideal for Internet-of-Things devices (IoT) or as real world data input via oracles, ”the post states.

“Substrate 2.0 makes it easier than ever to create custom, scalable blockchains that are interoperable with the Polkadot ecosystem, all containing the business logic needed to achieve your team's design goals,” the post continues.