We are pleased to announce the release of Chain Open Standard 1 (Chain OS 1)!
Chain OS 1 is an open source blockchain standard that we have been developing iteratively with our financial partners for over 18 months. It is a protocol for launching secure blockchain networks that enable programmatic movement of assets. It is built to meet the requirements of high-scale financial applications in regulated markets. For this reason, we have focused intently on scalability, privacy, security, and compliance in Chain OS 1.
Chain’s enterprise node, Chain Core, and prototyping environment, Chain Sandbox, are both running Chain OS 1 today.
Our approach to designing the Chain Open Standard is unique in our industry but simple in practice: we put our partners’ requirements at the center of a deep, iterative, prototype-driven process. We set goals together, we build real software together, and we learn together. We repeat this process across use cases in capital markets, banking, and payments. We launch pilot networks and discover the challenges, opportunities, trade-offs, and breakthroughs required to piece everything together into a coherent standard.
In other words, we start with problems, not features. And when we discover the features we need, we make sure they reinforce each other and work together.
Today, we’re thrilled to be opening up this process to the wider financial, technology, and academic communities. Blockchains are networks and interoperability is critical. That is why Chain OS will always be open source, and why we will continue to collaborate across industry efforts.
We have been fortunate to work with incredible partners during the initial R&D phase for Chain OS 1 over the last 18 months, including Capital One, Citigroup, Fidelity, First Data, Fiserv, MUFG, Nasdaq, State Street, Visa, and many others. We will continue to work with these market leading firms to launch blockchain networks that transform markets.
As the name implies, Chain OS 1 is just the start. Stay tuned for much more.
