Substrate enables developers to quickly and easily build future-proof blockchains optimized for any use case. It's a framework designed to take the complexity out of building blockchains.
As Ethereum’s co-founder and first CTO, Gavin Wood developed the Ethereum network and created the smart-contract language, Solidity, while groundbreaking at the time, it soon became apparent that Ethereum’s “all-purpose” nature imposed hard constraints on developers—from high gas fees to a lack of core upgradeability. Blockchain frameworks that try to do everything on a single chain are fundamentally constrained by generalist design choices and force developers to hack clunky workarounds rather than build specialized solutions.
In order to push the boundaries of blockchain technology, Gavin left the Ethereum Foundation and started Parity, which implemented the fastest Ethereum client at the time. In the early days of Parity, the team also built a Bitcoin and ZCash client before moving on to spearhead Polkadot. It’s only from all this deep industry experience that blockchains could be reimagined from the ground up. This led to the creation of Substrate, an open-source and future-proof framework that powers a multichain, interoperable, and decentralized internet.
As described above, Substrate is a framework dedicated to taking the complexity out of building blockchains. You can launch a basic blockchain with Substrate in 15 minutes. This includes the ability for account management, balances, transfers, validations, etc. Of course, getting a blockchain to production is a bit more involved, but the biggest advantage of utilizing Substrate is the resource and effort savings. We don't have to spend time creating basic blockchain functionality. This frees up our time to build our unique use cases for Ferrum Network.