Traditional centralized databases have been employed for many years by entities, from governments to global institutions, to store data and record transactions of any kind. These are carefully guarded, and enclosed systems in which only authorized operators can make entries and govern the accuracy of data being stored. When a customer transfers money from one bank account to another, they request the bank to do so on their behalf rather than engaging directly with the database that holds information about balances. Centralization is inherent in the existing paradigm.
At its simplest, a digital ledger is stored on a network of computers around the world. Instead of securing information by restricting access, a digital ledger shares data amongst all users that adhere to the protocol. For example, ownership of funds is cryptographically verified. The complete transparency and mutual ownership of the system means that a bad actor is immediately recognizable as such, and any transactions submitted by such a malicious actor is ignored.
A distributed ledger is essentially a database that is widely distributed on a peer-to-peer network (P2P). A P2P network architecture consists of computers that participate in an open network and are peers. The term peers is used since every participant is equal; there is no preferential treatment within nodes, and all nodes share the burden of providing network services. There is no centralized service nor hierarchy within the network. Nodes in a P2P network both provide and consume services simultaneously, with reciprocity acting as the incentive for participation. P2P networks are inherently resilient, decentralized, and accessible to anyone, a true reflection and foundation of the core characteristics of blockchain.
In highly regulated industries, operating a private solution can help provide the assurances governing bodies require.
Where sensitive personal data is involved, some customers are uncomfortable with transactions posted to a public blockchain.
Where participants are willing to fund operations directly, Stratis DLT solutions can be designed that do not use cryptocurrency to facilitate transaction validation.
A private solution enables pragmatic decisions to increase transaction rates between parties where a level of trust and common purpose already exists.
Blockchain architectures were initially designed to mediate transactions between parties with no reason to trust each other. Business is different: you interact with colleagues, partners and customers with whom you do have a level of trust.
Stratis DLT is a private blockchain solution for the enterprise, conceived to provide the programmability, security and scalability needed for enterprise deployment: smart contracts to execute business logic, privacy & permissioned for collaboration around a shared purpose, and an architecture that scales.
Improved predictability & accountability in relation to transactions.
Improved predictability & accountability in relation to transactions.
The benefits of automating business logic through Smart Contracts.
A C#/.NET solution easy to manage & operate for enterprise IT teams.
Our team of blockchain developers has a strong track-record across a wide range of enterprise sectors including banking, pharmaceuticals, logistics, telecommunications, and media.
Dont be shy, Just tell us about yourself and we’ll figure out the best option for you and your project.
