What is Distributed distributed books

Distributed database is a type of books, may be shared among members of the decentralized network, replication and synchronization. Distributed books record transactions between network participants, such as asset or data exchange.

Participants network of distributed books to update recorded in the management and consensus. It does not involve the central institution or a third party mediator, such as financial institutions or clearing house. Each record has distributed books in a timestamp and unique cryptographic signature, so that all the books in a distributed transaction can be reviewed, and can not be tampered with.

The role of distributed books in the real business of

In today's interconnected world, economic activity takes place across geographical and national jurisdiction of the commercial network. Business networks are often gathered together in the market, in these markets, participants (such as producers, consumers, suppliers, partners, market maker / enablers and other stakeholders) owned, controlled exercise its the rights of the value (called assets) object.

Assets can be tangible and tangible, such as a car, house, or strawberries, or intangible and virtual, such as contracts, patents and stock certificates. And transfer of ownership of assets that create value in the business transaction networks.

Trading usually involves various actors such as buyers, sellers and intermediaries (such as banks, auditors or notaries), its business agreements and contracts recorded in the books distributed in. Businesses often use multiple accounts have been distributed to track the transfer of assets between asset ownership and participants in its various business sectors. Books are distributed recording system of economic activities and interests of enterprises.

A typical books distributed as follows:

Distributed books in the current business problem

Business distributed books in use today in many ways inadequate. They inefficient, costly, and prone to abuse and tampering. Lack of transparency and sensitivity to corruption and fraud, leading to a dispute. These risks and uncertainties would result in loss of business opportunities.

In addition, each network participant on their systems are not synchronized distributed copies of business books can lead to making the wrong business decisions on temporary erroneous data. Or when different copies of the books were checked, the ability to make a fully informed decision be delayed.

What is the block chain

Block chain is a tamper-resistant distributed shared digital books, you can record transactions public or private peer to peer network. Books distributed to all members of the distributed nodes in the network, the order of the block cryptographic hash chain links, a permanent record of the history of the assets in the network between peer exchange.

All confirmed and validated trading blocks are linked from the beginning to the latest chain of blocks, so named for the block chain. Therefore, the block chain acts as a single source of truth, and the block chain network members can only view those transactions related thereto.

How to block chain networking

Members of the block chain node in the network does not rely on third parties (such as financial institutions) to mediate the transaction, but the use of a consensus agreement to agree the content of the books, encryption, hashing, and digital signatures to ensure the integrity of transactions.

Distributed shared consensus to ensure that the books are accurate copies, and reduces the risk of fraudulent transactions, because tampering must be in many places at exactly the same time. Such as computing SHA256 cryptographic hash algorithm like to ensure that any changes to the transaction input (even the smallest changes) will result in a different hash value is calculated, which indicates a potential transaction input compromised. Digital signature ensures that the transaction from the sender (using the private key signature), rather than an imposter.

Decentralized peer to peer network prevents any single block chain participant or group of participants based infrastructure control or destroy the entire system. Network participants are equal, follow the same protocol. They can be individuals, state actors, organizations, or a combination of all of these types of players.

Using the selected At its core, the system records the consensus model that all nodes agree to the validity of the transaction by chronological order. The results can not be changed or undone transaction, unless all members of the network in a subsequent transaction agree to change.

Block chain of commercial interests

In the old business network, all participants keep their books distributed, duplication and differences can lead to disputes, increased settlement time and the need for intermediaries and their associated indirect costs. However, by using a distributed shared books based block chain, once the transaction is verified by consensus and distributed the books written can not be changed, companies can save time and costs, while reducing risk.

Benefits block chain consensus mechanism that can reduce errors, provide near real-time reference data, providing a unified consistent set of data for participants, and provides the flexibility to change their assets described for participants.

Since none of the participating members have a shared source of information contained in the books, so the block chain technology can increase the participation and trust in the integrity of the transaction flow of information between members.

Invariance mechanism block chain technology can reduce audit and compliance costs, and increase transparency. Also, since the contract block chain technology executed on the business network is automated and the final, so companies can improve the speed of execution, lower cost and lower risk benefit, all of which enable companies to build new revenue flow and customer interaction.

Use the block chain

Block chain as a technical support Bitcoin transaction was first introduced to the market, but its practical application in the business world far beyond the encrypted currency trading. For example, in the financial sector, the block chain networks allow securities trading settlement in minutes rather than within a few days. In the supply chain, block chain network allows real-time tracking and recording of goods and payment flows.

To determine whether your use cases for block chain, ask yourself the following questions:

Whether relating to the business network?
Whether to use consensus to verify the transaction?
Whether or provenance audit trail?
Whether the transaction must be immutable or tamper-resistant?
Dispute resolution should be the ultimate do?

If you answered yes to the first question and at least one problem is that you use cases will benefit from the block chain technology. Always require networks to be involved to make the block chain to be the right solution, but the network can take many forms. Network may be between tissues, such as supply chain, may be within the organization. For example, within an organization, you can use reference data block chain network share or create an audit or compliance network between the various departments. The network may also exist between individuals, for example, they may need to store data on a block chain, digital asset or contract.

What is super books

Hyperledger is an open-source work, to promote cross-industry block chain technology for enterprise use. This is a global partnership hosted by the LinuxFoundation®, including leaders in finance, banking, networking, supply chain, manufacturing and technology. This 183 different members and nine ongoing projects (including Hyperledger Fabric) work together to create an open, standards-based enterprise distributed books distributed framework and code libraries.

Hyperledger Fabric framework to support distributed books distributed solutions on the licensed network among members know each other, for a wide range of industries. Its modular architecture to maximize the confidentiality of the block chain solutions, elasticity and flexibility.

Block chain business requirements

We believe that the block chain is a truly disruptive technology can change business network. We also believe that innovation must be open to the public technology companies and other industry cooperation.

Industrial block chain technique has the following characteristics:

Shared, distributed books is allowed only additional system of record (SOR) and a single source of truth. For members of the authenticated business network channels, it is visible.
Consensus agreement of all participating members of business networks have agreed to use only network to ensure verification of distributed transaction to update the books.
Cryptography can ensure tamper-proof security, integrity and authentication of the transaction.
Chaincode (also called smart contract) encapsulates the terms that occur on the network traffic Participant Agreement. The verification of the code stored in a block chain like the chain nodes.

In addition to these properties, block chain technology companies also need to meet key industry requirements, such as performance, authenticated transactions as well as private and confidential. Hyperledger Fabric is designed to meet these needs. It is also designed with a consensus model can be inserted, so that enterprises can choose the best algorithms for their network.

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