Accubits enterprise blockchain platforms delivers enhanced docker security with hyperledger technology
Adopt our enterprise blockchain platforms to make business life easier. Through the use of blockchain applications built on unique blockchain networks meet your business technology requirements easily. Accubits enterprise blockchain platforms has an implementation rate of over 25% for industries from banking to the healthcare. Altogether, the adaptability and innovativeness of blockchain applications are revolutionizing the entire business perspectives. The most widely used practical implementations are cryptocurrencies and digital identity management. Blockchain networks ability to handle secure business transactions is unparalleled in every industry.
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Accubits enterprise blockchain platforms is powered by hyperledger fabric blockchain technology. Our enterprise blockchain platforms allows to create unique blockchain networks without relying on the traditional servers. Many business all over the globe are delivered higher business control and productivity through Accubits enterprise blockchain platform. Our blockchain networks are designed and battle-tested to run on all multiple cloud platforms and on-premises. Hyperledger fabric offers extra security, so as a whole it uses dockers to run different roles like Peer, Database/Ledger and Orderer. Through the use of dockers in the enterprise blockchain platform, easy deployment on different infrastructures and environments are made possible. A docker acts as a virtual machine and functions quite similar to that of a holistic operating system. Thus, hyperledger fabric allow to significantly reduce the size of applications & improve system performance. Our enterprise blockchain platform delivers better portability, flexibility, environment standardization and improved version control. Our team develops innovative breakthrough application level solutions through a combination of blockchain technology, artificial intelligence, IOT and data analytic tools. The market share of the blockchain technology was $400 million in 2017, but now it currently runs over $500 million and it is expected to grow to over $25 billion by 2024. At present more than 65% of banks are experimenting on blockchain technology, over 85% of the North American and European banks are at present investing in blockchain application development solutions to make their services transparent, seamless & secure. Accubits blockchain application development operations are handled from our development offices located at India and UAE. Because of the seamless functionality & usability of our blockchain solutions in the industry, we are frequently coined as one of the best enterprise blockchain platforms used by the top fortune 500 companies. We have over 8 years of expertise in the field of blockchain development which allows us to offer solutions chiefly in custom DApps and smart contracts, crypto token and exchange development, integrated blockchain services and enterprise blockchain platforms. Accubits have successfully delivered more than 500 projects to over 200+ clients all over the globe. Our expert team of blockchain professionals had worked with over 75+ industries ranging from healthcare to the retail industry.
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ACCUBITS BLOCKCHAIN ?
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The retail industry has been a darling for blockchain technological innovations as it opens its door to the biggest avenue to significantly reach out end users directly. This whitepaper in general talks about the key technology challenges that today’s retailers face and explores the usability of application level solutions.
ENTERPRISE BLOCKCHAIN FAQ ?
Linux foundation introduced the hyper ledger fabric technology as an open source blockchain framework in December 2015. Hyperledger fabric is a type of permissioned blockchain infrastructure where permissions or rules could be implemented between the nodes in the framework. The conditions for achieving consensus between nodes, information transfer and time to perform a transaction are all determined by these permissions. Here these conditions could be setup during the development of a blockchain solution which serves as the network security for the blockchain framework. It uses a combination of mix and match situation for computational purpose.
A peer to peer node of network controls the ledger information's, transaction administrations and other customized application operations within the hyperledger fabric. Hyperledger fabric makes use of orderer nodes(central communication channel) for delivering transaction data within the peer to peer network. Membership service provider(MSP) module controls both user identity and role management functionalities. In addition, one or more MSP's governs the authenticity of each transactions within the node.
In short, integration of distributed ledger technology into enterprise blockchain platforms applications(other than SDK, Node Js, Java etc) is explicitly the prime use of hyperledger fabric.
Finally, there are a total of five other hyperledger frameworks which are :
1. Hyperledger Burrow - Burrow hyper ledger frame work focus on reducing the time delay in the consensus mechanism during the development of a permissioned smart contract.
2. Hyperledger Indy - Maintaining decentralized identity is the built-in feature of this permissioned blockchain framework.
3. Hyperledger Iroha - Easier implementation into other distributed ledger technologies is the prime functionality of this permissioned blockchain framework.
4. Hyperledger Grid - Grid hyperledger framework focuses onsupply chain based distributed ledger solutions where there is a need for shared capabilities in order to accelerate blockchain components.
6. Hyperledger Sawtooth - Sawtooth hyperledger framework focuses on the development of blockchain solutions and distributed ledger networks that focus on keeping the data secure (smart contracts).
Distributed ledger technology is a type of shared ledger or connected digital data. A peer to peer network, institutions or multiple sites forms the connection in a distributed ledger. It does not have a centralized authority or central data storage. Consensus between the nodes in the peer-to-peer network governs the data transfer. For instance, the most noted use case of distributed ledger technology are practical applications of enterprise blockchain platforms. Each distributed ledger could be either public or private. Also, a distributed ledger could be either permissioned or permission less depending on the approval given by the authorized person to run a transaction.
The most widely adopted use cases are as follows:
- Asset Tokenization - Asset tokenization is the process of converting illiquid (real-life security assets such as shares, bonds, properties etc ) assets into their tokenized form. Inadvertently, it raises the capital investments of the company. Moreover, capitals that were earlier available to various financial institutions are now accessible to retail investors through tokenization. In addition, it increases the trade in the global market place and unlocks more investment opportunities in the industry.
- Supply Chain Management - Distributed ledger technology delivers transparency for the supplied goods. The main advantage of using distributed ledger in supply chain is that multiple parties could access the shared database to add or update information. In addition,easier tracking is possible through time stamping the products. Another advantage is that it helps to stop counterfeits, burglary, reduce paperwork involved, improve regulatory compliance and lessen the costs involved.
- Land Registry Management - Blockchain land registry management system employs a distributed database where the hashes stores the data or information on property owner. It helps to authenticate the ownership of the land property. Moreover, nuisance properties( land properties without either legal documents, proper taxation, abandoned properties etc ) could be easily identified. Thereby distributed ledger technology helps to make legitimate land property deals happen with mutual trust.
- Digital Identity Management - Further through the use of distributed ledger technology, sovereign identities could be produced without the need for actual documents for verification each time. First of all, a matching key is produced. Secondly, the matching key serves as the verification tag for the record in the shared distributed ledger. The main purpose of the matching key is to store personal information, medical records, insurance details, educational qualifications and much more. This serves as a potential use case for the healthcare industry for proper patient record management.
Consensus algorithm is a systematic process to achieve an agreements between the value of the data transferred in the distributed network. It helps to attain reliability and transparency between multiple nodes in the network. Essentially, consensus algorithm is whats keeps enterprise blockchain platforms secure and decentralized. A decentralized ecosystem that doesn't have a consensus would crash in a few seconds. To put it in another way, without a consensus agreement it doesn't matter whether the users trust each other or not. Consensus algorithm always keeps the next new block in the enterprise blockchain platform, the only truth in the platform. This feature allows hacker adversaries from derailing the system. The amount of computational time required for consensus algorithm is nevertheless, 10-60 minutes on an average.
In the real world, blockchain affects everything in the financial industry form banking transactions to claim settlements. Additionally, the decentralized nature of the blockchain platform helps in better data sharing, collaboration, regulatory compliance and data governance in finance. The finance industry has spent over $600 million on blockchain solutions in 2018. Above all, a steady rise of up to 80% is seen each year in the finance industry for blockchain solutions. Markedly, many studies conducted show that the investments on blockchain solutions are expected to reach its peak by 2022.
Regardless, the core areas in finance where the the transformation is at its peak are:
- Payments - Blockchain helps to comparatively reduce transaction costs involved in bank to bank transfers, cross borders payment transfers and international money transfers. Furthermore, It even supports faster payments in all the above aspects.
- Clearance and settlements - In addition, blockchain helps to reduce the time needed to handle financial clearance and settlements in between the financial institutions.
- Fundraising - Unlike traditional capitalization, fundraising through blockchain helps in secure, reliable and faster accumulation of source capital from the potential investors.
- Securities - Blockchain helps in tokenization of real-life assets such as equity shares, bonds, properties etc. Thus helps for wider reach in the global market place.
- Loans - Unlike traditional money lending and borrowing, blockchain helps to reliably transfer the ownership of the property form one person to the other person without the need for any intermediaries between them. This helps to reduce the transaction costs involved.
Hyperledger and Ethereum are equally important enterprise blockchain platforms that have pretty much conquered the blockchain world through their practical application level blockchain solutions. Hyperledger has a total of 320 business organization as its members from Airbus to VMware. Till day, hyperledger has more than 30 projects that has more than 4 million lines of code. On the other hand, Ethereum is the blockchain token with the 8th highest token value with a total value of $20 million USD during 2017.
Ethereum smart contracting feature makes a generic fit for almost all kinds of applications. Even though, Ethereum platform has permission-less mode that offers complete transparency, the scalability and privacy are not good as Hyperledger. On the contrary the permissioned mode of hyperledger is a perfect for security and privacy. It overall provides a completely fine tuned access control too.
Hyperledger is a multi-project open source blockchain development platform created by the Linux foundation aimed at developing cross-industry distributed ledgers.
Hyperledger benefits includes:
- Easy integration of consensus algorithm with that of membership service providers (MSP's)
- Offers a better platform for smart contracts through container technology
- Secure and confidential transactions
- Make use of order nodes to deliver transactions to a ledger
- Uses a separate database server for database services (CouchDB)
- Helps to build reliable and secure permissioned blockchain
- Improved application performance and scalability
Ethereum is an open source blockchain development platform for creation of decentralized applications. It specifically uses tokens to create and run smart contracts (contract formats created in code). Provided that, it has its own built-in crypto currency called ether.
Additionally, Ethereum benefits include:
- Immutability nature of the nodes
- Corruption free & tamper proof
- Secure and reliable
- Zero down time of the database server
It must be remembered that sooner or later almost 65% of the financial sector banks are going to adopt hyperledger fabric enterprise blockchain platforms into their business for inter-bank payment settlements. As a starting step, the royal bank of Canada has already begun using hyperledger fabric technology for US-Canada inter-bank settlements.
The practical application of enterprise blockchain platforms are increasing each day to meet business enterprise technology requirements. The net worth of enterprise blockchain platforms obviously would reach $4.1 Trillion by 2025 as per latest researches conducted. On the positive side, transparency and decentralization are the key benefits of public blockchain platforms. But on the negative side, it lacks the central authority or administration that is needed in a private blockchain ecosystem. Enterprise blockchain platforms reduces the cost of the mining process altogether involved in the consensus algorithm calculation. Here the use of simpler block models significantly reduces the cost of the infrastructure, operations and reduces the application deployment time.
The increasing demand for enterprise blockchain platforms are in fact due to:
- Firstly, less administration cost & faster transactions processing
- Secondly, controlled transparency
- Thirdly, reduced errors and chances of fraud
- Fourthly, excess charges elimination
- Fifthly, secure cross-company transactions
- Lastly, reduced redundancy in the business
To sum up to know about implementing blockchain into your business read it, Implementation of blockchain into business
Accordingly at the same time to know about the capabilities & functionalities of Accubits Blockchain Platform in order to improve supply chain management read our whitepaper, Blockchain for efficient supply chain system
In detail get a clear idea on Accubits expertise on blockchain solutions by visit our page, Blockchain solutions
To get a clear idea on how to jump start your business operations using blockchain visit our page, Digital transformation using blockchain solutions