Читать книгу The New Advanced Society - Группа авторов - Страница 32

Corda, being similar to blockchain, is useful for storing data among multiple participants, especially those who are having trust issues but, are in the situation where they have to share information. Corda is one such platform that has been developed using DLT, where the ownership is shared through a network of participating companies, therefore, terminating the need for third-party involvement. This platform provides unique features that complement the usage and application of Corda in a variety of industries. Some of these features are:

 Decentralization—There is no central authority or central point of administration in the network [47]. The multiple points of coordination prevent delay and a single point of failure [48].

 Immutability—The information stored here can never be changed i.e., a successful transaction can never be undone after the ledger has been updated. One can perform only create and read operations [49].

 Security—A variety of cryptographic algorithms are used to verify the information before it is stored and to prevent any possibility of fraud [50, 51].

 Auditability—Every transaction is validated and stored in the ledger with a timestamp, enabling participants to trace the previous transactions easily [52].

 Trust—Since every participant has to be verified before they enter the network, everybody’s identity is known to each other [53]. This provides a greater amount of trust among the participants.

 Consensus—Unlike other blockchains, the consensus is pluggable in Corda via uniqueness consensus and validity consensus [54].

 Disintermediation—This feature helps eliminate the third party and their associative fees, thereby increasing the efficiency and overcoming the need to trust these intermediaries in the network [55].