In recent years, you have noticed that the blockchain is the hottest topic ever since it came into existence. The urge to find a functional blockchain solution that can scale to enterprise requirements is at a high peak!
Blockchain
technology has become an essential part of enterprise software industries that
want to streamline business processes and digital assets.
Not all
organizations need blockchain solutions, but for the companies that strive to
experience huge transformation, the tech becomes mandatory.
Now
let's get to know about the five towers of an enterprise blockchain solution.
Permissioned blockchain
- Blockchain
can be built and accessed in different ways. There is a certain blockchain
network that needs special permission to read, write and access
information on them. These are referred to as permissioned blockchain.
- The
configuration of such blockchain controls the participant transaction and
defines each role so that every participant can access and subscribe to
the blockchain. Simply said, the permissioned blockchain maintains the
identity of each blockchain participant on the network.
Decentralized
- A
blockchain is a distributed ledger that is shared by multiple parties who
can add transactions to the ledger. Blockchain is well known for its
decentralized network.
- Decentralization
renders you cost-saving, empowerment of participants, and there is no need
to trust any third party to act in their best interest.
Immutability and Data integrity
- When
it comes to blockchain, the records are immutable and are guaranteed to be
cryptographically secure. In simple terms, if there any data addition or
transaction is made, then it cannot be edited or deleted in the blockchain
ledger.
- The
timestamping mechanism of the data is an added advantage. Hence the proof
of the history of a record is quickly reported and updated in
seconds.
Scalability
- As
the number of transactions grows, so the ability to make trillions of
transactions and records to be secured also grows without compromising
networks.
- The
main focus on including more transactions in a blockchain is thereby
increasing sustainability and scalability.
Security
- Blockchain
is secured through a variety of techniques, including cryptographic
mechanisms, models of behaviors, and decision-making.
- The
hash algorithm is also one that plays a major role in ensuring blockchain
security and immutability as well.
Closing thoughts
Summing
up by saying these five mainstays will not only allow for the rapid development
of blockchain in enterprise solutions, but it will also increase
interoperability and pave the way for entrepreneurs. The wiser way would be
relying on any enterprise blockchain development company to build an
appropriate layer of design for a blockchain network.
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