Blockchain on Aynet
Capabilities
Capabilities of ledgers with centralized ownership
Centralized
Central, trusted authority owns and manages the ledger, and is shared with any number of parties that are working together
Immutable
Uses an append-only journal that stores every transaction into a block. Blocks are cryptographically-chained together in a sequence and cannot be deleted or modified by the central owner or any other entities.
Verifiable
Uses cryptography to create a concise summary of change history. This secure summary, commonly known as a digest, can be used to cryptographically verify the lineage of the data in the ledger.
Transparent
Entire data history can be easily queried, providing a complete and transparent log of information.
Fast
Ledgers with centralized trust don’t require distributed consensus to execute, allowing them to easily scale up and execute transactions faster than ledgers in common blockchain frameworks.
Capabilities of blockchain networks with decentralized ownership
Decentralized
Multiple parties can transact with one another without having to know or trust each other. Each party, known as a member, owns a peer node in the network
Immutable
Committed transactions are stored in blocks and are cryptographically-chained together and cannot be modified. Once a transaction is committed, it is replicated across all members making it impossible to change or delete.
Verifiable
Each member stores a local copy of the ledger and can independently verify and ensure that the contents of the ledger are accurate. To make any change, members of the network need to validate a new transaction, keeping data across all peer organizations consistent
Transparent
All committed transactions are attributable to one or more entities, providing complete transparency to all members. In permissioned blockchain frameworks, such as Hyperledger Fabric, transparency can be configurable such that only select group of peers can access information.
Removes intermediaries
Each peer organization can initiate a new transaction using encoded application logic. Once a transaction is initiated, it is replicated across all peers in the network, allowing multiple parties to access and validate the information. No intermediaries are needed to act as a liaison between the members, making complex transactions more efficient and less expensive.