Blockchain is revolutionizing the way organizations are conducting transactions.
What is a Distributed Ledger?
Distributed Ledger is a kind of database that can be replicated, shared and synchronized among the network members. The ledger records the exchanges among the network participants. These participants thereby govern and agree to the records. No mediator third-party is involved in between. Every record has a timestamp with an auditable history of all each and every transaction in the network.
Functionalities of Business Ledgers
In today’s integrated world, economic activity makes a place in business networks that obey jurisdictional boundaries. Business networks unite together where every participant exercise their rights on assets, the object values. Business uses multiple ledgers to ack assets and ownership among the participants.
What is Hyper Ledger?
Hyperledger is an open-source global collaborative with advance blockchain technologies. Hyperledger Fabric and Hyperledger composer open, standardized distributed ledger framework. Hyperledger fabric carries modular architecture that enables flexible and scalable blockchain solutions for the business.
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Hyperledger Composer is a free, open-source tool for prototyping, defining and testing a blockchain network and designing applications for it.
Existing Business Ledgers lack in:
Present Business Ledgers are inefficient in many ways. There centralized and trust-based systems lead to slowdowns of transactions. Disputes must be resolved and transactions are a bit on the costly side. These risks lead to missed business decisions.
Ledgers on each network participant’s systems lead to definite business decisions.