Review on Corda by Bünyamin Sevinç
Corda
Today I will talk about another platform, Corda. Actually I'm not sure what kind of platform it is. However, I can say that it is a decentralized database platform for sure.
In other words, I can say that it is a platform designed and built from scratch for the recording and automation of legal agreements between distinguishable parties.
They do not use distributed ledger technology (DLT).
Instead, the consortium chose to develop what is known as the "shared ledger" platform.
Blochain technology says that consensus on information must be reached at the notebook level. This means that all transaction data in this ledger must be published to all other participants in the ledger, and all participants must agree on all facts. For me this raises privacy and scalability issues in banking and financing.
Corda, on the other hand, takes a different approach. Information about the transactions is shared only with these parties of the transaction. For my part, this is a more suitable model for financial services where the confidentiality of transaction data is very important.
All transactions in Corda are managed by one or more smart contracts.
Also, their coding languages are Java based Kotlin. So it is highly Java oriented.
As a result, I can say that Corda is different from other systems. Because they use industry standard languages and tools. In addition, I can say that it was designed from scratch to work with existing systems and not require wholesale changes to the existing infrastructure.
Thank you to everyone who reads and those who do not.
Pros
- Decentralized database
- DLT is not used.
- A suitable model for transaction data privacy
- All transactions are managed by one or more smart contracts.
- Java oriented.
Cons
- Not for now
New products
Comments (1)
December 03, 2020
It was an explanatory and informative article. But even though I read the article, I still couldn't decide which platform Corda is. Maybe they'll remove the signs of sou in our heads by doing better work soon.
