Distributed Ledger Technology
Distributed Ledger Fabric Model
- Permissioned system; strong identity management.
- Distinct roles of users, and validators
- Users deploy new pieces of code (chaincodes) and invoke them through deploy & invoke transactions
- Validators evaluate the effect of a transaction and reach consensus over the new version of the ledger
- Ledger = total order of transactions + hash(global state)
- Pluggable consensus protocol, currently PBFT & Sieve
What is Distributed Ledger
- Distributed Ledger (Fabric) was created by IBM. While not completely and generally permissioned, Fabric will allow Swissbloc to make the GTX blockchain permissioned which will allow who has access to the data.
- To use resources more efficiently, Fabric has fewer nodes than a public chain and computes data massively in parallel, which makes Fabric scale much better than public blockchains.
- The basic architecture supports confidential data, giving users more privacy as they find on a public blockchain.
- Like Bitcoin , the consensus network is made up of miners and nodes. In Distributed Ledger, you have "The Endorsers" who build, validate and propagate transactions and chaincode, and the "Consensus Nodes" orders the already validated transactions.
The GTX powered by Distributed Ledger technology