Private Blockchain Development Company | IdeaSoft

DLT & Blockchain

Blockchain and DLT (Distributed Ledger Technology) solutions are the next generation's decentralized platforms. IdeaSoft is a top grade Blockchain solutions integrator for every kind of institution.

Private Blockchain

Private blockchain is also sometimes named as DLT (Distributed Ledger Technology) but it’s not 100% correct. In fact, term DLT (Distributed Ledger Technology) can be applied to all solutions that use distributed ledger as a data storing model, while Blockchain is an example of this “block-based” model. If we take a deeper look at DLT (Distributed Ledger Technology) – it's a database that shares, replicates, and synchronizes data flow (geographically) beyond multiple nodes (sites) or other instances. There is no centralized principal entity or data storage.

A consensus mechanism and related algorithms are required along with the peer-to-peer system to guarantee replication across instances or nodes is undertaken. So, in this case, private (mainly) or public blockchain solutions are only one of the ways of realization of distributed ledger design. Comparing private and public blockchain models generally is all about access and permissions, this is why private blockchains are also known as permissioned blockchains.

When we mention private/permissioned blockchain networks, first what we pay credit to is identity, because we need to know who is the participant of the private blockchain network and define a set of rules for data access for that participant to know what kind of actions they can perform to the ledger and what data could be available for them from the ledger.

Most known private blockchain platforms are:

Hyperledger Fabric (in participants with IBM) - permissioned/private distributed ledger platform and framework for building decentralized applications and solutions.

Corda - provides business tools to enable straight transaction flow in the stern privacy layer using smart contracts, decreasing transaction fees and record-keeping expenses.

IdeaSoft has experience with a lot of business-grade use-cases dealing not only with logistics but with insurance, oil distribution, machinery closed financial platforms, governmental IoT solutions. Decentralized ledger technology is valued for flexibility that enables us to build industry acknowledged large scale solutions with fast forward integration process no matter is it Cord, Hyperledger Fabric or any other.

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