What is Corda?

What is Corda?

Corda is a distributed open source ledger technology, it is developed by r3. The Corda is open source blockchain platform, it removes costly friction in business with the help of enabling institutions to transact directly using smart contracts. It has many different features and components Nodes The Corda is that entities operate a Node it is joined to a semi-private network. There are different types of Nodes which include Oracles and Notaries, but more on those later. Basically, the node generates contracts, provide ledger functionality and manage various data to the entity. Here, Corda nodes use the JVM - Java Virtual Machine to execute contract and AMQP for the messaging protocol used during inter-Node communication. Vault Node setup part is known as the Vault. It is a queryable database and it contains details about the state of Nodes to manage much of the functionality of the Node. Ostensibly the Vault plays a similar role as the Nodes own proprietary Ledger as it is comprised of the CorDapps where the Node is a participant. Like public blockchains which rely on a shared ledger covers all data, here, Corda's focus on privacy dictates only important information which required also there is no single central store of data. The main advantage of Vault is that is can be implemented using various industry standard DB technology meaning it is easy to deploy and maintain infrastructure teams. Network Corda provides a network which is semi-private. The Doorman service enforces various rules which are adhered in order to join. Such as it might be that they have to deliver certain data, a special code or such other data which the network want in order to participate. Depends on submitting a valid join request the Node is handed back a signed TLS certificate. It is used to provide a public identity, to secure communications with other Nodes and for some other functions like generating private identities. To know more about the Corda or to solve any doubt about blockchain technology contact Minddeft- blockchain solution provider. For more, you can contact our consultant team on,minddeft.com