Distributed Ledger is a buzz word that has been around for a while. But today, many enterprises are starting to identify that this is more than a buzz word or a trend that goes beyond the financial and fin-tech circles that can deliver many benefits in many ways. Which is why we see a rising trend of businesses adopting Distributed Ledger technologies in their organisations. DLT or Distributed Ledger Technology provides a digital system that records the transaction of assets where the data are stored across several locations at the same time. It’s a database that provides a new solution for data storing without having to have a central data store or administration functionality.
The technology provides the perfect solution for struggles you experience with traditional centralised databases. DLT eliminates the need for a central authority. From validation and authentications to intermediary to process, the technology removes the need of a central authority in ledger management. With cutting edge technologies such as advanced algorithms, stronger computing power, near-ubiquitous computational power and cryptography; Distributed Ledger has become a more accessible solution for many organisations.
You can use the technology to record static data such as transactions. A Distributed Ledger has nodes that are capable of processing, validating, verifying or authenticating transactions or other types of data exchanges, thus generating a record for each item. This creates a consensus on each item’s veracity, and the data are only stored to the ledger after the parties involved reached the consensus. Here all the files are timestamped and given a unique cryptographic signature and provides a well-organised history of all information stored on that particular dataset that can be verified or audited. Mainly there are three types of DTL networks. They are public, private and consortium.
Distributed Ledger technologies have so much potential to improve efficiency, transparency and security in transactions. The technology speeds up transaction eliminating the requirement for a middleman or a central authority. It reduces transaction time to minutes while processing transactions 24/7 saving significant amount of money for businesses. This also contributes to reduced cost in transactions while increasing efficiency and automation in back office.
Data streaming is the most critical core for building the DTL network because the data centers are geographically distributed and run by the various vendors (AWS, Azure, Own Data Centers, etc.). There must be a platform to stream the data among these data centers to build a streaming network. The data can be seamlessly streamed among the applications & services hosted in various data centers.
For example, the London Stock Exchange needs the NASDAQ data, and SGX requires a calculation of NASDAQ and Bloomberg data. Here the data are generating from various sources, and they are located in a different part of the word. Cerexio can help to build an ultra-low latency streaming network to connect everyone in a single network.
The improved security is another key feature of the Distributed Ledger technology. As the technology enables each node of the network to hold the records, the system makes it more difficult to manipulate or attack. The architecture of the technology also enables higher transparency in handling records with shared information. It gives control of all the information and transactions to the users, thus witnessed across the network.
At Cerexio, we believe that DLT is a technology many industries can benefit from. From banking and finance, aerospace and defence, insurance, supply chain, law to healthcare. Cerexio has delivered premium quality Distributed Ledger solutions for organisations across diverse of industries.
Our solutions range from blockchain-based system for payment deliveries, Smart contracts for registered exchanges, Real-Time Message Queuing Systems to Integration Platforms. Ensuring a reliable and robust solution to take your business to the next level our Distributed Ledger experts will be there at each step of the way from planning, developing, implementing, testing to maintenance.
Let our experts help you find the best DLT solution for your industry and organisation with our hands-on expertise and experience. From best technologies, tools to protocols to network architectures our team will help you make the best choices throughout the process so you can enjoy a robust Distributed Ledger solution.