Custom Consensus Design
Isn’t there enough of ready-to-use solutions?
Blockchain technology continuing to drive the innovation in FinTech, Financial Services and other important industries. And one of the hottest issues in Financial Services is the processes: unique, custom business logic behind a product, as powerful and often the only way to win the race.
How to rewire the product with promising technology and stay consistent with its initial or newly invented unique selling proposition? Can this solution be deployed in compliance with our local regulatory acts? Does blockchain allow to implement it at all? These and many other questions creates uncertainty, making the solution deemed to be complex and preventing the adoption of blockchain. The thing is, if you want to push the limits of a technology - ask an expert.
As any technology, blockchain has both implied ability to be adjusted and native limits of usage. In-depth understanding of its mechanisms allows to literally craft the blockchain core to meet the needs of a particular product. Though this might sound as ‘brain surgery’, it can be done in amazingly fast and confident way if you work with professionals, and have clear understanding of what is required. If the requirements are still to be clarified - we can start from scratch, analyzing your unique process and assessing the options to ‘blockchainize’ it.
Why the consensus is crucial?
Custom Consensus sounds as if you want to design some very specific way to settle an agreement with your peers… In essence, that’s it. In blockchain glossary, consensus means the way decentralized participants come to an agreement regarding the network state, and one of the main purposes is to provide BFT - Byzantine Fault Tolerance, as ability of a network to be synchronized at a stated level of distrusted or treachery nodes. And in the consensus concept lies the key to overall network performance, that is why the design matters: if you want something faster than current Bitcoin transactions - you have to pay attention to the consensus. And if the logic of business requires multi-layer node architecture, with couple of side-chains, micropayments support and nearly-instant transaction processing - consensus design need to be addressed firsthand.
Blockchain can do it
The blockchain concept is undoubtedly a breakthrough in software and network technology, it brings changes which may exceed the impact of Internet. But endless and unimaginably diverse applications of this tool is a matter of research, design and development of unique solutions, driven by your inspiring vision.
The blockchain can rewire your innovation, try it with us.
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