Designed specifically for the financial sector, R3 Corda is an open-source distributed ledger platform(DLT). Used to build applications for financial companies, it is a permission private network. Corda is helpful in removing costly friction in business transactions to allow businesses to transact directly.
Corda’s key features include:
- Corda has no unnecessary global sharing of data: only those parties with a legitimate need to know can see the data within an agreement
- Corda choreographs workflow between firms without a central controller
- Corda achieves consensus between firms at the level of individual deals, not the level of the system
- Corda’s design directly enables regulatory and supervisory observer nodes
- Corda transactions are validated by parties to the transaction rather than a broader pool of unrelated validators
- Corda supports a variety of consensus mechanisms
- Corda records an explicit link between human-language legal prose documents and smart contract code
- Corda is built on industry-standard tools
- Corda has no native cryptocurrency
Why Corda?
Transparency
By making use of Consensus Time Stamping, Hashgraph ensures that no one can control the order of transactions.
Security
Based on the Bank-Grade Security, Hashgraph offers great security by ruling out bad actors from preventing consensus.
High Potential
Hashgraph is really fast and has potential to compute around 200,000 transactions just within a few seconds.
Uniqueness
Hashgraph works on the two techniques i.e. Gossip about Gossip and Virtual Voting to reach the distributed consensus that is quite effectual.
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