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March 30, 2020 at 5:52 pm #40151
#News(IoTStack) [ via IoTGroup ]
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Blockchain Reference architectureAuto extracted Text……
It depicts a layered architecture that provides components and services necessary to implement blockchain applications for enterprise needs.
The application could use a command line interface (CLI) tool as provided by any blockchain framework implementation or it could use language specific SDK (Software Development Kit) to communicate with nodes on the network.
The client application can also listen to various types of events occurring on the blockchain network and perform the necessary actions on those events.
Smart contract is a software code that represents transactions in the blockchain network.
An external application can interact with the blockchain middleware using adapters and upon obtaining valid certificates to access the blockchain network.
The peers or the nodes in the blockchain network can then go about validating this data using a specific consensus algorithm using smart contracts.
The ledger is shared across the blockchain network, which means every node has a copy of the ledger, and each node verifies the transactions independently.
The blockchain network uses different consensus algorithms to arrive at the consensus.
For a permissioned-based blockchain network, one can implement a pattern called ledger conduits.
Conduits can be thought of as private channels in the blockchain network where two or more nodes perform transactions even more privately.
Each node can update the blockchain network with data in the form of transaction that eventually needs to be verified before it can be officially recorded as part of block in the ledger.
Each node updates and validates the blockchain network based on certain given set of rules or conditions.
In public blockchain, every node can participate in the network, while in the permissioned network you have some form of access control that only allows required nodes to participate in a transaction
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AutoTextExtraction by Working BoT using SmartNews 1.0299999999 Build 26 Aug 2019
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