TDE – Technology for Truth
Technology to establish consensus
In our last blog post, we established the possibility for sufficient portable truth with a mathematics-based consensus mechanism. The defined requirements, other than being based on mathematics, for an acceptable consensus: integrity, agreement, and termination. Currently, there is a technology which has the potential to provide a mathematical consensus algorithm able to satisfy the necessary consensus properties: Distributed Ledgers.
Distributed ledger technology (DLT) is a consensus of shared, replicated, and synchronized digital data. The data is spread among multiple locations, institutions, and countries. There is no central governing institution for it and no centralized storage of data. Distributed ledgers have a rich and diverse history but saw huge innovation in the past few decades. One major development was the introduction of blockchain in 2008.
“Mathematics is, I believe, the chief source of belief in eternal and exact truth, as well as a sensible intelligible world.”
– Bertrand Russel, British Philosopher, Mathematician
Making blockchain viable
Blockchains are the most prevalent type of DLT in the present. They have the properties needed to serve as the consensus mechanism. However, many blockchains have some issues that make them unappealing for industrial applications. Public blockchains, in particular, are highly secure, however, they are also slow and expensive.
To overcome these shortcomings and make DLTs like blockchains viable there are solutions that address these issues while retaining the benefits of blockchains. Cryptowerk has introduced such a solution with Cryptowerk Horizon™. This technology increases speed by bundling transactions. It does so by combining hashes into one super hash and hence one transaction. All this without losing oversight, while still being able to give each individual hash its own Seal™, the key for later verification. A Seal is a digital artifact that provides proof of your original data.
Returning a Cryptowerk Seal is necessary for data verification later in time. All transactions made on a blockchain can be viewed by every stakeholder, which may be problematic when using public chains like Bitcoin or Ethereum. One such example would be healthcare patient data underlying strict privacy regulations requiring it to be secure from prying eyes.
However, without the Seal, it would be impossible to find the roothash in the blockchain as it is obfuscated by the super hash. Hence, if the Seal is deleted there is no possibility to link the blockchainified data to anyone or anything.
The Seal not only gives you the opportunity to independently verify data, it establishes portability as a token and gives control to every participant of a trusted data exchange enabled by Cryptowerk Horizon.
“Mathematics allows for no hypocrisy and no vagueness.”
– Stendhal, French Writer, Politician and Militarist