Quorum Development
The Blockchain for the Financial Industry
Specialists in Financial Applications on Blockchain
Quorum is a step towards mass adoption of blockchain among financial industries. Quorum is permissioned blockchain platform based on ethereum focussed on enterprises and specifically designed for the financial sector. Quorum Blockchain is built for the sharing and replication of data that is the common need for a financial enterprise. This is a layer on top of Ethereum enabling robust performance of private transactions with different consensus algorithms. The Quorum has increased performance than public Go-ethereum(Geth) protocol.
There are three main components on the Quorum Network we develop for you:
Quorum Node
Modified Go-Ethereum Client
Quorum Node
Modified Go-Ethereum Client
Quorum Node
Modified Go-Ethereum Client
How Quorum Works?
Party A
1
Transaction
+
Symmetric Key
=
Encrypted Transaction
2
Encrypted Transaction
+
=
Hash(Stored On Chain)
3
Symmetric Key
+
Party BPublic key
=
Encrypted Symmetric Key
Party B
4
Encrypted Transaction
+
Encrypted Symmetric Key
=
Hash(Stored On Chain)
5
Encrypted Symmetric Key
+
Party B Private key
=
Symmetric Key
6
Encrypted Transaction
+
Symmetric Key
=
Transaction
Advantages of Quorum Blockchain
Privacy
We can develop private transactions and private contracts on Quorum Blockchain through public/private state separation. We use Constellation, a P2P encrypted message exchange from private data to network participants.
Alternative Consensus Mechanisms
Instead of POW or POS, we offer various consensus protocol on Quorum. Raft-based Consensus model for faster blocktimes, transaction finality, and on-demand block creation Istanbul BFT consensus algorithm with transaction finality.
Peer Permissioning
The node uses peer permissioning with the use of smart contracts, ensuring only authorized parties can join the blockchain network. The peer to peer layer is modified to allow connections from & to permissioned/authorized nodes.
Use Case of Quorum Blockchain
We develop Quorum Solutions for a variety of private/permissioned applications for the financial industry. Our team of adept blockchain enthusiasts and quorum experts have developed solutions for the following applications.
- Asset Tokenization Platform
- Stablecoin Development
- Custodial Services
- Secret Ballot Voting
- Quorum DApps
- Government Welfare Solutions
- P2P digital asset exchange
- Data Integrity Compliance
- Inter-bank Settlement Layer
- Issuance of Loyalty Points
