So far so good, blockchain innovation has continued apace in 2018, mostly for its features of being a ledger that is unalterable, unforgettable, highly secured with cryptography and of course smart contracts.
Meanwhile, we have witnessed quite a number of cryptographic network attacks, both huge and small. One of the more well known attacks actually causing a hard fork in the Ethereum blockchain creating ETH and ETC (DDoS attack on the ethereum network). The enterprise sector gets to bear the brunt of these attacks. After all, a large portion of blockchain usage focuses on finance or enterprise.
Can hybrid databases help?
Basically, a hybrid means two different but somewhat related entities imputed into one entity. Now, in the technology realm, a hybrid database has both in-memory database features and an on-disk database features. With this, the data of the network will have two records storages.
The hybrid model also provides business with the best of both worlds, data management and the security of a distributed ledger. Everything is SQL based so the user doesn’t have to be a blockchain developer to get started.
What is chromaway?
ChromaWay is a Swedish blockchain startup that has been working on secret blockchain related research and projects since 2011. Even inaugurating and monitoring several successful projects along the route.
ChromaWay most well known success to date is postchain, the first consortium database. A distributed database product which will combine the benefits of an SQL database and a federated blockchain together. It works with already established database systems like Oracle and Microsoft.
On it’s website, they explained thus:
We work with public and private sector actors to build and support applications on our platform, mainly around real estate and finance
Postchain will meet the needs of enterprise companies where the implementation will be done directly on the enterprise’s database and at the same time getting the added security advantages of blockchain.
The design facilitates a shared database for information sharing and exchange between individuals and companies. With this structure in place, if a participant’s device gets hacked, stolen or loses information, the other participant’s device is there as a backup. Activities can continue without a hitch and the participant regains the missing information.
Are hybrid database, the future?
ChromaWays postchain uses the added advantages of both SQL and blockchain, creating a hybrid. This hybrid sees to establish two way security checks for transactions with a two way verification process. It intends to be the most flexible and low maintenance platform with unrivaled robust functionality.
More on chromaWay
The ChromaWay team has been around since 2011, during which time they have been involved in blockchain research and publishing books. However, the company itself started in 2014, building and refining blockchain tech based platforms.
ChromaWay has been inaugurating projects successfully without launching a single ICO. Sounds almost unbelievable in this era of ICO frenzy. Among their achievements include working with national governments (Sweden and Estonia) on blockchain and crypto related national projects.
With Henrik Hjelte, as the CEO, the team is vibrant with talented professionals, some having decades of experience in their relevant field.
ChromaWays Postchain will serve as an additional layer of security for blockchain and traditional databases and help reduce the need for dedicated blockchain developers. The blockchain enterprise paradigms will be fundamentally improved.
Remember folks, Crypto is comin!
Subscribe to our newsletter
Follow us on twitter @cryptoiscomin