FILECHAIN TECHNOLOGY
Scalability
Add any number of nodes and software agents for horizontal scaling and sharding.
Scalability is one of the major roadblocks to mainstream business adoption of distributed ledger technology. Why is it so hard to solve?
FileChain is a permissioned ledger of data without its own token or cryptocurrency eliminating by design the inherent scalability limitations associated with double-spending. Also FileChain does not have any specific hosting requirement and can run within any environment to unleash good vertical scaling capabilities.
Many instances of the FileChain Nodes running the ledger and the FileChain Agents transacting on that ledger can be deployed to provide excellent horizontal scaling.
Finally, FileChain enables very natural sharding of the data domain with the possibility of running many ad-hoc miniature ledgers at the edge to meet the scalability and performance requirements of any large enterprise-grade, industry-wide deployment.
Interoperability
Use common standards to interoperate and integrate with legacy systems and bridge different distributed ledger schemas.
What is interoperability and why is it important?
The ability to interact and integrate is fundamental to grow by network effect. Hence, decentralisation and interoperability are closely interconnected. FileChain can promote standardised data models to streamline interactions but does not impose any rigid data model itself.
Instead, it provides the means for business partners to agree on the most optimal way to collaborate with each other for the best interoperability based on existing IT infrastructure and current business workflows.
FileChain reference implementation is java based with REST APIs to ease integration with existing information systems. FileChain “footprint” has always been kept extremely small by design to be directly embedded into autonomous systems and even IoT devices.
Reactivity
Allow rapid integration and deployment of new applications and use cases without lengthy software development cycles for reduced time-to-market.
Why are smart contracts not so smart and why is reactivity a key differentiator for business agility?
FileChain does not rely on smart contracts as their hard-coded logic is intended to be self-executing and self-enforcing. This makes smart contracts rigid as they are failing by nature to capture any special case in a timely fashion without lengthy development and testing cycles, which results in increased time to market and shorten reactivity to align with business imperatives.
Without formal proof of behavior, smart contracts constantly remain subject to malicious abuse leading to potential loss of money, leak of sensitive information or bad reputation and remain hardly enforceable by a judicial system because of their lack of clear liability at the time of execution.
FileChain enables full automation and rule-based processing but without those fundamental limitations to easily digitalize, execute and monitor any workflow between business peers and to enable easy evolution of those processes over time to constantly adapt to changing environments.
Traceability
Enable digitalization of workflows, asset ownership, decision making processes, access control and monitoring of service level agreements.
How can full traceability be unlocked?
Each FileChain ledger enables a consortium of parties such as individuals, private commercial organizations, public administrations, devices or systems to transact with each other.
All digital identities are based on asymmetric cryptography so that each transaction posted into the ledger is signed to uniquely identify its originator and can be independently verified by all other participants to guarantee provenance.