Swedish blockchain startup ChromaWay has introduced a brand new distributed database product referred to as Postchain.
Revealed at present on the Cash2020 Europe in Copenhagen, ChromaWay positioned the brand new know-how as one that may mix the advantages of an SQL database, whereas including parts of blockchain technology.
While which will sound antithetical to its previous blockchain work, ChromaWay CEO Henrik Hjelte as a substitute framed the product as one which was maybe extra according to the wants of enterprise corporations.
“We can do the implementation directly in your database, but you get the same security properties as a federated blockchain. Postchain is one implementation of that idea,” Hjelte stated.
A profit, in accordance to the CEO, is that Postchain works with established enterprise database techniques like Oracle and Microsoft, or open-source databases like PostgreSQL, he stated.
Hjelte advised CoinDesk:
“Blockchain is commonly described as a database, however once you take a look at it, it is not likely appropriate for storing and retrieving knowledge in the identical means a relational database is. Blockchain, the core concept is a linked record of transactions, however a database is designed to have sure properties for managing data over a very long time.”
The concept for the Postchain product got here from earlier ChromaWay initiatives by which the workforce was trying to pace up the transaction capability of its designs according to the calls for of company customers.
Already ChromaWay’s clients, together with a media sector consortium, are at the moment attempting out Postchain, Hjelte stated. It will additional function the back-end for good contracts on the corporate’s venture with the Swedish land registry, which information property transaction offers.
“You’ll have a safe replication of knowledge between databases, so each node that’s collaborating in a consortium may have the identical copy of the database,” defined Hjelte.
The supply code for the venture might be launched later this summer season, in accordance to the agency.
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