Yesterday saw the Corda network launch in Amsterdam, the Netherlands. Corda is a blockchain company that was started to bring traditional businesses closer to great blockchain companies and developers.

Corda seeks to enable businesses with the opportunity to transact directly and seamlessly with security. The event also saw companies like AXVECO , a blockchain company and the ING bank, a user of the Corda network present at the launch of this network.

The Corda network is available to the internet and is operated by network participants. Nodes on the network are identified by certificates that issue the network identification services.

Corda offers interoperability together with the possibility of exchange of data and assets between parties securely and efficiently. All transactions in the network can be done via an internal layer as the platform has no isolated Networks.

This ensures that all participants can transact with each other while trusting each other.

This network went live back in December 2018 and is governed by the R3 consortium.

Cryptolinenews reported back in January the 22nd 2018, that R3 was also ready to launch its Corda network globally as an independent not-for-profit foundation set up to govern the networks.

Corda offering Notary services

The Corda network intends to be a background utility system, while being able to move cash, digital Assets and identity data from applications or businesses. Companies doing business with Corda will have a business network operator that will also benefit from being able to access the network services.

The Corda network operates a designed separate consensus mechanism with a blockchain.

This will be provided by one or more Notary Services set to digitally sign transactions. There must be a transaction timestamp within it that can be seen on the blockchain for verification.

Networks that are operating with businesses may choose to enter into a legal agreement together with participants in order to rely on the presence of these digital signatures as this is needed when determining whether a transaction is to be treated as ‘confirmed’ or in accordance with the terms of the network agreements.

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