Quorum Blockchain Development -crypto soft india
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.
Quorum
blockchain development services:
Quorum
Blockchain Development
Quorum
is an enterprise Blockchain that leverages Ethereum's smart contract
and other transactional capabilities. We build scalable dApps and
blockchain powered solutions that take advantage of Quorum's
capabilities.
Permissioned
Blockchain development
Permissioned
blockchain development for enterprises focuses on creating a new
generation of Highly secure blockchain powered platforms that limit
access to those who are approved.
Supply
chain Management development
Quorum
Blockchain powered Supply
Chain Management development involves developing a platform that
tracks every stage of manufacturing to maintain quality, save cost &
time.
Cross-Border
Payments development
Cross-border
payments platform enables transferring money across the world with
Zero to low-cost transaction fees. Developing a platform on Quorum
Blockchain enhances privacy and faster transactions.
Advantages
of Quorum Blockchain
Speed
of Settlement:
Quorum
offers faster transaction settlements compared to Ethereum and
Bitcoin. Making it a preferred platform to build any Fintech product
over it.
Privacy
by Design:
Enhanced
privacy is a key feature of Quorum blockchain and dApps
built over it can take advantage of the privacy it offers for the
smart
contracts and transactions done on the platform.
Scalability:
Quorum
blockchain development of dApps involves a modular approach and each
component on the Quorum blockchain is built to scale. As and when
Quorum is updated, your dApps can be easily updated to take advantage
of the latest features it has to offer.
Peer
permission management:
Peer
permission management is an inbuilt feature of the blockchain and is
easily invoked to create a permissioned network access capability to
your dApp. Ensuring only trusted nodes have access to the network.
High
Performance:
Quorum
is capable of handling settlements as close to 100 confirmed
transactions/second. As more and more improvements are made to the
blockchain, the transaction rates are expected to increase.
Multiple
Consensus mechanism:
Quorum
Blockchain introduces two new consensus mechanisms Istanbul BFT and
Raft mechanism, instead of the regular, well-known Proof of stake and
Proof of work mechanisms.
Applications
of Quorum Blockchain Development:
eGovernance:
EGovernance
facilitates access to a variety of government services that the
public can avail, check data and claim benefits through these
services. Giving citizens access to crucial public data from
different government department builds trust between the government
and the citizens, which is essential to the country's growth.
Leveraging Quorum Blockchain's immutability and privacy features
Healthcare:
The
secure Datalayer built over the Quorum blockchain can offer storage
and access to eMedical Health Record and nationwide interoperability
through an interoperable node between different blockchains. Quorum's
permissioned network feature could limit access to only known
entities that are on it's access list thereby taking care of data
security.
Banking:
Banking
is one of the mission-critical use cases where hefty transactions
need to go through within a short span of time than days.
Traditionally, it would take days for cross-border payments, but
Quorum's high-speed transaction settlement capability can ensure that
payments are settled quickly with low transaction fees. Innovations
in banking technology and cross border payment systems can allow
global travelers to use funds from their account to seamlessly
convert to the local currency of the country they are visiting.
Asset
Tokenization & Management:
Tokenized
assets are the next big thing. In fact, Quorum was built by the bank
JP Morgan to tokenize Gold bars. Ranging from real estate to
liquidated assets, tokenizing of assets increases the revenue
potential by opening up investment opportunity to billions of buyers
worldwide who can invest in the asset free from regulatory and
geographical barriers.
Loyalty:
Loyalty
program is a key growth factor for some businesses that look for
repeat customers who can be incentivized for being a regular. Loyalty
programs give a deep sense of brand engagement. Based on Quorum
blockchain's tokenized asset offering can help businesses create
tokens that would be used to reward users. These tokens can increase
in value depending on their utility and acceptance across different
platforms. Our expert developers create tailored loyalty program
software that harnesses Quorum blockchain's capabilities to offer a
seamless experience to your customers.
Key
Factors in Quorum Blockchain Development
Ease
of use:
Emphasize
is on the ease of use as the dApp's flow developed needs to be
quickly understood by the end user and it is critical to make the
platform stand out.
Robust
Architecture:
While
developing the quorum blockchain powered architecture for your
business software, keeping in mind that newer features would be built
in the future, our robust API layer would allow you to build features
easily.
Convenience:
While
developing products for consumers, detail-oriented design and
adequate on-screen help are sufficiently provided so the users don't
get stuck.
Security:
While
Quorum blockchain's security is inbuilt, the dApp layer we build
would be tested from threats that are well-known and information
leakage. Security is a key aspect of our blockchain development.
Scalability:
Scalable
infrastructure enhances the site's experience. A key emphasize during
the Quorum blockchain development would be to make the entire payment
infrastructure scalable and modular in order to make future upgrades
possible.
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