IndiBloc: Design Notes & Usecases
Wiki documents and other collaterals
WORK IN PROGRESS (WIP)
IndiBloc network will be a cryptographically secured distributed ledger. Its authenticity verified by trusted network consensus operators and auditors.
The Public Anonymous Blockchains globally sequence the transactions into blocks. This is necessasy as they all have a native cryptocurrency embedded into its architecture. Since, permissioned consortium blockchains deal with fiat currencies, they do not have any real need of a globally sequenced bloc chained ledger.
Thus the next generation blockchain architectures like Corda, IOTA and Hashgraph are moving away from blockchain towards transaction chaining. even though IOTA has a native cryptocurrency it still has moved away from blockchain.
Instead of creating blocks of globally sequenced transactions, we are now using IPFS Merkle DAG to chain the transactions. In the first version we are using a Private Ethereum Network for sequencing the Transactions; similar to side chaining concept.
In the next versions of the IndiBloc, we will be leveraging RAFT cluster over IPFS, to build the consensus. We are Modeling upon the IPFS Cluster design.
We will be open sourcing the code once we reach a stable milestone with a couple of use-cases working.