Blockchain is the name of revolutionary technology for storing and handling information. Simply explained, a blockchain is a time-stamped series of immutable records of data that is managed by a cluster of computers joining into that blockchain. Each of these blocks of data is secured and bound to each other using cryptographic principles. Therefore, there is no central server to execute data recording. Since it is a shared and immutable ledger, the information in it is open for anyone and everyone to see. Hence, anything that is built on the blockchain is by its very nature transparent, and everyone involved is accountable for their actions.
Blockchain traceability is the traceability system built on Blockchain platform to identify, track and trace elements of a product or substance as it moves along the supply chain from raw goods to finished products. The difference between Blockchain traceability and traditional traceability is about the technical aspect of Blockchain. Unlike the traditional centralized system, Blockchain is the decentralized system, which has no central place for data handling. That means blockchain is more secure, more transparent, and immutable. Once the data is updated on Blockchain, it will be recorded with the exact time of updating called time-stamped, and it is unchangeable. Everyone can access to Blockchain to retrieve the data easily and read the history of information updating. This makes Blockchain data trustworthy and solves the weaknesses of current centralized Traceability systems. Therefore, a Blockchain traceability system is transparent in nature and more secured, faster than the traditional traceability system
Blockchain technology will revolutionize the current Supply Chain to become more efficient, more sustainable and more reliable by making the information flow more efficiently. All information is permanently stored and cannot be altered or deleted, thereby enhancing transparency in all stages of the supply chain. Also, the immutability of blockchain increases confidence in data integrity and reduces risks from counterfeits, business frauds, and gray markets. Moreover, Blockchain eliminates the need for a third party, significantly reduces overhead costs and general complexity.
WOWTRACE follows CET (Critical Event Tracking) philosophy, that means the actual event will be recorded and continuously updated by various actors in the supply chain. This information then will be stored permanently and immutable in Blockchain to support tracking and tracing purpose, and further, provide trustful data for supply chain improvement, evidence for customers’ trusts and loyalty. To explore more about how WOWTRACE works, please visit here.
WOWTRACE has many features that make competitive advantages for businesses, to get the details of our features, please click here
WOWTRACE is built on Hyperledger Sawtooth platform, which is an enterprise blockchain platform for building distributed ledger applications and networks. The design philosophy of Sawtooth targets keeping ledgers distributed and making smart contracts safe, particularly for enterprise use. Here are Some key advantages of Sawtooth:
– Backed by Hyperledger umbrella and Intel
– Parallel transaction execution
– Pub-sub events system
– Modularity and pluggable consensus algorithms
WOWTRACE is a BaaS (Blockchain as a Service) solution, so that it can be easily implemented on Web, mobile, tablet without any installation. We provide flexible solution packages to fit with all kind of businesses from a new start-up to big enterprises. For special deal, we can customize the solution for specific needs upon request from customers.
To ensure data security for every users and business, WOWTRACE focuses on enhancing data protection with the following features:
1. WOWTRACE uses PoET consensus
Proof of Elapsed Time (PoET) consensus is a Nakamoto-style consensus algorithm. That is, it uses a lottery-based mechanism. Each node generates a random wait time value in a secure enclave, then waits that many seconds. The node with the timer that expires first wins and can add its proposed block to the blockchain. The random wait time value is signed in the enclave, and all other nodes verify the timer signature. Sawtooth supports both PoET with SGX (BFT) and PoET without SGX (CFT)
2. Sawtooth Permissioning:
– Sawtooth restricts who may access a Sawtooth validator node
– Transaction Family Permissioning controls what Transaction Families are supported by the network
– Policies and Roles permits or denies performing operations and/or accessing data
– Transaction Key Permissions controls what client can submit transactions, based on the signing public key
3. Challenge-Response Authorization: verifies connections between nodes
4. Sawtooth Encryption: data from client to nodes or between nodes is all encrypted
5. Transaction Input/Output lists: restricts the transaction processor from modifying addresses in the state that are not listed in the transaction header
6. Observability: Pub-sub events mechanism allows to see what the software is doing
7. Internal Security Mechanisms
8. Network security
– Back pressure, a flow-control technique to reject unusually frequent client submissions
– Zero Message Queue (ZMQ or 0MQ) used for communications between nodes
– REST API input is validated to avoid buffer corruption or overflow attacks
– TCP ports used for communications between nodes are totally closed for outside access
WOWTRACE works as a BaaS (Blockchain as a Service) and can be can be easily implemented on Web, mobile, tablet without any installation. If you need more technical consultation, please contact us
WOWTRACE provides flexible solution packages to fit with all kind of businesses from a new start-up to big enterprises to implement. Click here to see the detailed prices.