Corda Platform Analysis

Part 1 Corda platform

Corda is a distributed ledger platform for recording and processing financial in the way of consortium or a permissoned chain.

Principal Features

Corda provides a framework to run smart contracts with these key activities and features:

• Supporting consensus between firms at the level of individual deals, not a global system.

• Supporting the inclusion of regulatory and supervisory observer nodes.

• Validating transactions solely between parties to the transaction.

• Restricting access to the data within an agreement to only those explicitly

• No concept of block in Corda, but merely transaction connections to achieve immutability and traceability.

Part 2 Corda architecture

There are five nodes in Corda and each of plays a distinct role :

1. System management

Including green node(identification service node) which plays a similar role of CA, grant certificate, set permission, and blue node(network mapping service node)plays a role of  DNS.

2. Transaction management

Light blue node(common user) can open a transaction which will be sent to specific green node to verify its validity and uniqueness, sign the transaction and send back to the affiliated party. Affiliated party and certified node will respectively connect this transaction to the previous one to form the transaction chain.

Yellow nodes(certified node) process PBFT/RAFT consensus algorithm.

3. Black node(value agency)

It is used to get real-time data outside of chain

4. Smart contract

Contract written in Java and kotlin running on top of Corda

Part 3 Business Logic

Left column represents buyer node; Middle one represents seller node; Right one is certified service node

Transaction starts from seller node:

1. Sellers offer an asset with price;

2. Buyers validate if sellers has enough legal asset firstly, then accept it and at the same time auto create signed Tm if buyers have an agreement with seller on the price and the asset.

3. After being notified, seller validates if buyer owns enough legal amount of money, Ta with signed will then be created.

4. After sellers receive Tm sent from buyers, consolidate with Ta and generate Tma which will be sent to the Certified node for the validation.

6. After passing the validation from Certified nodes, they will upload and update the database, transaction with signature sent back to seller.

7. Sellers add signature from certified node into Tma to generate the final transaction, update its own ledger and at the same time send the final confirmed transaction to buyers; Buyers then do the same thing to validate this transaction and updates their own ledger.

8. One transaction is successfully done and recored in Corda by now.

---

Reference :

[1] https://docs.corda.net/_static/corda-introductory-whitepaper.pdf

[2] https://mp.weixin.qq.com/s?__biz=MzIwMDgzMTAyOQ==&mid=2247483829&idx=1&sn=58df4e432a8634890450b5885e681824&chksm=96f678efa181f1f97d8f4ae35115452230aaace6a31ee37457540c5237deb15fcd108c8d2386&mpshare=1&scene=1&srcid=1222vRUPsU57YDVfmAMhXNTn&pass_ticket=aRSe91LL4g5IuKQQmgp84X4xCuY1bq9GnvQZcyBskLQlpGsx5suQFAKmXv5H8ybg#rd