Hyperledger’s annual Member Summit brought together representatives from member companies to connect with each other, address common challenges, and share lessons learned for enterprise blockchain and distributed ledger technologies to grow and thrive. Samsung SDS had a session with David Huseby and Sueyoung Chang from Hyperledger with a theme “Proven Approaches to Privacy, Confidentiality, and Security in DLTs.” Samsung SDS has summarized the implications from the sessions into a whitepaper.
Proven Approaches to Privacy, Confidentiality, and Security in DLTs
The whitepaper discusses several approaches to fulfill the privacy, confidentiality, and security in a distributed ledger. In the blockchain, every node in a network owns a ledger that is identical to one another, and the ledger is updated whenever a new block is generated. Since the nature of a blockchain is oriented to the openness of data, which is the opposite of privacy and confidentiality, techniques to enhance data privacy and confidentiality are demanding.
Accordingly, techniques have further been developed to guarantee robust confidentiality and privacy – that is to ensure that transactions and data are accessible to only the parties that the sender of the transaction intended. The white paper examines three approaches and techniques to enhance data privacy and transaction confidentiality on the blockchain. Each method has its distinct design purpose.
A New Approach : Off-Chain Manager
The whitepaper additionally introduces more on the Off-Chain Manager that Samsung SDS has researched and developed. Samsung SDS adopts off-chain to provide blockchain with privacy and confidentiality tailored to an enterprise’s needs without compromising the properties introduced and benefits gained by blockchain. By using hybrid transactions that combine on-chain and off-chain transactions, Samsung SDS could ensure data privacy and confidentiality. Sophisticated access control and ensure data lifecycle management can be customized with ownership management as well as.
To see the complete details, download the whitepaper here.
Cover image by Pete Linforth from Pixabay.
