Postchain is the world's first consortium database
ChromaWay, a pioneer in blockchain technology since 2012 today announces the release of Postchain - the first consortium database - at Money 20/20, Europe’s largest FinTech event held in Copenhagen, Denmark. A consortium database combines the power and flexibility of mature database systems with the secure collaboration and disruptive potential of blockchain. Consortium databases represent the convergent future of enterprise blockchain and database systems. Consortium databases and Security Postchain is the first consortium database. A consortium database combines database and blockchain capabilities. Postchain works together with the largest existing database management systems. With small changes in the way a database solution is implemented organisations can have a secure distributed database protected by a Byzantine fault tolerant voting scheme, just like a federated blockchain. With Postchain, the best of both worlds are combined to offer a secure solution for storing information and data. Databases are great at storing and retrieving information, but lack the security and trust benefits of blockchains. Blockchains are great at security and trust, but sacrifice all of the flexible and powerful features offered by a modern database system. Postchain integrates the best elements of both to create a whole new category: consortium databases. Consortium databases let organisations take advantage of blockchain, without sacrificing the mature and powerful systems that they rely on.
Developing with Postchain
Postchain lowers the barrier for entry to blockchain. A blockchain solution with Postchain can take advantage of the large pool of SQL developers with production experience and expertise. There is no need for specialized blockchain developers, which are in short supply in such a young field. Postchain is an open-source product that works in conjunction with the market-leading enterprise database systems that are already trusted by almost every enterprise in the world.
About ChromaWay
ChromaWay was founded around the world’s first software for putting assets on the bitcoin blockchain, developed by its CTO in 2012. Since then ChromaWay has continued to pioneer blockchain development with one the first projects with a financial company, an award winning project with LHV Bank, as well as one if the first projects with a state entity, a collaborative project regarding processes in real-estate with the Swedish Land Registry, SBAB Bank, Landshypotekv Bank, Telia Company and Kairos Future.