Blockchain Daily

Oracle Plans To Introduce More Security In Permissioned Ledgers

Oracle Plans To Introduce More Security In Permissioned Ledgers

Blockchain users praise and support its decentralized system. However business software giant, Oracle, have introduced a patent for increased accoutability in permissioned ledgers.

In 2016, Oracle submitted the first patent application that concentrated on validating data in the “workflow process” via blockchains. After the second patent was submitted last year, the application for “Accountability and Trust in Distributed Ledger Systems” was finally released on August 17.

The U.S. Patent and Trademark Office (USPTO) published this patent which concentrates on permissioned ledgers. These ledgers are only accessible to chosen participants.

Oracle is trying to introduce security by establishing unbiased authority on permissioned ledgers. The patent states that maintaining permissioned ledgers is not easy and sometimes monitoring the activity of the nodes is tricky. It says:

“Even in permissioned ledgers, however, a participating node may violate a fairness policy, for example because it has been hacked, its software is defective, or its operator is dishonest. In principle, permissioned ledgers make it easier to hold nodes accountable for fairness policy violations: once exposed, a violator may lose a deposit, may be expelled from the ledger, or may be sued.”

The patent further implies that not being able to notice these activities and ignoring these violations is a problem that needs to be solved.

Oracle plans on altering the codes of the software Tendermint and using it to create a system that would be able to solve problems such as stopping the nodes from abandoning or changing the order of transactions and “transaction censorship”.