The document provides an introduction to Corda, a distributed ledger technology (DLT) developed by R3, which is utilized by over 200 financial institutions. It outlines Corda's unique architecture, including features such as peer-to-peer networks, states, contracts, and flows, emphasizing its scalability and advantages over traditional blockchain systems. The document also mentions potential disadvantages, highlighting the need for limited transparency and onboarding requirements in its use.

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Frido Fechner & Erik de Graaf
Introduction to DLTs: Corda

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Made and run by R3
R3 is a consortium of >200 financial institutions
Distributed ledger technology
P2P network
Free OSS
Enterprise version is not Open Source nor free
What is Corda?

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States
UTXO, used as input and/or output of transactions
Spent or unspent
Contracts
Verify states and transactions
E.g. the provided values
Flows
Rules for business processes
E.g. what participants are involved
Notaries
Keep track of (un)spent states
How does Corda work?

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Source: https://docs.corda.net/key-concepts-ledger.html
Overview

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P2P
Authenticated
Certificates
Notary Nodes
Network map nodes
Network

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(Source: Corda Module 9)
Source: Corda Module 9
Network

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Represent facts in the system
Are created and consumed in transactions
Source: https://docs.corda.net/key-concepts-states.html
States

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Corda's Cash example: State

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Example for verifying issuing:
Contracts

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Example for verifying issuing:
Flows

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Demo

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Scalability
Not every node stores and works with everything
Saving CPU
Saving storage
Privacy
No anonymity
Easier consensus
No need for energy wasting PoW
Easy to add legal contracts
JVM
Writing code in Java / Kotlin / Scala
Production ready
Advantages compared to Blockchain

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Consensus between a handful of parties instead of thousands
No anonymity
Onboarding required
Limited transparency
No public network (yet)
No currency
Possible to implement
Disadvantages compared to Blockchain

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Frido Fechner - Frido.Fechner@targens.de
Erik de Graaf - Erik.deGraaf@targens.de
Questions?