R3's Corda is a distributed ledger for recording and managing financial agreement between regulated financial institutions. It is mainly focused on the benefits of using blockchain systems. This design is the result of the detailed analysis and prototyping with the members and will be made open sourced.
What is Microsoft Azure?
Microsoft Azure is a cloud computing platform for building, managing and deploying applications and series through a global network of Microsoft. It recently announced the availability of R3's Cords blockchain into its environment. This was done in the context of providing a platform for consensus algorithm for the management for various financial transactions on the R3 block chain.
Corda has recently been announced as the open source network and thereafter led to the availability of it in Microsoft environment. R3 published a virtual machine image in Azure Marketplace in order to provide a multi-member Corda demo network on a single VM. This was built on collaboration with 70 members of R3 and was hence introduced in April.
Project Bletchley
The latest offer from Microsoft is the packaged installation files for Corda available in a series of block chain called Project Bletchley. This project would introduce a modular framework allowing users to choose the best combination of technologies which best fits their business models. Also, there would be an introduction to two new concepts in Microsoft Azure environment, Blockchain middleware and cryplets.
The release of R3 Corda block chain shows its users how Corda can be used in the real-world scenarios, by making Corda demos available on the Azure Marketplace. R3 and Microsoft are making it very easy for all the newcomers to experience Corda as an open source before joining the community. As R3 describes it has far better advantages than other distributes ledger projects such as Ethereum and Hyperledger because consortium has been making a tight focus on various financial services.
