Enterprise blockchains on a Public Chain!
Web3 transformation is beginning to accelerate at an exponential rate. Enterprises & app developers alike are keenly looking for ways to migrate to Web3 protocols. Web3 is highly disruptive, yet brings immense business growth opportunities for enterprises. Enterprises & Web3 apps can also reduce operating & IT costs significantly by adopting decentralized protocols. While Web3 is highly relevant to DAOs (Decentralized Autonomous Organizations), Apps & enterprises alike, the focus in this blog is on how enterprises can build secure networks over the Rubix public blockchain instead of building expensive & clunky private / permissioned chains. Blockchain & Web3 offer significant benefits for enterprises. Enterprises across sectors that adopt Web3 will benefit immensely, while those who don’t might face disruption from incumbents or new entrants. Benefits of Web3 adoption include (a) better settlement internally or intra-industry (b) supply chain improvements ( c ) newer markets/growth opportunities (d) lower IT infrastructure costs & (e) Better ESG (environmental, social & governance) compliance. Enterprise blockchain adoption though has faced significant challenges so far. The challenges include (a) concerns about data security/privacy (b) storing data at all public blockchain nodes & ( c ) high transaction/infrastructure costs. Enterprises so far preferred setting up private / permissioned chains for both internal & intra-industry applications. Most of these applications fail to scale for the reasons explained in this para. The real benefits of blockchain accrue for enterprises on a public chain. The benefits of a public chain are several, but the most notable ones are (a) malleability — enterprises can expand/contract chains based on projects without needing to build custom blockchains for each use case & (b) open-source- having a community of developers/trouble-shooters gets better apps & reduces costs. While the benefits of a public chain are immense, faster adoption requires solving the current constraints. Public chains can offer a better way for enterprises to adopt Web3, But is there a public chain that can meet the needs of enterprises? In other words, can enterprises launch their chains on a public chain? After a long search, I came across a scalable open-sourced project called Rubix Chain which has been maintained for over a year providing huge support to anyone who wants a blockchain solution. I was very keen then onwards to see what’s going on and how their platform has been improving over time. The network was able to meet my expectations & ticked all the boxes including (a) having an option to choose validators such as custom validators or randomly chosen validators & (b) better infrastructure control which no other project has offered to date. Rubix Chain is a highly scalable blockchain protocol, using which enterprises or consortia can launch multiple proofchains with the same infrastructure. Rubix has its own platform, git repos, wallet, set-up system, support, etc. An open-source project having this level of support even for enterprise users too should be appreciated. Anyone who wants to set up their controlled network can use Rubix Chain — the setup process is very easy & there is good documentation. The entire network can be up & running in hours, not days. Rubix ProofChain is the chain of all transactions that are bound by the user token called utility token (RBT). All ProofChains with tokens committed in the genesis node were originated by the genesis node itself and are stored and committed using the protocol and its ownership is globally verifiable. All others that are not pre-committed to the genesis node are mined by the validators and the corresponding ProofChain of that token will be starting with the validators node that has mined the token. Let’s take a look at what’s happening inside the Rubix Chain and understand why it’s the best enterprise solution. One major issue enterprise users face is the data discrepancy between different nodes or sub-networks. While in other public chains, third parties or oracles are needed to sync subnets, sidechains or parachains, in Rubix, different proofchains automatically sync to represent one global state without the explicit need for 3rd party nodes or oracles. Another major advantage of the Rubix Chain is that even though it is a public chain, the level of decentralization that the network provides is flexible and customisable. Ideally, blockchain should be decentralized but based on the use case the Rubix Chain is adaptable in such a way that it can choose how decentralized the network should be, the level of security, which validator/quorum should be validating the transaction, etc. There could be some users who just want to have limited control over the data, while others want entire control whereas some others require entire decentralization. All these can be configured by just updating the quorum list with who validates the transaction. This choice of quorum brings forth the next major advantage, data control over the network, as this is one such major situation most enterprise users need is the option to validate the transaction within its nodes itself; this could be due to some internal policy or limitation in data sharing; Rubix provides the perfect solution for enterprises in adopting based on their needs. Let us discuss how Rubix can help enterprises meet their various requirements easily. For each Rubix transaction, the initiator can define the type of transaction it requires, based on the type the quorum will be picked. In Type 1 transaction quorums are picked from a broad set of global validators, randomly, whereas Type 2 transactions will help enterprises or consortia use a pre-determined cluster of validators. Type 2 helps enterprises/consortia have better control over their data. Type 2 does not mean losing the benefits of a decentralized network (attributes such as immutability & Sybil resistance) as all enterprise chains will be part of a shared global state with a single public swarm key! Transactions done using a Type 2 transaction are as secure, immutable & globally verifiable as a Type 1 transaction, due to the revolutionary Proof of Pledge consensus protocol (more on this in the whitepaper found in the git repo. Malleability is perhaps the biggest benefit of building enterprise chains on top of the Rubix chain. For example, a consumer goods company can download the free Rubix software on all its internal computing nodes to run internal applications. Some of the internal nodes can easily be switched or be added to a consortium network without any time delay or additional costs. This makes enterprises highly adaptable to Web3 without necessarily committing at one go or doing costly PoCs. Since Rubix Chain is a resource-subdued, lightweight blockchain and easier to setup compared to other heavier public blockchains, it becomes cheaper to run as additional resources like parallel computing machines or ultra-spec systems are not necessarily required. Any normal machine that is capable of running normal applications and tools will be able to run Rubix Network on their machine. Another key requirement for enterprises is handling identity & KYC. Rubix is the only protocol with Decentralized Identity (DID) built from scratch. It is easier to build Identity & Access Management (IAM) & KYC applications using Rubix. From cost-effective to flexibility and security to scalability Rubix Chain is a project anyone can bet upon, unlike other blockchains that claims to be decentralized but are centralized by infrastructure Rubix network maintains the integrity of being decentralized. Setup instructions are available with all files here, repo also can be cloned from here. There is already significant interest from enterprises in building various applications including document management, finance, HR, ESG provenance, supply chain management & media. Rubix could be the protocol that helps enterprises quickly adapt to the inevitable rise of Web3.