The Technic behind Intrachain
Dear Intrachain Community,
Our Token Sale is in full swing!!
That’s why we want to focus today’s blog on some technical insights.
Overview of Intrachain’s technology
Intrachain wants to equip each party with equal data access. Therefore, Intrachain’s software consists of three components.
- The first component is the process mining engine that has been developed and is already being distributed. It directly collects the relevant data from the clients and passes it on onto the blockchain.
- As a second component, the Ethereum blockchain, an open source application, is added to this construct. In the case of Intrachain Private, the blockchain technology can store the relevant private user data. In the case of Intrachain Business, the blockchain technology is used to create a private blockchain where smart contracts enable automated accounting and automatic bookings and payments. The blockchain furthermore ensures data transparency and security for both Intrachain products due to its decentralized architecture.
- The third component, the API, functions as a bridge between the different systems and will be developed for each customer of Intrachain Business individually. This setup permits the software to be used directly after the token purchase by the clients.
Summarizing it can be said that the Intrachain application is composed of a process mining engine, an API, and an integrated ethereum blockchain.
The process mining engine tracks user efforts, while the API bridges the different IT- and EPS-systems. On the private blockchain, the data can be stored and transformed into smart contracts to execute transactions.
The Process
These transactions are then out as smart contracts on the blockchain with the help of our API. Then, smart contracts store the information in a transparent way and automate transaction processes. This effective transaction mechanism allows to:
- receive data from end-points (for example Contact Center agents software)
- put data into an ERP system (project management, accounting systems)
- run smart contracts
- store data in a decentralized blockchain with PoW consensus (PoS in the near
- future)
The Intrachain system runs as a fully Distributed Application (DApps) — except ERP, project management, accounting system, and process mining engine adapters that are speci c to each company using Intrachain Business. Intrachain’s eco-system is easily extendable by simply adding a new node.
Now, let’s take a look at Intrachain’s private decentralized blockchain: Intrachain works with a private blockchain network that takes the product to the next level of security and data reliability. The Intrachain Server should be installed on every node in the intragroup environment in order to create a private blockchain network. In general, the intragroup version of the blockchain keeps all the advantages of a publicly distributed secure storage with no center of transaction confirmation. However, when compared with a public version, the intragroup version of a blockchain has certain advan- tages:
- When blockchain components are not connected with public nodes, the risk of hacker attacks is reduced. Furthermore, the rate of gas amount and gas for every transaction can be determined exibly since it is not dependent on the market’s actual prices.
- AND: The Intrachain system operates with two types of data: transaction data and smart con- tracts stored on the decentralized blockchain (on every node in the network). Transaction details and mapping data (wallets addresses, payment details and more), however, are securely stored only on the company-owned Intrachain Server. This data will not be dis- tributed over the network. The design of this solution is simple, but very secure, balancing out decentralized data and safe storage of sensitive company information.
In next week’s blog we will wrap up our Token Sale and provide answers to the question “How far have we come?”. Stay tuned!
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