Blockchain — the distributed ledger system — promises near real-time updates of transactions between remote parties for trustworthy, impenetrable peer-to-peer networks, eliminating the need (and expense) of intermediaries. Unfortunately, realizing that promise has proved decidedly difficult. However, Jans Aasman, CEO at Franz, believes that that day will soon come, courtesy Directed Acyclic Graphs (DAG).
Blockchain has struggled with issues of scale primarily because of its linear nature. Consequently, users have experienced inordinate delays verifying transactions, resulting in unwieldy fees and deflated expectations. However, this can be offset by the non-linear approach offered by DAGs, which ensure that transactions are quickly validated in large blockchain networks.
Acyclic semantic graphs expedite the validation process by requiring validation from only two other transactions to ensure the trust of the first to the present one. Hence, by deploying multi-master acyclical semantic graph databases, parties in decentralized locations can readily verify transactions in which the latest contains the entire history of all parties. Further, the decentralized databases are synced together to describe all facets of a smart contract. In addition, when these semantic graphs are deployed in private settings, trust breaches can be readily seen.
The foundation of these acyclic semantic graph databases is the triples describing the various transactions or contracts they support. Therefore, even though these multi-master databases are connected around the world, the information is controlled according to the policies of an enterprise as dictated by its governance or security protocols. Using triple attributes to control access to transactions or smart contracts enables a much more fine-tuned, yet flexible approach to permissions than other permission mechanisms.
The use of semantic standards is another advantage. Uniform Resource Identifiers (URIs), which consist of a string of characters used to identify a computer resource, are the basis of semantic standards. In addition, they are the identifiers of the most widely populated and interoperable system of data: the World Wide Web. The URIs allows partners to readily lookup product types and descriptions and contribute to understanding their lineage. Thus, the semantic standards facilitate decentralized, trustworthy peer-to-peer networks with DAGs.
In sum, multi-master acyclic semantic graphs extend the utility of blockchain by accelerating the validation process while delivering granular permissions with triple-attributes and interoperability via semantic standards.
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