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Corda

Corda is an open source blockchain project, designed for business from the start. Created in 2016 by the R3 consortium of financial institutions.

Key features

  • No unnecessary global sharing of data: only parties with a legitimate need to know can see the data within an agreement.
  • It choreographs workflow between firms without a central controller.
  • Corda achieves consensus at the level of individual deals between firms, not at the level of the system.
  • The design directly enables supervisory and regulatory observer nodes.
  • Transactions are validated by the parties to the transaction rather than a broader pool of unrelated validators.
  • A variety of consensus mechanisms are supported.
  • It records an explicit link between smart contract code and human-language legal documents.
  • It’s built on industry-standard tools.
  • There is has no native cryptocurrency.

Oracles

This is a new concept for me; it is basically an entity or organization that is an operator of Corda nodes. We are in a financial environment, so Oracles can provide information such interest rates, exchange rates or any other information that forms a component of a contract.

Oracles operate in a commercial manner that assures they can receive payment for their services.

Oracle providers can deploy their Oracle services into one interoperability zone and service all business networks within that zone.

Commercial offer or Opensource offer

If you want to compete in the payments word, you will better go to the commercial solution offered by R3 consortium.