Secure BIX™ Ledger
Secure, Distributed Ledger for Blockchain Applications
Peer-to-peer transactions without miners or blocks
Smart Contracts functionality built-in Ledger code
We developed BIX Ledger to address the inherent weaknesses of the existing distributed ledgers such as Bitcoin-based Blockchain, Ethereum, or commercial ledger implementations like RippleNet. BIX Ledger is the only operational blockchain with true peer-to-peer transactions that are secure, instantenous, and immutable – all without the need for third-party miners or packaging in blocks.
- Secure Ledger Protocols and Global Infrastructure
- Immutable Records without Blocks, without Hash Chaining, without Miners
- No Creation/Validation Delays, no Need for Trusted Third Parties
- Secure Hybrid (Permissioned and Unpermissioned) Ledger
- Interoperable With other Blockchains
Problems with existing Blockchains
The blockchain/distributed ledger technology holds significant promise in transforming the economy. The existing blockchain solutions, however, fall short on delivering on the true promise of Blockchain. This is where the BIX Ledger comes in – it’s design is significantly different from the current mainstream alternatives.
01. They are not truly peer-to-peer distributed ledgers
Reliance on exchanges to perform transactions, or on miners or trusted nodes to validate transactions means these blockchains are not true P2P platforms. When conducting a Bitcoin or Ethereum transactions, you are sending it to the global ledger, rather than to a specific person. BIX Ledger is truly peer-to-peer distributed ledger with no central authority or centralized validation.
02. Vulnerable to hacking and theft of wallets and private keys
The centralized nature of exchanges, reliance on miners or trusted nodes also exposes the security weak spots, as evidenced by numerous Bitcoin and Ethereum hacks. BIX Ledger “triple-helix” security solves these security concerns. Also, BIX Ledger private keys are securely stored (shredded) thus making them impossible to steal.
03. High Transaction Costs - both in monetary and energy terms
With increased use of Bitcoin and Ethereum blockchains, the cost to validate transaction increases. The energy consumed in Bitcoin mining is enormous. BIX Ledger, on the other hand, uses virtually no energy to validate transactions as there are no miners involved.
04. Issues with scaling and growth
The more popular blockchain becomes, the longer the chains – which causes longer transaction validation times. The current transaction delays with popular blockchains make these crypto currencies unusable for many use-cases. BIX Ledger transactions are truly peer-to-peer, making it infinitely scalable. Transactions between various members are completely independent and do not go through any centralized infrastructure which could potentially present a performance bottleneck.
05. Ledger rollbacks prove existing blockchains are not an immutable record
Ledger rollbacks are used to solve penetrations and hacking. After a hacking attack, the ledgers are rolled back by creating hard forks. This effectively proves that these blockchains are not an immutable archive of all transactions. BIX Ledger is a true immutable record where rollbacks are not allowed.
BIX Ledger Features
True P2P - No Need for Third Party Validators
Transactions in BIX Ledger are peer-to-peer and validated without the need for miners or independent trusted nodes. Any two members of the BIX Ledger conduct secure transactions which settle instantly.
The Most Secure Distributed Ledger
Strong security is the most differentiating feature of the BIX Ledger. The security of the members is provided by BIX Identity Management System. BIX Ledger also manages BIX Certificates - a cryptographically encapsulated objects which provide binding and validation of public keys and transactions. Learn more about BIX Ledger's security features.
Interoperability with other Blockchains
BIX Ledger’s architecture, protocols, and modular design enable interoperability with other ledgers. We are interoperable with the Bitcoin blockchain, and we are planning to be interoperable with other ledgers.
Smart Contracts Support Built-In Ledger Code
BIX Ledger supports execution of Smart Contracts on its blockchain. Unlike other ledgers, BIX Ledger smart contracts implementation is secure and reliable, as it is built into the code of ledger servers. BIX Ledger’s Smart Contracts support complex multi-party, multi-documents, and multi-step applications with protocols for resolution of business conflicts.
Secure Archive of Immutable encrypted Records
BIX Ledger ensures protection and integrity of ledger objects with strong cryptographic algorithms. The records are immutable and irreversible, making BIX Ledger an ideal validation infrastructure.
Comparison of BIX Ledger with other Ledgers
Validating Transactions without Miners or Blocks
The Identities and Certificates distributed by BIX Ledger are used to validate peer-to-peer transactions between members. The parties involved in a transaction use their BIX Identities to verify and confirm that the counterparty in the transaction is the intended recipient.
The BIX Certificate verifies all digital signatures by the entities in the transaction and is used to extract the Ledger Server’s public key. The BIX Identities are used by parties to verify that the intended counter parties are participating in the transaction. BIX Identities are cryptographically encapsulated using strong encryption algorithms.
Finally, the public keys from BIX Certificates are used by senders to create digital envelopes of transactions which can be received only by the authorized recipients. The effect is a secure, reliable peer-to-peer transactions environment without third parties.
BIX Ledger Brochure
Download the BIX Ledger marketing brochure.
BIX Ledger White Paper
BIX Ledger White Paper outlining the design principles of the platform.
Analysis of BIX Ledger Security Protocols and Cryptography.
Secure Blockchain supporting Customer Applications
BIX Ledger is operational and available for enterprise deployments where security of the distributed ledger is paramount. Development teams of customers/partners can develop their applications using resources of the BIX Ledger. Contact us for information for developers. Below are some examples of applications in development using BIX Ledger technology.
- Client: A European Venture Fund
Project: Uses BIX Ledger Blockchain to track assets tokens for the fund investments
- Client: A technology company in Gibraltar
Project: Provides secure identities and protection of users’ personal data by putting it on BIX Ledger
- Client: US Financial Services company
Project: Uses BIX Ledger for deployment of trading and investment platform
- Client: A US-based payments company
Project: Uses BIX Ledger to manage payment tokens with consumers for donations and remittance
- Client: A European secure email provider
Project: Provides secure Identities and certificates to users with BIX Ledger security infrastructure
- Client: A European company managing drug clinical trials enrollment
Project: Will use BIX Ledger to provide GDPR to members
- Client: A US Blockchain-based company
Project: Uses BIX Ledger to provide security for their loyalty tokens
- Client: An Asian FinTech company
Project: Uses BIX Ledger to establish blockchain-based secure assets settlement platform
- Client: A European Financial Provider
Project: Uses BIX Ledger to validate micro payments for their m-tethering platform
- Client: A European Travel Services provider
Project: Uses BIX Ledger ledger for their hotel booking, payments and loyalty rewards program