Introducing transactions

Our journey so far has involved understanding the fundamental nature of a business network—that it is comprised of participants involved in the meaningful exchange of assets. Now, there's a big concept that underpins a business network, related to the fact that everything, everywhere is constantly changing. The movement of assets between participants involves change. The transfer of value involves change. External forces act on assets and participants forcing them to change or initiate change.

In this section, we formalize the concept of change and discuss in some depth the idea of a transaction. A transaction captures how a system and a component within it change. We're going to see how a blockchain introduces a new kind of transaction—a multi-party transaction. Understanding the nature of these transactions will give you a deep insight into what a business network is and why a blockchain like Hyperledger Fabric is so...