Enterprises and industry consortia building applications using industry-standard development environments or permissioned blockchain and distributed ledger frameworks, such as Hyperledger Fabric or R3 Corda, gain the benefits of privacy, low cost, and flexibility of development. But when used standalone, these applications and their associated networks remain siloed from one another, require complex and centralized configuration to achieve transaction ordering, and lack the fundamental element of public trust that is central to Web 3.0.
The Hedera Consensus Service (HCS) acts as a trust layer for any application or permissioned network and allows for the creation of an immutable and verifiable log of messages. Application messages are submitted to the Hedera network for consensus, given a trusted timestamp, and fairly ordered. Use HCS to track assets across a supply chain, create auditable logs of events in an advertising platform, or even use it as a decentralized ordering service.