Hyperledger Intro - Reading Assignment

1
BTC and ETH popularity growth and its limitations, need for KYC and AML in certain cases

2
Requirements for business:

  • Participants must be identified/identifiable /KYC
  • Networks need to be permissioned
  • High transaction throughput performance
  • Low latency of transaction confirmation
  • Privacy and confidentiality of transactions and data is often necessary

3
Java, Go and Node.js

4
enables the platform to be more effectively customized to fit respective needs

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  1. What started the large interest in permissioned blockchain technologies such as Hyperledger?
  • Performance, privacy, user identification/screening, control over network and privacy over access to certain information
  1. Why are the popular public blockchains not suitable for business use cases?
    Business require participants to be identifiable, control over who has access to the network, high transaction performance

  2. What programming languages can be used to write smart contracts on Hyperledger Fabric?
    Java, Go, Node.js

  3. What does it mean to have support for “pluggable consensus protocols”?
    Modulatiy and ability to customise consensus protocols according to business needs

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1-What started the great interest in authorized blockchain technologies like Hyperledger?
Due to the popularity of Bitcoin, Ethereum and among others, interest in applying the underlying blockchain technology, distributed ledger and distributed application platform to more innovative business use cases also increased.

2-Why are the popular public blockchains not suitable for commercial use cases?
Because they put access to sensitive information at risk by allowing anyone to access the blockchain, in addition to the fact that decentralization removes performance from the network and many companies need high speed in response.

3-What programming languages ​​can be used to write smart contracts in Hyperledger Fabric?
Smart contracts can be written in languages ​​like Node.js or Go. In future updates they will include other popular languages ​​such as Java.

4-What does it mean to have support for “connectable consensus protocols”?
Hyperledger Fabric has the ability to logically connect different types of consensus according to the needs of the business use case. You can switch from CFT to BFT as needed.

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1 What started the large interest in permissioned blockchain technologies such as Hyperledger?
It is a way to use all the features of the blockchain in a controlled and regulated manner.

2 Why are the popular public blockchains not suitable for business use cases?
Because they currently lack scalability and inefficiency. They are also currently expensive to build and maintain.

3 What programming languages can be used to write smart contracts on Hyperledger Fabric?
java
Go
Node.js

4 What does it mean to have support for “pluggable consensus protocols”?
Implementations can be tailored to a specific solution due to a modular architecture approach.

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  1. The interest in permissioned blockchain technologies started with an interest in applying blockchain technology to enterprises. Businesses have different and specific requirements that are unavailable in public permissionless systems.
  2. Public blockchains can lack the performance, security, and participant identity features that are needed in most enterprise use cases.
  3. Node.js, Go, Java.
  4. The platform can accept modular programs containing consensus protocols as required to fulfill needs of specific use cases.
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1 Linux developers
2 Because, it not matching KYC and AML rules and there is no privacy.
3 Smart contracts can be programmed in GO, Python, Java and etc.
4 Enable the platform to be more effectively customized to fit particular use cases and trust models.

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  1. What started the large interest in permission blockchain technologies such as Hyperledger?
    • As the popularity of Bitcoin, Ethereum and a few other derivative technologies grew, interest in applying the underlying technology of the blockchain, distributed ledger and distributed application platform to more innovative enterprise use cases also grew
  2. Why are the popular public blockchains not suitable for business use cases?
  • Participants are too anonymous and must be identified/identifiable
  • Blockchains are permissionless where as enterprise blockchains networks need to be permissioned
  • Blockchain pps is too slow or enterprise which require High transaction throughput performance
  • Blockchains increase the latency where enterprise require low latency of transaction confirmation
  • Lack of privacy and confidentiality of transactions, pertaining to business transactions
  1. What programming languages can be used to write smart contracts on Hyperledger Fabric?

    • Go or Node.js, while there are plans to support other popular languages including Java in subsequent releases.
  2. What does it mean to have support for “pluggable consensus protocols”?

  • One of the most important of the platform’s differentiators is its support for pluggable consensus protocols that enable the platform to be more effectively customized to fit particular use cases and trust models.
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  1. The large interest in permissioned blockchain technologies such as Hyperledger started because distributed ledger technology can be beneficial for businesses, however, they require more privacy than is available on the public blockchains.
  2. The popular public blockchains are not suitable for business use cases because: participants must be identifiable, the systems need to process transactions faster with less friction, and privacy and confidentiality is needed.
  3. Java, Go and Node.js are the programming languages that can be used to write smart contracts on Hyperledger Fabric.
  4. Support for “pluggable consensus protocols” means that a system can be customized to fit particular use cases and trust models.
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  1. The large interest in permissioned blockchain technologies such as Hyperledger was started by the fact enterprises need to know each participants, need faster blockchains and need more control on who has the permission to do which actions.

  2. The popular public blockchains are not suitable for business use cases, mainly because they are too slow (poor performances) and can be used anonymely (without KYC nor AML).

  3. To write smart contracts on Hyperledger Fabric we use the languages GO, Java, Node.js.

  4. The support for “pluggable consensus protocols” means that you can choose between several protocols as per you needs (customization).

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  1. The blockchain implementations of Bitcoin, Ethereum and many more projects have initially sparked the interest of innovative businesses. Although companies wanted to implement the blockchain technology into their existing databases, their special requirements made permissioned blockchains the logical choice.

  2. While improvements have been made and Ethereum has found some business use cases, public blockchains still aren’t widely adopted among companies. Due to KYC and AML requirements and a lot of other regulatory uncertainties, permissionless blockchains are considered too risky. It is expensive and difficult to have trade secrets and confidentiality on a public blockchain.

  3. Go, Javascript (node.js) and Java can be used for smart contract programming on Hyperledger Fabric.

  4. Pluggable consesus means that part of the transaction process can be customized. It is possible to have different consensus protocols for different smart contracts. In my understanding, this sounds similar to sidechains/different layers to a public blockchain.

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  1. The limitations of public blockchains and the need to have full control and ownership of blockchain projects/implementations started the hyperledger interest. It has a development community that has grown to over 35 organizations and nearly 200 developers since its earliest commits. Fabric has a highly modular and configurable architecture, enabling innovation, versatility and optimization for a broad range of industry use cases including banking, finance, insurance, healthcare, human resources, supply chain and even digital music delivery.
  2. Fabric can leverage consensus protocols that do not require a native cryptocurrency to incent costly mining or to fuel smart contract execution. Avoidance of a cryptocurrency reduces some significant risk/attack vectors, and absence of cryptographic mining operations means that the platform can be deployed with roughly the same operational cost as any other distributed system.
  3. Linux, Go or Node.js,
  4. The consensus layer of the blockchain can be defined and implemented by pre-defined packaged downloads. This enables the platform to be more effectively customized to fit a variety of use cases and trust models.
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  1. The large interest in permissioned blockchain technologies like Hyperledger came with the growing interest in permissionless blockchains like Bitcoin and Ethereum, and how blockchain technology could be adapted to better fit enterprise use case requirements.

  2. Popular blockchains are not suitable for business cases in some instances because they are permissionless (i.e. not controllable), can be slow/expensive, and do not provide the confidentiality needed for business.

  3. Hyperledger Fabric uses general purpose programming languages like Java and Node.js.

  4. Support for ‘pluggable consensus protocols’ provides the ability to customize which consensus protocol to use based on the requirements of the use case.

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  • It’s fast and open source and permissioned based DLT platform, It supports difrent types of smart contracts suitable for different types of enterprises.
  • Different business ned to follow different rules/laws such as KYC and AML.
  • Node.js, Go and Java.
  • Enable the platform to be more effectively customized to fit particular use cases and trust models. when deployed within a single enterprise, or operated by a trusted authority.
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  1. The interest from the original blockchain permissionless of an immutable transaction ledger, but for use in a business semi private enterprise environment, the need for a permissioned blockchain, Hyperledger being one example

  2. Most common public blockchains are crypto related, Bitcoin and Etherium, these are unsuitable for a business, which require more private control

  3. Hyperledger fabric languages used to write smart contracts include Java, Go and Node js

  4. ‘Pluggable consensus protocols’ means that the DLT enables the platform to be customized to fit the business use case and trust models

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  1. What started the large interest in permissioned blockchain technologies such as Hyperledger?
    Business where generally interested in the underlying blockchain technology. Such as tracability and immutability of transactions. The perceived issue with the public blockchains is also the promised strength of the permissioned blockchains:
  • Participants must be identified/identifiable
  • Networks need to be permissioned
  • High transaction throughput performance
  • Low latency of transaction confirmation
  • Privacy and confidentiality of transactions and data pertaining to business transactions
  1. Why are the popular public blockchains not suitable for business use cases?
  • Full transparency of transactions - public visible
  • Participants in the network are unknown and anonymous
  • Even encrypted data can be decrypted given enough time and effort
  • Lack of control over the chain
  • Slow performance
  1. What programming languages can be used to write smart contracts on Hyperledger Fabric?
    Currently supported:
  • Go
  • Node.js
    Planned:
  • Java
  1. What does it mean to have support for “pluggable consensus protocols”?
    The ability to chose the consensus best suited for the use case and being able to customize the chain. It can be chosen between trade off of better performance vs weaker consistency or stronger consistency vs lower performance.
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Hyperledger Intro - Reading Assignment

1. What started the large interest in permissioned blockchain technologies such as Hyperledger?
applying blockchain technologiy to enterprises where…

  • participants must be identified
  • Networks need to be permissioned
  • high transaction throughput performance
  • low latency of trancaction confirmation
  • privacy and confidentiallity of transaction and data pertaining to business transactions

2. Why are the popular public blockchains not suitable for business use cases?

  • participans can be anonym or at least pseudonym
  • they are permissionless
  • have a slow transaction performance

3. What programming languages can be used to write smart contracts on Hyperledger Fabric?

  • Java, Go, JavaScript

4. What does it mean to have support for “pluggable consensus protocols”?

  • Hyperledger fabric works with multiple consensus protocolls. You can choose that one which fits the best to for your usecase.
1 Like
  1. What started the large interest in permissioned blockchain technologies such as Hyperledger?
    The ability to know your customer (KYC). Businesses will be known to each. A governance model that is built off of what trust does exist between participants, such as a legal agreement or framework for handling disputes.
    No crypto currency required, no mining, less costs.
    Easier to implement.
  2. Why are the popular public blockchains not suitable for business use cases?
    Not flexible, too expensive to maintain, no KYC. Low latency of transaction confirmation. No facility to adapt to smart contracts.
  3. What programming languages can be used to write smart contracts on Hyperledger Fabric?
    Java, Go and Node.js
  4. What does it mean to have support for “pluggable consensus protocols”?
    Easier to implement, use of common programming languages. They enable the platform to be more effectively customized to fit particular use cases and trust models.
1 Like
  1. The large interest in permissioned blockchain technologies started as the popularity of Bitcoin, Ethereum and a few other derivative technologies grew.

  2. Tthe popular public blockchains not suitable for business use cases are Bitcoin, Etherum or Eos.

  3. Smart contracts on Hyperledger Fabric can be written in Java, Go, and Node.js.

  4. Having support for “pluggable consensus protocols” means ability to enable the platform to be more effectively customized to fit particular use cases and trust models.

2 Likes
  1. What started the large interest in permissioned blockchain technologies such as Hyperledger?
    Enterprises wanted to take advantage of the underlying technology, the distributed ledger and smart application. But needed abilities that public BCs did not support - e.g., KYC and AML.
  2. Why are the popular public blockchains not suitable for business use cases?
    Not scaleable, doesnt support KYC/AML, and is too transparent.
  3. What programming languages can be used to write smart contracts on Hyperledger Fabric?
    General purpose languages such as Java, Go, and Node.js
  4. What does it mean to have support for “pluggable consensus protocols”?
    Enterprises can choose which consensus protocol is most approriate for them. May not need one that is as decentralised or byzantine fault tolerant.
2 Likes
  1. What started the large interest in permissioned blockchain technologies such as Hyperledger?
    The need for more security and no need for mining
  2. Why are the popular public blockchains not suitable for business use cases?
    Privacy of transactions
    All participants must be identified
    Slower than private blockchain
  3. What programming languages can be used to write smart contracts on Hyperledger Fabric?
    Java, Go, Node.js
  4. What does it mean to have support for “pluggable consensus protocols”?
    Enables the platform to be more effectively customized to fit particular use cases and trust models.
2 Likes