Hyperledger Intro - Reading Assignment

Blockchain Business Course
#222
  1. There is proprietary and confidential data that companies would not want to store on a public and verifiable blockchain network, hence a private blockchain where such information could be kept under wraps
    2.Same as in 1, but also the speed of transactions/consensus is not suitable for a business environment. Where in a public blockchain the cryptocurrency is part of the incentive to reach concensus and as such trust there is no such need on a private blockchain
  2. Hyperledger fabric supports GO and Node.js
    4.Pluggable consensus protocols means that the consensus can reached by interaction with external systems, one of the advantages of fabric as a tool for the business environment, using pre-existing modules already used in the business sphere
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#223

Excellent answers sir, well documented! Please keep them like that :muscle:

Carlos Z.

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#224

  1. What started the large interest in permissioned blockchain technologies such as Hyperledger?
    The use case of blockchain for businesses.

  2. Why are the popular public blockchains not suitable for business use cases?
    Public blockchains are open to anyone of the public to participate in and read, this would not be suitable for businesses as they would not want unrelated parties to be able to see all their transactions. They need to be able to secure their blockchain so that only those with permission have access and they need to be able to give different levels of access to different individuals within the company depending on whether someone should be able to create transactions, read only or both.

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

  4. What does it mean to have support for “pluggable consensus protocols”?
    It enables the company to choose a consensus protocol depending on how trustless the blockchain needs to be. For example if the blockchain is only for use within a company, a Crash Fault Tolerant consensus protocol might be sufficient for securing the network and would also improve performance; whereas if the blockchain needs to be integrated with third parties e.g. suppliers, then a Byzantine Fault Tolerant protocol would be more appropriate

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#225

  1. What started the large interest in permissioned blockchain technologies such as Hyperledger was the growth in popularity of Bitcoin and Ethereum, and the highlighting of their limitations for business.

  2. Popular public blockchains are not suitable for business use cases because; a) they don’t adhere to “Know Your Customer” and “Anti Money Laundering” regulations, b) they are too anonymous, c) they are permissionless, d) the latency (the term used to indicate any kind of delay that happens in data communication over a network) of transaction confirmations is too high, and e) they have too little confidentiality.

  3. The programming languages that can be used to write smart contracts on Hyperledger Fabric are; Node.js, Java and Go.

  4. What it means to have support for “pluggable consensus protocols” is that the consensus protocols can be selected and de-selected to suit particular uses and situations when needed.

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#226

Excellent answers sir, well documented! Please keep them like that :muscle:

Carlos Z.

#227

1
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
many enterprise use cases require performance characteristics that the permissionless blockchain technologies are unable (presently)
to deliver. In addition, in many use cases, the identity of the participants is a hard requirement,
such as in the case of financial transactions where Know-Your-Customer (KYC) and Anti-Money Laundering (AML) regulations must be followed
For enterprise use, we need to consider the following requirements:

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

3
Java, Go and Node.js, rather than constrained domain-specific languages (DSL)

4
they enable the platform to be more effectively customized to fit particular use cases and tru

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#228
  1. Interest in blockchain technology, but public blockchain technology not being suitable for enterprise use
  2. Participants need to be identified, networks permissioned, high transaction throughput, low latency of transactions, privacy and confidentiality of business transaction data
  3. Java, Go, Node.js
  4. Consensus protocols can be customized to meet performance needs
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#229
  1. What started the large interest in permissioned blockchain technologies such as Hyperledger?
    Corporations became aware of blockchains through public blockchains but needed blockchains with full control for sensitive operations.
  2. Why are the popular public blockchains not suitable for business use cases?
    Public blockchains are too slow and it is hard to hide sensitive information.
  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”?
    It means developers are able to make the trade off for higher speed but less consensus vs more consensus at slower speed.
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#230
  1. What started the large interest in permissioned blockchain technologies such as Hyperledger?
    –BTC and ETH
  2. Why are the popular public blockchains not suitable for business use cases?
    -identification
  • permission
  • performance
  • latency
  • privacy
  1. What programming languages can be used to write smart contracts on Hyperledger Fabric?
    Java Go and Node.js
  2. What does it mean to have support for “pluggable consensus protocols”?
    Easy customization
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#231

  1. What started the large interest in permissioned blockchain technologies such as Hyperledger?
    Popular permissionless blockchains like bitcoin and Etherium drew interest to the idea and merits of blockchain technology.

  2. Why are the popular public blockchains not suitable for business use cases?
    Permissionless Blockchains are too slow to implement changes to the base protocol as you need 50% + 1 of the participating network to agree. Also fully transparent blockchains l will not work for some business models who require a certain amount of privacy to retain a competitive edge. Some businesses need to comply with KYC or AML laws and this can not be achieved where total anonymity is assured like in the case of permissionless blockchains.

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

  4. What does it mean to have support for “pluggable consensus protocols”?
    Pluggable consensus protocol are code libraries that enable certain functions, so when creating a hyperledger blockchain for your company you can choose which you want to use depending on your companies needs.

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#232

  1. What started the large interest in permissioned blockchain technologies such as Hyperledger?
    Growing popularity in public or permissionless blockchains, such as Bitcoin & Ethereum, caused an interest in how to apply the underlying technology for enterprise use.

  2. Why are the popular public blockchains not suitable for business use cases?
    Popular business use cases for blockchain tech such as easily identified users, permissioned users, high tx throughput performance, and confidentiality of txs are not available on popular public blockchains as of today.

  3. What programming languages can be used to write smart contracts on Hyperledger Fabric?
    General purpose programming languages such as Java, Go and Node.js.

  4. What does it mean to have support for “pluggable consensus protocols”?
    It means you are able to leverage different protocols to customize your business needs.

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#233

What started the large interest in permissioned blockchain technologies such as Hyperledger?
When the permissionless blockchain technologies are unable to deliver the identity of the participants, financial transactions where Know-Your-Customer (KYC) and where Anti-Money Laundering (AML) regulations must be followed a interest in permissioned blockchain started.
Why are the popular public blockchains not suitable for business use cases?

Se the answer on the question above.

What programming languages can be used to write smart contracts on Hyperledger Fabric?
NodeJS, Java and Go.

What does it mean to have support for “pluggable consensus protocols”?
Pluggable consensus protocols enable the platform to be more effectively customized to fit particular use cases and trust models

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#234

  1. Businesses were seeing the benefits of blockchain but didn’t liked some of the properties of permissionless blockchains. Companies and governments like to have the power and control over things.

  2. Several issues with permissionless:

  • scalability: key issue with every public permissionless blockchain. speed of transaction in case of high volume must remain high
  • privacy: many business information/transactions are confidential
  • identity: in a business you want to know who is behind a transaction or any kind of action

  1. Node.js, Java

  2. It means that Hyperledger Fabrics has a modular structure and that any consensus protocol can be used and “plugged in”, based on the needs of the user/business

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#235

  1. What started the large interest in permissioned blockchain technologies such as Hyperledger?
    The popularity of Bitcoin. So enterprises got interested in blockchain technologies.

  2. Why are the popular public blockchains not suitable for business use cases?
    As they have to consider the following:

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

  2. 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.

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#236

1)The large interest in permissioned blockchain technologies like Hyperledger started because large enterprises wanted to use the benefits of the blockchain but in a way that was private, customizable to their specific use cases, and modular/configurable allowing innovation, versatility, and optimization for a broad range of industry use cases like banking, finance, insurance, healthcare, HR, supply chain, digital music delivery, etc.

2)Popular blockchains like BTC and ETH are not suitable for business use cases because they thrive on transparency that businesses do not necessarily benefit from, also businesses require another level of participant ID verification and performance that permissionless blockchain technologies do not yet provide.

Businesses need participants to be identified/identifiable; networks (permissioned) where only certain folks have access; the ability to use more universally known programing languages (Java, Go, and Node.js) rather than constrained domain-specific languages (DSL); faster data transfers and transaction confirmations; and more privacy to protect intellectual property and to stay competitive. Therefore, hyper ledger fabric is a better alternative to popular permissioned
blockchain technologies.

3)" Fabric is the first distributed ledger platform to support smart contracts authored in general-purpose programming languages such as Java, Go and Node.js, rather than constrained domain-specific languages (DSL)."

4)Support for "pluggable consensus protocols means, “enable the platform to be more effectively customized to fit particular use cases and trust models.”

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#237

Excellent answers sir, well documented! Please keep them like that :muscle:

Carlos Z.

#238

  1. What started the large interest in permissioned blockchain technologies such as Hyperledger?
    performance characteristics that public BC’s can not give
    identity of the participants due to KYC and AML regulations

  2. Why are the popular public blockchains not suitable for business use cases?
    Does note have privacy and confidentiality
    not as efficient as PVT block chains
    does not have proper governance framework

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

  4. What does it mean to have support for “pluggable consensus protocols”?
    can customize the block chain to their needs.

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#239

  1. What started the large interest in permissioned 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?
    Bitcoin and Etherium.

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

Fabric is the first distributed ledger platform to support “smart contracts authored in general-purpose programming languages*” such as Java, Go and Node.js, rather than constrained domain-specific languages (DSL). .

  1. 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. For instance, when deployed within a single enterprise, or operated by a trusted authority, fully byzantine fault tolerant consensus might be considered unnecessary and an excessive drag on performance and throughput. In situations such as that, a crash fault-tolerant (CFT) consensus protocol might be more than adequate whereas, in a multi-party, decentralized use case, a more traditional byzantine fault tolerant (BFT) consensus protocol might be required.

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#240

/* Wow that was quite a heavy read! haha */

  1. Need from companies to know the other nodes (increased transparency), to have faster transactions (increased efficiency), and to ultimately have more privacy and control (you can’t change/ alter the ethereum code!).
  2. Not suitable because they are permisionless (i.e. no KYC or AML) thus companies struggle with compliance issues + they are slower due to their concensus algorithms (POW / POS).
  3. Can use NodeJS or Go.
  4. It means we can use either the Byzantine Fault-Tolerant or Crash Fault-Tolerant ordering system depending on which one we prefer (the decision would be based on the tradeoff between efficiency and security from what I understand). The Fabric system can have either of these or even both!
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#241

1 Many enterprise use cases require performance characteristics that the permissionless blockchain technologies are unable (presently) to deliver. In addition, in many use cases, the identity of the participants is a hard requirement, such as in the case of financial transactions where Know-Your-Customer (KYC) and Anti-Money Laundering (AML) regulations must be followed.
2Absence of control and security
3Java, Go and Node.js
4Enable the platform to be more effectively customized to fit particular use cases and trust models

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