Hyperledger Intro - Reading Assignment

Blockchain Business Course
#362

  1. Hyperledger Fabric

  2. 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.

  1. Java, Go and Node.js

  2. The ability for platforms to be more effectively customized to fit particular use cases and trust models.

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#363

What started the large interest in permissioned blockchain technologies such as Hyperledger?
The popularity of Bitcoin, Ethereum and other derivative technologies. Business were interested in the underlying technology of the blockchain.

Why are the popular public blockchains not suitable for business use cases?
Poor performance, Transparency, Know-Your-Customer (KYC) and Anti-Money Laundering (AML) regulations cannot be followed such like in private blockchains

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

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

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#364

Reading Assignment : Hyperledger Intro (Answers):

  1. Bitcoin and The Blockchain innovation.
  2. Because of trust requirements , (KYC & AML) requirements by regulation.
  3. Java, Node.js , GO
    4.Enables the platform to be more effectively customized to fit particular use cases and trust.
#365
  1. What started the large interest in permissioned blockchain technologies such as Hyperledger?

When the popularity of permisissionless blockchains grew, like Bitcoin and Ethereum, the private sector took notice and started to take interest and see how they could apply the underlying technology, the blockchain, distributed ledger and distributed application platform to more innovative enterprise use cases.

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

There are many factors that a enterprise have to consider when creating their blockchain that permissionless blockchains can’t deliver, like privacy/confidentiality of transactions and data, high transaction throughput, low latency of transaction confirmations, identifiable participants and they also want to control the network.

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

Go & Node.js, while there are plans to support other popular languages, like Java in the future.

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

Depending on the nature of the organization, the modular architecture of the blockchain can be more effectively tailored to fit particular use-cases and trust-models to meet the needs of the individual organization.

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#366
  1. Mainly to be able to identify (or trace) the entity on the blockchain and it is permissioned.
    • participants of the network must be identifiable.
    • there is no privacy or confidentiality of data or transactions
    • networks are permission less
    • slower transaction performance and confirmation
    • open governance
  3. Java, Go and NodeJS
  4. Modular programs can easily be added to the protocol to facilitate customized consensus code to fit specific use cases.
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#367

1.)
Business were interested in using the underlying technology or blockchain, however , many enterprise use cases require performance characters that the permission less blockchain technologies are unable ( presently) to deliver.

2.)
-Everything is transparent - there is no privacy for sensitive/confidential data.
-Networks are permission less with identifies anonymous , tense not suitable for business motive.
-Slower transactions performance and confirmation.
3.)
Java
Go
Node.Js

4.)
Enables the platform to be more effectively customised to fit particular use cases and trust models.

1 Like
#368

  1. What started the large interest in permissioned blockchain technologies such as Hyperledger?
    Business wanting to apply the underlying Blockchain technology such as distributed ledger and distributed application platform.

  2. Why are the popular public blockchains not suitable for business use cases?
    Business requires performance characteristics that a permission less blockchain cannot deliver such as:

  • identity is a hard requirement for KYC & avoid AML.
  • networks need to be permission.
  • high transaction throughput.
  • low latency for transaction confirmation.
  • Privacy & Confidentiality.

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

  2. What does it mean to have support for “pluggable consensus protocols”?
    Enables a platform to be effectively customised to fit Business use cases.
    Also to leverage protocols that do not need a native cryptocurrency for incentives.

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#369
  1. Business use cases that required a blockchain solution without the permission less element.
  2. Businesses need the following: Participants need to be identifiable, Networks need to be permissioned, High transaction throughput performance, Low latency of transaction confirmation, Privacy & confidentiality. This cannot be provided by public blockchains.
  3. Java, Go & Node.js
  4. This enables the platform to be more customisation to fit particular use cases and trust models.
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#370

  1. What started the large interest in permissioned blockchain technologies such as Hyperledger?
    Buisnesses that wanted to use blockchain technology

  2. Why are the popular public blockchains not suitable for business use cases?
    Most companies need a private, permissioned, cost efficient, trusted, easy to integrate and compliant with rules and regulations solution

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

  4. What does it mean to have support for “pluggable consensus protocols”?
    It allows for the platform to be effectively customised to fit use-cases and trust models

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#371

  1. bitcoin, ethereum etc. sparked a need for enterprise. In these enterprise enviroments a need exists for a permissioned blockchain.

  2. serveral factors, most namly the KYC element of enterprises coupled with the need for fast executions and verified nodes.

  3. Hyperledger fabric is compatable with more enterprise standard programming languages. Such that there is no need for re-training for certification in new standards/languages.

  4. 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.

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#372

  1. Blockchain technology lead by enterprise companies had sought to solve a protocol where they could manage performance and characteristics unlike permissionless protocols to need the needs of their business structures.

  2. Public blockchains with many positive aspects may not suit business due to their permissionless access to the network combined with confidentiality & privacy of data or transactions. Slower transaction performance due to confirmations, combined with open governance on decisions made.

  3. Java, Go, node.js

  4. This enables the platform to customise multiple ordering service supports to fit a particular use cases and trust models.

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#373

  1. What started the large interest in permissioned blockchain technologies such as Hyperledger?
    Enterprise adoption for blockchain technology , that allows blockchain transaction transparency , decentralization and interoperability/integrations between different companies.

  2. Why are the popular public blockchains not suitable for business use cases?
    Because:
    1- they are fully opened and anonymous -> corporate data cannot be shared with anyone on internet si they need to know who participate on the network
    2- They are slow , since network is huge + PoW consensus algorithm makes the network slow , so corporate business usually need high performance
    3- Different corporate use cases need flexibility and modularity , so that they can adapt authentication and consensus algorithm to their needs

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

  4. What does it mean to have support for “pluggable consensus protocols”?
    It means that depending on the use cases different consensus protocols can be use on the network.

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#374
  1. Enterprises need to restrict permissions on the network based on the identity of the user which are not immediately available on public blockchains.
  2. These blockchains are public, open to anyone and participants can interact anonymously. In business use cases, the transactions could require privacy, identification of users and restriction of access to a specific set of users. These requirements are not met in public blockchains.
  3. Java, Go and Node.js
  4. You can choose your consensus protocols so that it is more effectively customized to fit particular use cases and trust models.
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#375

What started the large interest in permissioned blockchain technologies such as Hyperledger?
A market developed for private blockchain usage because of the interest in Bitcoin and related projects

Why are the popular public blockchains not suitable for business use cases?
ï»żThe business use case requires participants to be identified, have permission to join, high transaction throughput, low latency and privacy. Public blockchains don’t offer this.

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

What does it mean to have support for “pluggable consensus protocols”?
It means Hyperledger is easily customized to different use cases

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#376
  • 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

See al above

  • Java
  • Go
  • node.js

Pluggable consensus protocols enable the platform to be more effectively customized to fit particular use cases and trust models.

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#377

  1. As the popularity of Bitcoin, Ethereum and their derivatives grew, businesses were stimulated to study, innovate and potentially integrate such new technologies into their businesses.

  2. In most businesses, due to the law requirements or just for the fact to attempt to keep a good historical record and/or image of the business, permissionless blockchain technologies are unable to deliver the following common requirements (e.g. to meet KYC and AML regulations):

-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

In summary, hyperledger blockchain was tailor made for enterprise use.

  1. Java, Go and Node.js.

  2. It enables the platform to be more effectively customized to fit particular use cases and trust models. This can facilitate integration and potentially lower the initial costs for an enterprise because it might safe the need of development to adapt to new technologies and hire staff with specific knowledge instead of using its existing staff/resources.

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#378
  1. They have a performance that public blockchain cannot offer. These technologies can also be constructed to meet the enterprise context, also participants can be predetermined.
  2. Companies require specific functionalities. Members of a company blockchain already have some predetermined trust, identity is known and companies want to keep a certain level of confidentiality. Also a network can be kept at a certain size which enables to maintain low costs and transactions can be fast enough to meet company’s requirement.
  3. Java, Go, Node.js
  4. It means that the Hyperledger can be customized for a specific use.
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#379
  1. BTC, ETH and dirrivatives technology created a new wave of enterprise.
  2. It doesn’t meet the needs of enterprise such as the following: * articipants 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
  4. You have the ability to change and update protocols. efficent.
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#380
  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?
    Enterprise use cases require performance characteristics that the permissionless blockchain technologies are unable (presently) to deliver.
    • 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. 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”?
    Enables a platform to be more effectively customized to fit particular use cases and trust models.
1 Like
#381
  1. Because of their usefulness for enterprise/business purposes. They’re also flexible and easy to integrate into an existing enterprise I.T. structure.
  2. Because enterprises need to be permissions because there is a level of confidentiality needed, so only those who are involved in the operating of the enterprise and access the ledger. Also, there easily integrated and updated/customizable.
  3. General-purpose programming languages such as Java, Go and Node.js
  4. It allows for the platform to me more customizable for many use cases and trust models.
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