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Needing a solution for businesses and enterprise that could be utilized in a way that certain companies or users would have centralized control over the data, or transactions that were taking place on a particular blockchain.
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Each business could have a certain use case or need, so using a public blockchain would be hard to regulate, make transparent, or enact specific changes to it.
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go and node.js
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It means that the blockchain can be effectively customized to fit particular use cases and trust models for a wide range of industries.
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- Business were interested in the blockchain technology but not in the decentralised way it operates. So permissioned blockchain technology like Hyperledger were created.
- public blockchain is not suitable for business use cases because it is completely transparent, the network is permissionless, it is ruled by open governance, it is slow in performance and it is always associated with mining (bad PR for environment) and cryptocurrency (as well bad PR in the perspective of the companies)
- Java, Go, Node.js - so the skill set is most probably already within the company
- means a not so strict concensus protocoll can be used (fitted to the companies use cases) - which increases the perfomance.
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- What started the large interest in permissioned blockchain technologies such as Hyperledger?
The interest in applying blockchain technology to enterprises who need to know customers identity ,high transaction throughput performance, low latency of transaction confirmation and privacy and confidentiality of transaction and data. - Why are the popular public blockchains not suitable for business use cases?
Because in many cases business need to keep identity anonymous and not give data to public review - What programming languages can be used to write smart contracts on Hyperledger Fabric?
Go, Node, JAVA - What does it mean to have support for âpluggable consensus protocolsâ?
means that algorythm of consensus can be changed based on what it is done.
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- What started the large interest in permissioned blockchain technologies such as Hyperledger?
The need of blockchain where peers / nodes are trusted and you know who they are e.g. KYC.
- Why are the popular public blockchains not suitable for business use cases?
Because data is available to the public that many businesses do not want.
- What programming languages can be used to write smart contracts on Hyperledger Fabric?
Any including Java and Node.js. Itâs not domain specific.
- What does it mean to have support for âpluggable consensus protocolsâ?
It means that the consensus protocol may change to adapt for different needs in the future.
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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. -
Why are the popular public blockchains not suitable for business use cases?
Privacy and confidentiality is the main concern when considering a public blockchains for business use.
Transaction speed and the confirmation of those transactions are required.
Being permissioned is another reason. -
What programming languages can be used to write smart contracts on Hyperledger Fabric?
Node.JS; Go; or Java -
What does it mean to have support for âpluggable consensus protocolsâ?
To be able to trade off
higher performance but weaker consensus/consistency
vs. stronger consensus/consistency but lower performance
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- Because businesses coudnât work on permissionless blockchain (they need some kind of control). Therefore permissioned blockchain was a way to go.
- Public blockchains lack privacy and centralization, which business needs.
- Node.JS, Java, Go
- That it is possible to customize for various use cases.
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- Permissionless blockchains started the interest. Although businesses could see the possibilities of using blockchain technology there was a need for many different use cases that could protect such things as identity confidentiality, KYC & AML regulations etc.
- Public blockchains do not currently provide complete control and compliance for business to protect themselves from privacy issues, security and lawsuits.
- Java, Go and Node.js
- It allows for a more customized platform that can be flexible towards many particular use cases and trust models.
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1. What started the large interest in permissioned blockchain technologies such as Hyperledger?
Blockchain is a great basis and finds many use cases in a variety of businesses. In a permissionless blockchain, anyone can join, add to, and participate in governance and decision making, while staying anonymous. The lack of control lead to the creation of permissioned blockchain technologies such as Hyperledger.
2. Why are the popular public blockchains not suitable for business use cases?
Public blockchains are not a good choice for businesses to use as there is no way to comply with certain requirements. Know-Your-Customer (KYC) and Anti-Money Laundering (AML) regulations must be followed, and that is impossible on a public ledger, which allows for private anonymous access.
Another issue is the decentralized governance of a public ledger, which is not an option for businesses, where centralization and more control is needed.
3. What programming languages can be used to write smart contracts on Hyperledger Fabric?
Java, Python, or other general-purpose programming languages.
4. What does it mean to have support for âpluggable consensus protocolsâ?
Pluggable consensus protocols enable the platform to be more effectively customized to fit specific use cases.
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Public Blockchain such as Ethereum or Bitcoin, but for businesses they need to have more control.
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Not all informations should be visible for everyone. And the members should be known, so as the governance.
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Java, Go and Node.js
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Enable to customize trust models
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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. -
Why are the popular public blockchains not suitable for business use cases?
Because there are many enterprise use cases require performance characteristics that the permissionless blockchain technologies are unable (presently) to deliver, like:
- 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
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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 âpluggable consensus protocolsâ?
It means that enable the platform to be more effectively customized to fit particular use cases and trust models.
2 Likes
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What started the large interest in permissioned blockchain technologies such as Hyperledger?
It all started once upon a time with a little experiment called Bitcoin. As Bitcoin grew and branched off into similar blockchains such as Ethereum, interest in blockchain technologies such as Hyperledger exploded. -
Why are the popular public blockchains not suitable for business use cases?
Business use cases often require privacy, security, permissioned access, and more. -
What programming languages can be used to write smart contracts on Hyperledger Fabric?
Smart contracts can be written in either Go or Node.js, while there are plans to support other popular languages including Java in subsequent releases. -
What does it mean to have support for âpluggable consensus protocolsâ?
pluggable consensus protocols allow Hyperledger to be more customizable to the needs/requirements of a business.
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1.- The rising popularity of cryptocurrencies, the technology these projects brought is really good, but enterprises wanted and still want to make certain modifications to it for personal interests.
2.- Most businesses like to keep things private, plus efficiency.
3.- Java, python.
4.- Adaptability to consensus algorithms.
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- The need for businesses to utilize blockchain technology but also allow for extra features like speed and transaction privacy.
- public blockchains are too slow right now and are to transparent for businesses needing more privacy.
- Node.js & Go.
- The ability to use different consensus protocols for different businesses and use cases. One consensus protocol might work for one business but not the other.
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As the world has begun to understand and adopt the notion of digital currencies such as Bitcoin, innovators, businesses, and governmental agencies have begun to take an interest in the core concepts and technologies that are the backbone of the blockchain industry. Expounding upon the Utilizing both the Ethereum Virtual Machine, and a layered capability for computational activity and execution in the form of smart contracts. The features of these developments have some important applications in the business world, and thus new and important developments are heavily underway.
In the case of the structure of the blockchains used for cryptocurrencies, many of the core features are less than acceptable under best use practices for business, and thus the need for private, permissioned blockchains has evolved. Primarily, the public nature of standard cryoto blockchain is not acceptable for doing business, as it brings many inherent risks. Let us also consider the consensus mechanisms utilized in standard public blockchains like Bitcoin. The level of fault tolerance needed for millions of people and computers around the world to make and validate transactions is not so prevalent within the business ecosystem. Indeed the need for all nodes to participate in the validation process is quite slow, cumbersome, and inefficient. Instead, new private blockchains with permissions can be deployed to conserve these valuable resources. Additionally, business transactions need to be relatively private for a variety of reasons, for example, preferred pricing for high volume purchasers. Also key to consider is the need to maintain data privacy by businesses who may be using, collecting and storing sensitive information about their customers, suppliers, etc.
With the dawn of newer technologies and applications such as IBMâs hyperledger, businesses can now deploy private permissioned blockchain applications which can be tailored to the individual businesses specific needsin order to streamline efficiency and improve the way they do business. In fact, hyperledger has now integrated standard programming languages like java, go, and node.js.into their smart contract ecosystem called chaincode. This reduces the need for language specific programmers and engineers to build, maintain, and improve their blockchain integrated systems.
On the subject of consensus mechanisms and protocols, note that Hyperledger Fabric is highly modular. This allows the individual businesses to architect a customized system that best suits their needs. Among the modularity, their is the concept of pluggable consensus protocols, which essentially allow the business use case to select from a variety of consensus mechanisms the one that works best for the particular case. Also note that consensus is removed from the set of peers that transact or validate the transactions, thus providing a layer of security from malintent by bad actors. Also of interest that different business processes and functions can utilize different consensus mechanisms within the same business. This is particularly useful in segregating the ordering service or services from the consensus process.
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- The large interest in permissioned blockchain technologies started as the popularity of Bitcoin, Ethereum and a few other derivative technologies grew.
- Tthe popular public blockchains not suitable for business use cases are Bitcoin, Etherum or Eos.
- Smart contracts on Hyperledger Fabric can be written in Java, Go, and Node.js.
- Having support for âpluggable consensus protocolsâ means ability to enable the platform to be more effectively customized to fit particular use cases and trust models.
2 Likes
excellent well though out responses! upload a photo to let us know who you are!
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I just did it, thx for reminding it to me.
Hey there! now you look like a nice smart trustworthy person!
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What started the large interest in permissioned blockchain technologies such as Hyperledger?
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 -
Why are the popular public blockchains not suitable for business use cases?
Because it's slow and the identity of the participants. -
What programming languages can be used to write smart contracts on Hyperledger Fabric?
Java, Go, node.js -
What does it mean to have support for âpluggable consensus protocolsâ?
It means 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?
The growing popularity of the underlaying technology of a permission less blockchain and the question if this can be applied for enterprise use
2. Why are the popular public blockchains not suitable for business use cases?
⢠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 âpluggable consensus protocolsâ?
Based on the needs of the business, a modular structure can be used and plugged in. Enables the platform to be more effectively customized to fit particular use cases and trust models
1 Like