Hyperledger Intro - Reading Assignment

Blockchain Business Course
#462

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.)

  • Bad PR
  • More problems with Rules and Regulations
  • Less effective
  • Harder to integrate
  • Not coast effektiv
  • Not private
  • No control

3.)
Node.JS, Go, Java

4.)
It enables the platform to be more effectively customized to fit particular use cases and trust models.

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#463

1- Businesses are interested in blockchain technology, but the identity of the participants in a transaction is a big requirement. So hyperledger is a way to offer that service to companies.

2- They are not suitable for business because there isn’t privacy of the data, everyone can use the network, the transactions are slower.

3- Java, Go, node.js

4- This means that the platform can be customizable to fit particular use cases and trust models, being more effectively

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#464
  1. Identifyable users, the possibility of having a couple of trusted central nodes that verify transactions. Thus less memory, faster tx’s, … There’s more certainty of how to regulate things.
  2. Non-identifyable users, not easy to set up, every node needs a copy of the ledger. Less regulatory and environmentally friendly.
  3. Node.js, Go, Java
  4. You can deploy your own consensus algorithm.
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#465
  1. What started the large interest in permissioned blockchain technologies such as Hyperledger? Many company use cases require performance characteristics that the permissionless blockchain technology is unable to deliver, i.e. identity of participants, financial transactions, and anti money laundering regulations.
  2. Why are the popular public blockchains not suitable for business use cases? Participants must be identified, 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? Go, Node.js, and Java
  4. What does it mean to have support for “pluggable consensus protocols”? Consensus is modular, implementation can be tailored to the trust assumption of a particular deployment or solution.
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#466
  • What started the large interest in permissioned blockchain technologies such as Hyperledger?
    Business were interested in the underlying technology of the blockchain, however, many enterprise use cases require performance characteristics that the permissionless blockchain technologies are unable (presently) to deliver.
  • Why are the popular public blockchains not suitable for business use cases?
  • Everything is transparent - there is no privacy or confidentiality of data or transactions
  • Networks are permissionless
  • Slower transaction performance and confirmation
  • Open governance
  • What programming languages can be used to write smart contracts on Hyperledger Fabric?
    Java and go, node.js
  • What does it mean to have support for “pluggable consensus protocols”?
    enable the platform to be more effectively customized to fit particular use cases and trust models
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#467

  1. Business wanted participants to be identifiable and for transactions to be private. Furthermore, some business are required to follow Know-Your-Customer (KYC) or Anti-Money Laundering (AML) regulations.

  2. Popular public blockchains are not suitable for some business use cases because:

  • Private transactions are preferred, or required, in some business transactions;
  • Some businesses want to validate transactions before they are committed to public ledger;
  • Standard programming languages are compatible with Hyperledger, making it more suitable to existing structure;
  • Businesses may not want to deal in cryptocurrency to incentivize miners or fuel smart contract execution;
  • Businesses may want to avoid costly mining and rely on more traditional consensus protocols.

  1. Programming languages that can be used to write smart contracts on Hyperledger Fabric include: Java, Go, and Node,js.

  2. The modular architecture of Hyperledger Fabric permits diverse configuration. Pluggable consensus protocols allow customizable order transactions, using a trusted authority with CFT (Crash Fault Tolerance) consensus protocol, for instance, instead of performance demanding BFT (Byzantine Fault Tolerance.)

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#468
  1. What started the large interest in permissioned blockchain technologies such as Hyperledger?
    the technology behind a permissionless bloackchain, namely the distributed ledger and distributed application platform possibilities
  2. Why are the popular public blockchains not suitable for business use cases?
    they have no KYC and/or AML requirements in place, furthermore they are slow and expensive to maintain.
  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”?
    It enables 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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#469

  • What started the large interest in permissioned blockchain technologies such as Hyperledger?
    Mostly performance requirements and cost of operation. Also, a permissioned BC can be tailor made to fit the specific needs of an organization.

  • Why are the popular public blockchains not suitable for business use cases?
    For many reasons. First, they are huge and slow. They also cost more as operations require the use of a CC such as Eth. The data on a public BC is also public. The data is recorded on every node and we dont know who those nodes are.

  • What programming languages can be used to write smart contracts on Hyperledger Fabric?
    Go, JS.

  • What does it mean to have support for “pluggable consensus protocols”?
    We can enable or disable some functionnalities such as Bizantine Fault Tolerance, which is obviously not always relevant, especially for smaller BC.

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#470
  1. Permissionless blockchains are not suitable for corporate business cases and hyperledger provides permissioned blockchain.
  2. For business use cases it’s important that:
  • 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. It means that consensus protocol is not hard-wired into the ledger (like PoW in Bitcoin) but rather added as a plug-in and allows to chose between CFT and BFT consensus protocols.
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#471

1.What started the large interest in permissioned blockchain technologies such as Hyperledger?

Invention of first blockchain bitcoin and the alternative cryptocurrencies then attracted enterprises.

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

They are public, transparent, slow and not governed.

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

Java Script, Node.js, Go.

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

Platform can be more customizable to fit business needs.

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#472

1). The Bitcoin and Ethereum wide adoption started the Interest in technologies that would have the advantages of these new technologies in a more enterprise approach where KYC and AML can be added.

  1. That depends on the Buisness, however in most cases business need to be compliant with rules, they need to know the identity of who they are dealing with and the source of funds. Public blockchains are built on anonymity.

  2. Linux, Java, Go, Node.js, Solidity

  3. The consensus protocols of open public blockchains utilizes the whole blockchain to agree or disagree on the next block. In the Pluggable version of Fabric the consensus protocol is customized and specified to a particular area, so its a program that produces consensus.

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#473

1 to use KYC and AML for regulations, confidentiality and high performance trough transactions.
2. Networks are permissionless, and transparent which is not good in an ecosysteme where competitors need confidentiality for their businesses.
3 Go, Node.js, java
4. it enables the platform to be more effectively customized to fit particular use cases and trust models

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#474

  1. Many enterprise use cases require performance characteristics that the permissionless blockchain technologies are unable 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. Permissioned blockchains such as Hyperledger Fabric are, currently, more able to fill the enterprise use case.

  2. 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 nodeJS.

  4. Having support for pluggable consensus protocols enables the platform to be more effectively customized to fit particular use cases and trust models.

1 Like
#475

  1. As the popularity of Bitcoin and Etherium and a few other derevitive tech 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. 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.

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

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#476
  1. The growing popularity in Bitcoin and Eth.
  2. Businesses require more privacy for internal transactions.
  3. Go, Jsnode and Java
  4. The platform can be customized for specific use cases.
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#477
  1. For regulatory purposes, blockchain needed to implement features like KYC and anti-money laundering. Permissioned blockchain technologies were more suitable to be quickly implemented into the current financial system.
  2. Anonymity of users and privacy of data relating to business transactions. Also, there needed to be a high throughput for transactions that did not exist at the time.
  3. Go, node.JS. Does not require DSL
  4. This means that the consensus algorithm can be changed based on what is needed for the busines.
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#478

Reading Assignment: Hyperledger Intro.

  1. What started the large interest in permissioned blockchain technologies such as Hyperledger?
    With growing popularity of Bitcoin, Ethereum and a few other derivative technologies.
    It did’t deliver fully required performance characteristics, for enterprises, where 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.

  2. Why are the popular public blockchains not suitable for business use cases?
    For enterprise use, we need to consider the following requirements, that is hard to fulfill so far, with public 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. What programming languages can be used to write smart contracts on Hyperledger Fabric?
    Such as Java, Go and Node.js

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

2 Likes
#479
  • What started the large interest in permissioned blockchain technologies such as Hyperledger?

Growing popularity of Bitcoin, Ethereum, and other blockchains and their applications

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

They cannot meet the Enterprise needs:

  • 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

  • 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”?

The company or consortium can customize the consensus mechanism to fit the use case and trust needs.

1 Like
#480 
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. 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. 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).
4. 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. 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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#481

  1. The interest of enterprises to apply blockchain technology and customize it to their wants of knowing their customers’ and partners’ identity, speed of transaction processing, efficiency of resources, and privacy and confidentiality of the transactions and data pertaining to business transactions.

  2. Because businesses must follow strict know your customer (KYC) and Anti-Money Laundering (AML) regulations, which can not be done so using public blockchains as network participants’ identity is not clearly defined, and because of the strong latency of transaction confirmation occurring on these permissionless blockchain networks when businesses need as fast speeds of transaction processing as possible.

  3. Java, Go, and Node.js are some of the general-purpose programming languages Hyperledger Fabric supports for the creation of smart contracts on the network.

  4. The ability of the platform to be more effectively customized to fit particular use cases and trust models.

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