Hyperledger Intro - Reading Assignment

Blockchain Business Course
#522
  1. Many companies are very interested in using blockchain applications in their business but the traditional permissionless blockchains did not support the needed customization of business blockchain applications.
  2. With a public blockchain anyone can create a public address and become a node validating transactions on the network. businesses need to be able to manage permission to their blockchain.
  3. Java, Go, and NodeJS
  4. Pluggable consensus protocols are modular and decoupled from the peers confirming transactions making it more customizable based on trust assumption in a specific application.
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#523

  1. What started the large interest in permissioned blockchain technologies such as Hyperledger? To provide a usecase for the blockchain technology in enterprise

  2. Why are the popular public blockchains not suitable for business use cases? Public blockchains do not have the characteristics that businesses need. Enterprises require:

  • Participants to be identifiable (KYC)
  • Networks to be permissioned
  • High transaction performance
  • Low time delay of transaction confirmation
  • Privacy and confidentiality of transactions and data

  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”? It means the platform can be customized based on the use case for the enterprise

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#524
  1. What started the large interest in permissioned blockchain technologies such as Hyperledger? To allow blockchain technologies to be implemented at an enterprise level.
  2. Why are the popular public blockchains not suitable for business use cases? KYC (know your customer) requirements, slow performance, too expensive to operate on, possibility of private data and trade secrets being revealed.
  3. What programming languages can be used to write smart contracts on Hyperledger Fabric? Java, Node.JS. Go.
  4. What does it mean to have support for “pluggable consensus protocols”? Different consenus models can be selected and added to that enterprises use based on the use-case and their prefered solution.
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#525
  1. What started the large interest in permissioned blockchain technologies such as Hyperledger?
  • The technology of Blockchain and distributed ledger started to attract more interest as the popularity of Bitcoin, Ethereum and other distributed technologies started to grow.
  1. Why are the popular public blockchains not suitable for business use cases?
  • Public permissionless blockchains like Bitcoin are not suitable for enterprise use cases because they are open for anyone to interact with anonymously.
  • For business use cases, it is important that privacy of data pertaining to business transactions is considered, also participants must be identifiable and so networks need to be permissioned.
  1. What programming languages can be used to write smart contracts on Hyperledger Fabric?
  • One of the main benefits of Hyperledger Fabric is that it is the first distributed ledger platform to support Smart contracts, written in general purpose languages like: Java, Node.js and Go. This means that most businesses have skills sets available to be able to interact with HF without having to learn domain-specific languages.
  1. What does it mean to have support for “pluggable consensus protocols”?
  • This is an important differentiator, and means that the protocols are flexible. An example of this is when deployed within a single enterprise, CFT (Crash fault tolerance) consensus protocol is considered sufficient, therefore supporting higher performance. On the other hand, if multi-parties and decentralized use case are involved, BFT (Byzantine fault tolerant) consensus protocol should be used, which can cause performance reduction.
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#526
  • What started the large interest in permissioned blockchain technologies such as Hyperledger?

It allows a consortium of entities to decide on all problems pertaining to how the network is created, its protocol and what users can do.

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

All members of the network have access to the same information via the ledger, making it easy for participants to verify and authenticate past transactions.

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

GO, NODE.js and JAVA is planned

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

Allows the platform to rely on well-established toolkits for CFT (Crash-Fault-Tolerant) or BFT (Byzantine-Fault-Tolerant) ordering.

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#527
  1. Interest in blockchain technology was initially created from bitcoin, and later by ethereum
  2. Different use cases have different requirements. Public blockchains allow anonymity while financial companies require KYC and AML compliance.
  3. Java, Go and Node.js
  4. Different consensus protocols can be leverages for different use cases, making HL more customizable and adaptable.
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#528
  1. Popularity of Public blockchains brought light to the technology behind them, being distributed ledger and distributed application platforms.
  2. Private businesses may need things like, Participants to be identified, Low latency of transitions, privacy and confidentiality of transactions and/or data of the transaction. All of which cannot be handled by popular Public blockchains.
  3. Java, Go, Node.js
  4. Pluggable consensus protocols allow for consensus models to be able to be substituted for others depending on the needs of the business. This allows for greater flexibility to different business models.
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#529
  1. What started the large interest in permissioned blockchain technologies such as Hyperledger?
    It all started when the interest in Bitcoin, Ethereum etc. started to grow and also when businesses started to search for a more private solution to permissionless blockchains.
  2. Why are the popular public blockchains not suitable for business use cases?
    Because businesses dont want to show all of their transactions publicly and furthermore are in need of a fast and efficient solution.
  3. What programming languages can be used to write smart contracts on Hyperledger Fabric?
    F.e Java or NodeJS.
  4. What does it mean to have support for “pluggable consensus protocols”?
    Different consensus models can be added to the system of a company based on the use case.
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#530
  1. Permissionless blockchains are not wee suited to be used in the enterprise.
  2. Because are not very efficient, because all the data is exposed.
  3. Go, JavaScript
  4. It means that the consensus protocol can be updated as needed.
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#531
  1. Applying the underlying technology of the blockchain, distributed ledger and distributed application platform to more innovative ‘enterprise’ use cases. Hyperledger Fabric has been ‘designed’ for enterprise use from the outset.
  2. Many enterprise use cases require performance characteristics that the permissionless blockchain technologies are unable (presently) to deliver.
  3. Java, Go, Node.js
  4. Enable the platform to be more effectively customized to fit particular use cases and trust models.
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#532
  1. Business-use cases have a need to be private, trusted, cost-effective, easy to integrate, efficient, compliant with rules and regulations, and have good public relations. Hyperledger Fabric has been designed for enterprise use.
  2. For business-use cases the public blockchains are inefficient, difficult to manage and build, and they’re expensive.
  3. Fabric uses Java, Go and Node.js programming languages.
  4. Pluggable consensus protocols enable the platform to be more customized to fit use cases and trust models. Crash fault-tolerant (CFT) is adequate within a single enterprise, while more complex multi-party decentralized cases require Byzantine fault-tolerant (BFT) consensus protocol.
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#533

  1. The interest in permissioned blockchain technologies such as Hyperledger started because permissionless blockchains couldn’t fully serve enterprise needs such as:

  2. privacy, scalability, or compliance with regulation (KYC, AML)

  3. Smart contracts on Fabric can be written in general-purpose programming languages such as Node.js, Go, Java

  4. Fabric’s ordering service is modular. It is logically decoupled from the nodes that execute transactions and maintain the ledger.

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#534
  1. What started the large interest in permissioned blockchain technologies such as Hyperledger?
    Many enterprise use cases require performance cahrachteristics that the permissionless blockchain technologies are unable to deliver yet.
  2. Why are the popular public blockchains not suitable for business use cases?
    Participants must be identifiable, networks need to be permissioned, high tx performance needed, low latency of tx confirmation neeeded, privacy and confidentiality of tx and data for B2B
  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 to have a modular architecture and to interact with protocols such as LDA or OpenID Connect, or cryptographic libraries.
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#535

  1. The first and most widely recognized application of blockchain is Bitcoin.

  2. Basically, these are public networks, open to anyone, where participants interact anonymously.

  3. Such as Java, Go and Nodes.

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

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#536
  1. What started the large interest in permissioned blockchain technologies such as Hyperledger?
    The requirements and rules governing private corporations are different from the needs of Permisionless blockchains.
  2. Why are the popular public blockchains not suitable for business use cases?
    they are not private, too slow, no need to design and use untrusted parties within the business entities.
  3. What programming languages can be used to write smart contracts on Hyperledger Fabric?
    Java, GO and others
  4. What does it mean to have support for “pluggable consensus protocols”?
    A flexible consesus protocol system that can be variant to the degree required.
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#537

  1. With the popularity of crypto growing enterprises also picked it up but for their needs (identifiable participants, permissioned network,…) standard BC werent suitable because there users are anonymous, permissionless network that means anyone could see the info that they might want to keep hidden from competition.

  2. Because of anonymity on premissionless BC they aren’t suited for business where identity is most important, slow tx’s, open governance.

  3. You can use NODE.js, Java, Go.

  4. It enables the platform to be more effectively costumized to fit particualr cases and trust models.

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#538

1- knowing the identity of the user.
2- Because networks need to be permissioned.
3- Standard programming languages like Go or Node.j.s…
4- the ordering of transactions is delegated to a modular component.

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#539
  1. Companies needed privacy so only permissioned people or nodes could use the ledger
    2.public blockchain shave unknown nodes, are slow and not private
  2. Can use Java, node.JA and go
    4 pluggable consensus is a set of specific permissioned nodes to reach consensus
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#540

  1. What started the large interest in permissioned blockchain technologies such as Hyperledger?
    The following needs:

    Participants must be identified/identifiable
    Networks needed to be permissioned - giving specific individuals access to specific functions/features
    High transaction throughput performance
    Low latency of transaction confirmation
    Privacy and confidentiality of transactions and data pertaining to business transactions

    In a lot of ways, I can think of this as a closed corporate database with the enhanced security, immutability and transparency - but the transparency is limited based on the needs of your position within the company.

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

    The public aspects of these blockchains do not allow for the particular privacy needs of some businesses (customer data, sensitive R&D data, etc.). Some employees do not need access to more sensitive data, perhaps their trust level has not been verified or perhaps the position they fill simply has no justifiable need to access specific information. This is typical in any business in any industry.
    Identifying users is usually mandatory for businesses - who they interact with, who they employ, KYC/AML Regulation compliance, etc.

  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 (Since business aren’t constrained to domain-specific languages, they likely have people on staff capable of interacting with Fabric to develop smart contracts and anything else they may desire to use the technology for.

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

    The platform is customizable to fit specific needs for use case and trust models dependent on current use and trust levels. When trust levels are high, you can use a pluggable consensus with less drag on performance and throughput. When the risk is higher, you’re likely willing to sacrifice on performance and throughput to increase security.

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#541
  1. What started the large interest in permissioned blockchain technologies such as Hyperledger?
    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

While many early blockchain platforms are currently being adapted for enterprise use, Hyperledger Fabric has been designed for enterprise use from the outset.

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

  2. 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).

  3. What does it mean to have support for “pluggable consensus protocols”?
    This allows customization of the solution to a particular use case or requirement.

1 Like