Hyperledger Intro - Reading Assignment

Blockchain Business Course
#683

1. What started the large interest in permissioned blockchain technologies such as Hyperledger?
Hyperledger got a lot of inspiration from Bitcoin and Ethereum. But Hyperledger is better for businesses because it is made private.

2. Why are the popular public blockchains not suitable for business use cases?
They are open so everyone can see the data they are using.
It is a little too slow for handling fast transactions.
And there are a lot of insecurities with regulations.

3. What programming languages can be used to write smart contracts on Hyperledger Fabric?
Java, Go, and Node.js this is done because this way the persons working in the business don’t need to learn a whole new language which can cost time and money.

4. What does it mean to have support for “pluggable consensus protocols”?
This means that the consensus protocol can be customized to the business it needs. Because most of the time a business want’s more speed.

1 Like
#684

1. 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.

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

Everything is transparent - there is no privacy or confidentiality of data or transactions

Networks are permissionless

Slower transaction performance and confirmation

Open governance

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”?

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

1 Like
#685
  1. What started the large interest in permissioned blockchain technologies such as Hyperledger?
    The realization of limitations of public blockchains and a desire to have full control and ownership of blockchain projects/implementations.
  2. Why are the popular public blockchains not suitable for business use cases?
    Mainly because of the anonymous identity of participants and slowness.
  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”?
    Pluggable consensus protocols let the architects pick the appropriate level of trust that is needed. In some cases, the consensus is merely providing fault tolerance like capabilities. In other cases, the byzantine consensus might be employed, to ensure all nodes agree on the data in the block chain.
1 Like
#686

  1. The current problems of public blockchain meaning that they are slow, not scalable enough and anyone can join without any ID verification which is inconvenient for enterprise use cases

  2. As said, they are not scalable, people do not know who the nodes are, they are quite slow with the consensus models they are using but also there is bad PR about them

  3. Java, Node.js and GO

  4. To create customed made blockchain solutions to meet different needs instead of being stuck just with one.

1 Like
#687
  1. 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. Because many enterprise use cases require performance characteristics that the permissionless blockchain technologies are unable (presently) to deliver.

  2. It supports smart contracts authored in general-purpose programming languages such as Java, Go and Node.js

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

1 Like
#688

  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. However, 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. Why are the popular public blockchains not suitable for business use cases?
    Not private, open governance, networks are permissionless and slower 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”?
    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.

1 Like
#689
  1. With Hyperledger companies realized they can use the benefits of public blockchains to their own internal business ops by adapting the Hyperledger Technologies to their own needs under the business rules and regulations that apply to them.
  2. Privacy of data and code is important for companies as well as being able to integrate a blockchain that suits their needs in terms of effectivity and efficiency and adaptability to improve their own infrastructure and to avoid bad climate pr.
  3. For example, Java, Go, Node Js
  4. Means the blockchain can be adapted to the companies needs, use cases and trust models.
1 Like
#690
  1. The understanding that permissionless blockchain technologies were working well for their use case and the implementation of the technology in a permissioned way could benefit any business that implemented it.
  2. Slower transaction speed, public information (company might want to keep theirs private).
  3. Java, Go, node.js
  4. It means to have the ability to customize the use-case of the consensus mechanism to fit the trust model required.
1 Like
#691

Hyperledger Intro - Reading Assignment – Questions


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

Businesses were interested in the underlying technology of the blockchain networks such as Bitcoin and Ethereum. However, many enterprise use cases require performance characteristics that permissionless blockchain technologies are unable to deliver at this moment in time.

Additionally, in many use cases, the identity of the participants is a hard requirement. For instance, in the case of financial transactions, Know-Your-Customer (KYC) and Anti-Money Laundering (AML) regulations must always be followed. Permissioned blockchains such as Hyperledger Fabric are, currently, more able to fulfill the needs and regulatory requirements of enterprise use cases.


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

  • Full transparency may not be ideal for a corporation (no privacy or confidentiality of its data and transactions)
  • Networks are permissionless (anyone outsiders could access a firm’s systems)
  • Slower transaction performance and confirmation speeds
  • Open governance model (every node participates in the consensus protocol, which would hamper or detract a business’ operating model if let loose).

While the needs for enterprise blockchains are:

  • Networks need to be permissioned
  • High transaction throughput performance
  • Low latency of transaction confirmation
  • Privacy and confidentiality of transactions and data regarding business transactions.


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

General-purposes programming languages, such as:

  • Java
  • Go
  • node.js


4. 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.
In effect, it can be more easily “plugged into” an enterprise’s IT platform.

1 Like
#692
  1. Companies wanted to adopt the blockchain technologie but had requirements public blockchains can’t meet such as: 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
  2. They cannot provide the above requirements. For example low latency of transaction confirmation will get bogged down by the consensus algorithm of public blockchains.
  3. Java, Go and Node.js ( general-purpose programming languages)
  4. It means that the hyperledger platform can be easily modified to specific usecases.
1 Like
#693

  • What started the large interest in permissioned blockchain technologies such as Hyperledger?
    The growth in popularity of Bitcoin, Ethereum and of other blockchain technologies shone a light on the underlying technology and distributed ledger and application platform use cases were extended to enterprise business use.

  • Why are the popular public blockchains not suitable for business use cases?
    Public blockchains were not deemed suitable for enterprise use because privacy and confidentiality, identity of permissioned users, high transaction throughput and low latency of transaction confirmation are required in most of those systems. Those are (or were) not traits of public blockchain systems.

  • What programming languages can be used to write smart contracts on Hyperledger Fabric?
    General purpose languages such as Go, Javascript (Node.js) and Java can be used, as opposed to domain specific languages, making it simpler to find developers who are ready to go to work on the applications.

  • What does it mean to have support for “pluggable consensus protocols”?
    Having support for pluggable consensus protocols means that Hyperledger is not required to use a protocol such as Byzantine Fault Tolerant protocol, giving it the flexibility to operative without the requirement of a native cryptocurrency, which removes significant attack vectors and risk from the platform.
    [/quote]

1 Like
#694

  1. Business use cases for the blockchain technology. However as a public blockchain is far from always suited for many types of business usage (in major part due to being permission less and anonymous) an alternative was developed.

  2. Public ledgers ARE public and business needs confidentiality for several reasons. There is also need to restrict who can access different kinds of service. Public chains (at the very least older ones) can be rather slow for transactions (for older chains, blocks aren’t exactly added and confirmed within a second). Finally, Open governance is not something companies would view as desirable for most part.

  3. Java, Go, node.js, commonly used programming languages

  4. Enablement of customization for particular use cases and trust models.

1 Like
#695

  • What started the large interest in permissioned blockchain technologies such as Hyperledger?
    Applying blockchain tech to enterprises to know customer ID, high transaction, low latency for transaction confirmation and privacy and confidentiality of transactions and data. Individual optimization, supports smart contracts that is perfect for a many different types of businesses: supply chain, royalty, finance, insurance, healthcare and banking.

  • Why are the popular public blockchains not suitable for business use cases?
    Transparency, no permissions to data on the blockchain, and slower performance.

  • 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”?
    Modular component can be customized for consensus for specific use case. this allows the platform to rely on well-established toolkits for Crash-Fault-Tolerant or Byzantine Fault-Tolerant ordering.

1 Like
#696

  1. What started the large interest in permissioned blockchain technologies such as Hyperledger?
    A. Once Bitcoin and Etherium became popular, people wanted a way to do the same thing but still be able to identify users and manage who had access to the blockchain.

  2. Why are the popular public blockchains not suitable for business use cases?
    B. Businesses wanted to be able to have control over the program, identify users while keeping information from others.

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

  4. What does it mean to have support for “pluggable consensus protocols”?
    D. to be able use controls anywhere from CFT to BFT.

1 Like
#697

1. What started the large interest in permissioned blockchain technologies such as Hyperledger?
Cryptocurrencies, however some adaptations to DLTs needed to be made for enterprise use
2. Why are the popular public blockchains not suitable for business use cases?
Slow transactions, costly transactions, susceptible to attacks, bad PR, privacy
3. What programming languages can be used to write smart contracts on Hyperledger Fabric?
Node.js, Java
4. What does it mean to have support for “pluggable consensus protocols”?
The ability to change the blockchains consensus algorithm

1 Like
#698

  1. What started the large interest in permissioned blockchain technologies such as Hyperledger?
    Faster transactions, identified users, privacy of transactions.

  2. Why are the popular public blockchains not suitable for business use cases?
    They are slow as there are others using the network, not private, anyone can attend.

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

  4. What does it mean to have support for “pluggable consensus protocols”?
    Platform can be customised to fit variety of use cases; how we reach consensus can be different.

1 Like
#699

  1. What started the large interest in permissioned blockchain technologies such as Hyperledger?
    Companies realized the use cases of blockchain form the emergence of permissionless blockchains such as Bitcoin or Ethereum. Companies wanted to implement some of the good points of public blockchains while maintaining things like governance, trust, identity, and configurability.

  2. Why are the popular public blockchains not suitable for business use cases?
    Public blockchains are not suitable for businesses because in most cases businesses need 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?
    Many platforms require that the smart contracts be written in a non-standard, or domain-specific language such as Solidity, so that non-deterministic operations can be eliminated

  2. What does it mean to have support for “pluggable consensus protocols”?
    It means the ordering of transactions is delegated to a modular component for consensus that is decoupled from the peers that execute transactions and maintain the ledger. This helps keep maintain high integrity of the network.

1 Like
#700

  1. For any enterprise, the privacy of their data is crucial and indispensable. Since Hyperledger fabric provides such a permissioned distributed ledger technology, this characteristic drew large interest in the permissioned blockchain. Businesses not only get the benefit of blockchain technology, which is immutable and tracks provenance, but also advanced privacy controls to protect their data within the network. Nonetheless, hyperledger offers highly modular and versatile architecture that accommodates a smorgasbord of industry use cases.

  2. Public blockchains aren’t suitable for businesses because they allow anyone to join the network, rather than providing a permissioned platform where only known and trusted participants can join the network to conduct operations with some degree of trust.

  3. Hyperledger Fabric offers smart contracts to be authored/coded in general programming languages such as Java, Node.Js, and Go.

  4. Pluggable Consensus Protocols offer versatility to enterprises with different use cases, rather than to strictly follow a one-size-fits-all approach. This allows the platform to be more configurable to fit particular use cases.

1 Like
#701
  1. What started the large interest in permissioned blockchain technologies such as Hyperledger?
    Permission-less blockchains such as Bitcoin and Ethereum and the underlying technology grew the interest but with a need to maintain visibility of participants and protect sensitive data Hyperedge is a great alternative.
  2. Why are the popular public blockchains not suitable for business use cases?
    Because all transactions or all data is held by all nodes so there is no privacy of sensitive info.
  3. What programming languages can be used to write smart contracts on Hyperledger Fabric?
    Nodejs and Go, hopefully soon JavaScript
  4. What does it mean to have support for “pluggable consensus protocols”?
    Different consensus protocols can be added dependent on the need of the enterprise structures using or needing them. (i think?)
1 Like
#702
  1. Interest in blockchain and applying it into businesses who need a closed network with trusted notes
  2. Permissionless blockchain is public and anonymous, so governance and performance characteristics cannot be guaranteed.
  3. Node.js, Go, Java.
    4, The consensus protocol can be customized and modifiable.
1 Like