Hi guys!
1. What started the large interest in permissioned blockchain technologies such as Hyperledger?
In short, business had needs that could be met with blockchain technologies like Hyperledger. Needs like identifying who is participating within their business, transaction transparency, building on top of already existing trust between parties, engaging with competitors etc.
2. Why are the popular public blockchains not suitable for business use cases?
When a blockchain is permissionless, it means anyone can participate; this means that if a business were to implement their doings on a public blockchain it would involve a lot more that just their business; other peopleâs transactions, mining, slower speed etc.
3. What programming languages can be used to write smart contracts on Hyperledger Fabric?
The joy is that smart contracts written in general-purpose programming languages such as Java, Go and Node.js are used, and so no new learning is necessary for the developers.
4. What does it mean to have support for âpluggable consensus protocolsâ?
This part was a little complicated for me to understand but this is what I think: the idea is that with Fabric it is customizable. You can use the byzantine fault tolerant protocol to execute by majority consensus or by a crash fault-tolerant consensus protocol whereby certain programs are executed by a head node for example. PLEASE CORRECT ME IF I AM MISUNDERSTANDING THIS.
- What started the large interest in permissioned blockchain technologies such as Hyperledger?
- The business-friendly aspect of permissioned blockchains, such as centralized control, privacy of data, ability to easily update the blockchain, no need for mining / PoW,
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Why are the popular public blockchains not suitable for business use cases?
Because of privacy concerns, data that should not be visible to everyone like prices charged to specific customers are suddenly available for everyone to see making discriminatory pricing policies for customer retention not possible -
What programming languages can be used to write smart contracts on Hyperledger Fabric?
Samrt contracts can be programmed in Go, Python and node.js -
What does it mean to have support for âpluggable consensus protocolsâ?
Main program can add modular programs to customize the consesus for special and specific use cases (better customization of the platform)
1. What started the large interest in permissioned blockchain technologies such as Hyperledger?
Enterprise use cases
2. Why are the popular public blockchains not suitable for business use cases?
They are accessible by anyone
Theyâre permissionless
Theyâre slow
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 âpluggable consensus protocolsâ?
That you can configure your network to meet your specific needs
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Itâs more practical for business use, as it allows data to be private compared to decentralized blockchains. Also, hyperledger doesnât require any cryptocurrency or mining activity to be used.
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All the data stored is publicly viewable, and permissionless blockchains can be slow and expensive to use.
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Java, Go, and Node.js
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The consensus protocol is more customizable to the entities. For example, a less rigorous CFT consensus protocol can be implemented for hyperledgers that are used by single entities, such as a company.
- Those 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
- Are not really suitable for this characteristic:
- No permission required;
- Incentives are important;
- No trust, anonymous.
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Java, go, node.js
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The consensus is modular, its implementation can be tailored to the trust assumption of a particular deployment or solution.
- The interest in applying the blockchain technology to business specific use-cases rose along with the popularity of the Bitcoin and Ethereum blockchain in the last few years.
- Entreprise need a higher performance than the public blockchain can presently provide
- Knowing the participantâs identity is important (security reasons, confidentiality and/or legal requirements). Yet public blockchain participants cannot be controlled.
- Java, Go or Node.js
- It means that consensus protocols can be customized to specific needs and do not need to be as complex as in a public blockchain (as nodes are trusted).
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What started the large interest in permissioned blockchain technologies such as Hyperledger?
Interest in the underlying blockchain technology that is trustless and immutable but for business use more control and permissions were required so that data is not accessible to anyone without the relevant permissions. -
Why are the popular public blockchains not suitable for business use cases?
- Popular blockchains like Bitcoin and Ethereum are not suitable for business use due to their public decentralised nature.
- Anyone with internet access and knowledge of the business wallet addresses would be able to view all the transactions on the publicly available block explorer
- Businesses require a more private network so that controls can be obtained on who can view, create, edit or transact on the blockchain
- Transactions expensive and performance can be compromised
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What programming languages can be used to write smart contracts on Hyperledger Fabric?
Java, node.js and Go -
What does it mean to have support for âpluggable consensus protocolsâ?
To allow the customisation of the platform to fit use cases
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The implementation of Blockchain technology by BTC ETH and cryptocurrencies led to an interest in the immutability, security and trustless nature of blockchain. However on a business interaction side of things, there is also a need for privacy and a permissioned environment. Hyperledger technology and other similar technologies help solve this and the was and is interest in these solutions.
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Business use cases involve a need for privacy and permission as well as the benefits of a distributed ledger.
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Node.js , Java, Go
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The consensus models used can be customizable and applied in varied ways by the different use cases.
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What started the large interest in permissioned blockchain technologies such as Hyperledger?
The need for companies to leverage decentralized, blockchain technology with the ability to keep secure and private the network. -
Why are the popular public blockchains not suitable for business use cases?
Performance, security, ease to implement, etc⌠are some reasons why public blockchains are not stuitable for business. -
What programming languages can be used to write smart contracts on Hyperledger Fabric?
Node.js, Go, Java. -
What does it mean to have support for âpluggable consensus protocolsâ?
We can put a chosen protocols on the private blockchain, so we are not tied up to a specific protocol only. It depends on the business case need.
- Using the benefits of blockchain for businesses
- They are slow and expensive
- Java, Go, Node.js
- You can add and remove different consensus protocols to your blockchain - flexible
1 The companies that wanted to use the blockchain benefits in a more private way.
2 Because of the privacy issues. They need to secure their data.
3 Java, Go, Node.js.
4 The platform can adjust to specific cases that is required.
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The interest came from permissionless blockchain networks, but it had no implication for enterprise usage, due to the anonymity, speed and full transparency.
For enterprises there are rules and regulations they need to follow such as KYC and AML, which is practically impossible with permissionless public blockchain networks. -
Full transparency, anonymity, speed, cost and efficiency.
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Java, Go, node.js
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It allows you to change the consensus protocol, dependant on needs and use cases. Not only PoW and PoS like with public permissionless networks.
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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.
It was recognised that the permisionless blockchain technologies, such as Bitcoin and Ethereum, were not yet ready to provide a suitable service for enterprise.
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. Permissioned blockchains such as Hyperledger Fabric are, currently, more able to fill the enterprise use case. -
For most business 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. In addition, for enterprise use, we need to consider the following requirements:
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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JAVA, Go and Nodejs
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The ordering of transactions is delegated to a modular component for consensus that is logically decoupled from the peers that execute transactions and maintain the ledger. Specifically, the ordering service. Since consensus is modular, its implementation can be tailored to the trust assumption of a particular deployment or solution. This modular architecture allows the platform to rely on well-established toolkits for CFT (crash fault-tolerant) or BFT (byzantine fault-tolerant) ordering.
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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.
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Public blockchains are not suitable for business use cases because they are slow and expensive, there can be limitations such as business might require KYC and other legal requirements.
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Java, Go, Node.js
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Consensus model can be customized and changed according to the business needs
- There are several business that need privacy to scale with that there are certain other requirements such as identified participants, low performance, high cost, data and code saved within trusted nodes, easier to integrate. All these factors gave rise to large interest in permissioned blockchain
2.Ethereum or EOS
3.JAVA, GO, NODE J.S - Pluggable consensus means that no news architecture or design is needed to arrive consensus the platform offers adaptability to any consensus by its design
1. What started the large interest in permissioned blockchain technologies such as Hyperledger?
Many enterprise use cases require performance characteristics that the permissionless blockchain technologies are unable (presently) to deliver. One example is that, the identity of the participants is a hard requirement (KYC) and Anti-Money Laundering (AML) regulations must be followed.
2. Why are the popular public blockchains not suitable for business use cases?
Public blockchain lack of the following characteristics:
- 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, Node.JS
4. What does it mean to have support for âpluggable consensus protocolsâ?
Customisable modular component for consensus tailored for specific use case. This allows the platform to rely on well-established toolkits for CFT (crash fault-tolerant) or BFT (byzantine fault-tolerant) ordering.
- What started the large interest in permissioned blockchain technologies such as Hyperledger?
Innovative and tech savvy enterprises want to use blockchain technology but some permissionless technologies may not suite the use cases for these enterprises, thus Hyperledger was created. Features that enterprises may need to rely on would be KYC and AML regulations. - Why are the popular public blockchains not suitable for business use cases?
Popular public blockchains such as Bitcoin and Ethereum may allow the public to participate in the governance, while they may require approved nodes to participate in the governance of the businesses. Some public information may cause businesses from forming beneficial relationship between suppliers and buyers for example. - 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?
The feature of the Hyperledger platform to be customisable based on use cases and trust model.
1/ Public blockchains have major limitations, privacy and performance, which Hyperledger can provide.
2/ Public blockchain lacks privacy, confidentiality of persons/transactions, performance.
3/ Go, node.js, Java
4/ It allows platform to be customized to fit a companyâs needs/models
- What started the large interest in permissioned blockchain technologies such as Hyperledger?
The business interest in applying the underlying technology of the blockchain, distributed ledger and distributed application platform to more innovative enterprise use cases, but with more performance characteristics than the ones offered by the permissionless blockchain solutions like ETH or BTC, and while knowing the identity of the participants such as in the case of financial transactions where Know-Your-Customer (KYC) and Anti-Money Laundering (AML) regulations.
- Why are the popular public blockchains not suitable for business use cases?
Because of the following requirements of 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
- 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?
âPluggable consensus protocolsâ enable the platform to be more effectively customized to fit particular use cases and trust models.
- The need to trace identity and performance.
- Everything is transparent, donât have permissions, slower performance
- Java, Go, node.js
- It means that consensus can be changed based on what we are doing.