- Most enterprises have requirements public blockchains are unable to deliver. Permissioned blockchains such as Hyperledger are designed to fulfill those requirements.
- There are cases where enterprises doesn’t want their data to be open for public. Some enterprises need to KYC for Anti-Money-Laundering. With older public blockchains the transaction throughput performance is not high enough and it would be better and faster for an enterprise if only their own nodes validate their transactions.
- E.g. Java, Go and Node.js
- The ability to use whichever consensus protocol suits the enterprise the most so that they are able to scale their performance and throughput to their needs
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- What started the large interest in permissioned blockchain technologies such as Hyperledger?
Hyperledger was designed for use in enterprise contexts, attending some key points requirements to operate businesses.
- Why are the popular public blockchains not suitable for business use cases?
Because many Businesses have requirements that go directly opposite to what a public blockchain has to offer, especially, when it comes to privacy and control.
- What programming languages can be used to write smart contracts on Hyperledger Fabric?
Java, Go and Node.js and DSL.
- What does it mean to have support for “pluggable consensus protocols”?
It means that the platform can be customized to efficiently interact use cases and trust models.
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There seemed to be a missing functionality between the permissionless blockchain and the legacy
computer technology whereby organisations desired the superior transparancy features but
required some privacy of sensitive information capabilities. -
Etherium, EOS, Tron.
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Java, Nodejs, Go
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Means its modular, it can be expanded or customised over time and capacity requires
- Mostly the inefficiencies to it’s applicability in the business world. Like fees, public information, the considerable possibility of data exposure, performance issues…
- Just described above; the answer to this questions are related.
- Because of the new architecture for transactions applied, the Hyperledger Fabric eliminated the non-determinism and allows the use of standard programming languages such as Go or Node.js.
- The modularity allows the user to choose what kind of consensus protocol to adopt (if the platform supports it)
-> Related to my third answer (it’s an argument in the lecture) the elimination of non-determinism it’s an advantage or a drawback? If we can find both, in what aspect it’s applied?
Tyvm!
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What started the large interest in permissioned blockchain technologies such as Hyperledger? Blockchain technologies are desirable because of the immutability and distributed nature of their transaction ledgers, which are maintained by a distributed network of peer nodes which use a consensus protocol and hash mechanism to validate transactions. However, businesses have a need to keep much of their transactional data and users’ identities to be private – thus leading to the need for permissioned blockchain technologies.
Why are the popular public blockchains not suitable for business use cases? They are public networks, open to anyone, where the participants interact anonymously. Businesses require for participants to be identified, and KYC and AML are required for financial transactions. Transactions are generally confidential on a need-to-know basis, and it is not desirable to broadcast them publicly – even if encrypted.
What programming languages can be used to write smart contracts on Hyperledger Fabric? Hyperledger Fabric allows for the use of general-purpose programming languages such as Java , Go and Node.js
What does it mean to have support for “pluggable consensus protocols”? In a multi-party, decentralized environment, protocols such as the byzantine fault tolerant (BFT) consensus protocol might be required to confirm transactions, since the environment is generally trustless and may even have malicious smart contracts running on every node.
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What started the large interest in permissioned blockchain technologies such as Hyperledger?
Business are interested in the underline technology of the blockchain but they need specific characteristics that the permissionless blockchains are unable to deliver right now. -
Why are the popular public blockchains not suitable for business use cases?
Mostly because legal requirements, like identification of the participants and performance characteristics as High transaction throughput or low latency of those transactions. -
What programming languages can be used to write smart contracts on Hyperledger Fabric?
it supports general purpose programming specific languages like Java, Go and NodeJs. -
What does it mean to have support for “pluggable consensus protocols”?
The business can choose whatever consensus protocols suits better for the user case.
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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.
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Why are the popular public blockchains not suitable for business use cases? :
They lack the performance and security and identity features that are needed in most enterprise use cases.
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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 “pluggable consensus protocols”? :
Pluggable consensus protocols allow the organizations the ability to customize trust models,
allowing the Flexibility to switch/implement protocols that work best with a multitude of consensus protocols.
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The utilities that Blockchains could provide for companies without the need for mandatory transparency. Companies could now utilize the full scope of advantages Blockchain brought without sacrificing control over their database.
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Because they have a superior cost, are completely transparent and users are anonymous. Company information/transaction trail would be exposed to every player in the space and a victim to varying gas fees and transaction speeds. Could you imagine your company having to pay extra to transfer information because the latest NFT mint craze?
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Node.js and Go, with plans to add Java.
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Modules can be added as a way to customize consensus mechanisms and other features.
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- What started the large interest in permissioned blockchain technologies such as Hyperledger?
Banking crisis of '08 - Why are the popular public blockchains not suitable for business use cases?
lack of privacy and open governance - What programming languages can be used to write smart contracts on Hyperledger Fabric?
Java, Python and node.js - What does it mean to have support for “pluggable consensus protocols”?
the main program can use easily added modular programs to facilitate its customized consensus code to fit specific use cases
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What started the large interest in permissioned blockchain technologies such as Hyperledger?
The need for privacy and confidentiality regarding business transactions and the need for identification- permission less blockchains could not provide these requirements. -
Why are the popular public blockchains not suitable for business use cases?
Transactions on public blockchains are transparent- there is no privacy and it is anonymous; performance is slower. -
What programming languages can be used to write smart contracts on Hyperledger Fabric?
Java, GO, Node.js; Python etc. -
What does it mean to have support for “pluggable consensus protocols”?
Allows for the platform to be customised to fit the company’s existing structures.
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What started the large interest in permissioned blockchain technologies such as Hyperledger?
Business wanted to use the block chain technology due to it’s secure environment and also for the speed of the technology
That blockchain offers.
Why are the popular public blockchains not suitable for business use cases?
-due to the private nature of the business, participants must be identified and networks must be permissioned
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”?
-they enable the platform to be more effectively customized to fit particular use cases and trust models.
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1 - It gives companies the chance to use blockchain technology while keeping sensitive data private
2 - All the informations are public and it takes a cryptocurrency to valid transactions (high cost)
3 - Java, Go, NodeJS
4 - It enables the platform to be more effectively customized to fit particular use cases and trust models
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1.what started the large interest in permission 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?
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.
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?
that it can be effectively customized to fit particular use cases and trust models.
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Hi everyone,
- They are a good compromise to get some of the benefits of a standard public blockchain, to a certain extent, but more private, less slow/more efficient, with authorised nodes, easier to manage, customised rules of consensus. That is a way in the middle between go full public blockchain and go for a centralised database.
- The balance between benefit and cost would go too much on the cost side: yes that would be decentralised, immutable, etc. but that would be at a way too high cost for most business cases: that would be inefficient, difficult to manage, slow, public (“public” is not necessarily a con, it depends of the business case, but in a lot of cases privacy would be required instead, so that would be a problem), etc.
- Go, NodeJS, eventually Java
- They can be customised to the business case to find the right trade balance with efficiency.
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- The success of blockchain technologies in Bitcoin and Ethereum have created interest from business to incorporate blockchain technology.
- It is not cost efficient, business typically need to identified users to comply with KYC and AML regulation, difficult to integrate all company needs into a public blockchain, privacy of informaton.
- Java, Go and Node js
- Enable the platform to be more effectively customize.
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Utilizing DLT’s and it’s benefits within an enterprise setting. Making use of decentralized IT-infrastructure, but at the same time keeping control over sensible corporate data. Trade-off between decentralization and scalability.
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All transactions are (although hashed) recorded on a public ledger, therefore lack of confidentiality. Networks are permission less, which reduces scalability and performance due to strict consensus rules. Computation can’t be handled in parallel = latency.
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Java, Go and NodeJS
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This allows companies to make use of consensus protocols, which are ensuring more efficient processing / throughput by e.g. reducing the number of validators.
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1.) The popularity of derivative technologies like Bitcoin and Ethereum grew, which also grew the popularity of distributed ledgers and distributed application platforms with innovative enterprise use cases.
2.) The popular public blockchains are not suitable for business use cases because many enterprise use cases require performance characteristics that permissionless blockchains can’t currently deliver. Some of these characteristics include unidentifiable participants, permissionless network users, low transaction throughput performance, and no privacy in the scheme of business-transaction data.
3.) The programming languages that can be used to write smart contracts on Hyperledger Fabric include Java, Go, and Node.js.
4.) To have support for “pluggable consensus protocols” means to decouple the ordering of transactions in a modular component from the peers that execute transactions and maintain the ledger.
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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, go, node.js -
What does it mean to have support for “pluggable consensus protocols”?
It allows for mor effective customization to fit particular use cases and trust models.
1 Like
- What started the large interest in permissioned blockchain technologies such as Hyperledger?
As BTC and ETH started gaining popularity, it sparked interest in the underlying technology that corporations had use cases for. - Why are the popular public blockchains not suitable for business use cases?
Because Corporations need the below requirements to be in place and at present this isn’t available in the 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
- 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”?
It means that the platform can be customized to fit particular use cases and trust models
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- What started the large interest in permissioned blockchain technologies such as Hyperledger?
A. The popularity of Bitcoin, Ethereum and a few other derivative technologies. - Why are the popular public blockchains not suitable for business use cases?
A. Hyperledger Fabric has been designed for enterprise use from the outset. - What programming languages can be used to write smart contracts on Hyperledger Fabric?
A. Java, Go and Node.js - What does it mean to have support for “pluggable consensus protocols”?
A. It enables the platform to be more effectively customized to fit particular use cases and trust models.
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