Hyperledger Intro - Reading Assignment

Blockchain Business Course
#763

  1. What started the interest in permissioned blockchain technologies was the fact that global companies, such as Coca-Cola, IBM, Schneider Etc. were interested in the main advantages of using a blockchain, like immutability, transparency, traceability… But, of course, they didn’t want their private data to be posted at public permissionless blockchains like Bitcoin, Ethereum, Polygon and others…

  2. They are not suitable because business entities don’t want anyone to access the private blockchain (for obvious reasons) and, also, because they needed that everyone who could access and make a transaction on these blockchain are not anonymous people, but that everyone there could be totally recognized.

  3. Nowadays, according to the article, Go and NodeJs. They plan to, in further versions, allow another languages to be used, such as Java.

  4. Puggable consensus protocols are what that enable the platform to be constructed in a way that fits the particular use cases and models of trust.

#764

  1. The large interest in permissioned blockchain technologies such as Hyperledger in other words distributed ledger, started with corporations need for traceable efficient increased privacy and security storing data, while increasing certainty and trust between the nodes permitted to be participating the network while transparency is present within the system. Use of hyperledger is also cost effective and has no need for the use of cryptocurrency which gives ability to be more compliant with current rules and regulations. Data and code is saved within trusted nodes so there is no need for mining which is supported by the businesses from environmental aspect.

  2. Popular public blockchains are not suitable for business use cases because they slow and more expensive to create and manage. Participants are not identified and information consensus is publicly available.

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

4.To have support for “pluggable consensus protocols” means that the ordering of transactions is delegated to modular components for consensus decoupled from peers that execute transactions and maintain the ledger. They enable platforms which are using them to be more effective customising trust models in their particular use case scenarios and while less costly in performance.

#765
  1. As the popularity of decentralized cryptocurrencies grew more businesses became interested in enteprise use cases of this technology that would require permissions
  2. The performance is worse on public blockchains compared to private, information needs to be controlled and only permissioned parties should be able to access it, businesses need to know the identity of people interacting with their blockchain
  3. Java, Go, Node.js
  4. The business can choose from a range of predefined consensus models which one makes most sense for their use case
#766

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

Combined, the differentiating capabilities of Fabric make it a highly scalable system for permissioned blockchains supporting flexible trust assumptions that enable the platform to support a wide range of industry use case.
Hyperledger Fabric can be configured in multiple ways to satisfy the diverse solution requirements for multiple industry

Hyperledger Fabric, being a permissioned platform, enables confidentiality through its channel architecture.

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

Many enterprises 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.

Enterprise use need 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?

Java
Go
Node.js

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

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.

#767

1.) What started the large interest in permissioned blockchain technologies such as Hyperledger?
Ethereum’s promise to de-silo online businesses sounded fantastic. But businesses didn’t want to be entirely de-siloed. Can we negotiate?

2.) Why are the popular public blockchains not suitable for business use cases?
Privacy is extremely problematic on open public blockchains. Businesses have information that needs to be private for competitive reasons, things like differential customer fees, cost basis, and so on.

3.) What programming languages can be used to write smart contracts on Hyperledger Fabric?
At the moment: Go or NodeJS, with plans for Java and more in the future.

4.) What does it mean to have support for “pluggable consensus protocols”?
HyperLedger’s layers are modular, including its consensus layer. It also does things backwards to public chains where the blocks are broadcast fully built to eliminate the need for multiple distributed systems doing proof of work to build blocks simultaneously. Available consensus models cover the spectrum of trust between fully internal systems and systems distributed among several cooperating or competing enterprises.

#768
  1. The growing interest in permissioned blockchain technologies like Hyperledger was spurred by the need for performance characteristics that public blockchains couldn’t deliver and the requirement for identified participants in enterprise use cases.

2)Public blockchains are not suitable for business use cases due to issues like anonymity of participants, lack of control over network access, and the inability to meet enterprise performance requirements.

3)Hyperledger Fabric supports smart contracts written in general-purpose programming languages such as Java, Go, and Node.js.

4)“Pluggable consensus protocols” in Hyperledger Fabric mean that the platform allows for the customization of consensus protocols based on specific use cases and trust models, offering flexibility in selecting the most suitable consensus mechanism.

#769

  1. What started the large interest in permissioned blockchain technologies such as Hyperledger?
    The growing popularity of blockchain. Bitcoin and Ethereum rose in popularity but businesses felt compelled to have a dedicated type of solution where they could identify users and have better throughput and latency.

  2. Why are the popular public blockchains not suitable for business use cases?
    Open public permissionless blockchains do not allow you to identify the users. anonymity or pseudonimity by design makes it impossible or hard to know who entered a transaction on the network. The legal constraints are therefore harder to enforce for companies. Most businesses need a high throughput and low latency in order to conduct business, public blockchains are slow by design. Finally they need to transactions to be private and confidential. THe public blockchains make them public…

  3. What programming languages can be used to write smart contracts on Hyperledger Fabric?
    The ones companies already use today: Java Go or Node.js.

  4. What does it mean to have support for “pluggable consensus protocols”?
    The consensus protocol can be tailored by the network participants. while public blockchains agree on a particular protocol they seek to be BFT, hyperledger network participants don’t necessary need to operate in a trustless environment considering they can be a part of a consortium or even different verticals from within a company.