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What started the large interest in permissioned blockchain technologies such as Hyperledger?
Enterprises wanted to take advantage of the underlying technology, the distributed ledger and smart application. But needed abilities that public BCs did not support - e.g., KYC and AML. -
Why are the popular public blockchains not suitable for business use cases?
Not scaleable, doesnt support KYC/AML, and is too transparent. -
What programming languages can be used to write smart contracts on Hyperledger Fabric?
General purpose languages such as Java, Go, and Node.js -
What does it mean to have support for âpluggable consensus protocolsâ?
Enterprises can choose which consensus protocol is most approriate for them. May not need one that is as decentralised or byzantine fault tolerant.
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- What started the large interest in permissioned blockchain technologies such as Hyperledger?
The need for more security and no need for mining - Why are the popular public blockchains not suitable for business use cases?
Privacy of transactions
All participants must be identified
Slower than private blockchain - 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 âpluggable consensus protocolsâ?
Enables the platform to be more effectively customized to fit particular use cases and trust models.
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The need to ensure privacy within transactions.
Because access cannot be controlled or privacy of transcations ensured.
go, node.js. java
It enables the platform to be customised
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Easy customization of the blockchain protocol, participants are identifiable, high transaction performance and low latency, more control over data access, permissioned network, easier compliance to KYC and AML regulations.
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All ledger information is public, risk of disclosure of sensitive information, the low performance of decentralized consensus, not able to comply with KYC and AML regulations, allow potential malicious participants to integrate the blockchain, intensive use of energy, and costs to incentivize participants, to be honest.
3.
Node.JS, Java, and Go.
4.
It uses optionally and selectable algorithmics switches, so Its implementation can be tailored to the specific needs of the business.
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- The ability to identify participants, have a permissioned network, high number of transactions, and have confidentiality for the data on the blockchain.
- Primarily because of lack of identity required of KYC in banking and anti money laundering coupled with performance characteristics like ability to scale.
- Java, Go and Node.js
- Can enable the platform to be more effectively customized to fit for particular use cases
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The main use case for hyperledger is to trace the identity of the entity joining the blockchain.
Public blockchains are anonymous.
Hyperledger smart contracts can be programmed in GO, Java and Python.
Pluggable consensus protocols allow for greater versatility across use cases
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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 -
Because they lack the abilities in answer 1 above.
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Common well used programs such as: NodeJS, Java and Go.
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Main program can use easily added modular programs to facilitate customized consensus code to fit specific use cases.
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What started the large interest in permissioned blockchain technologies such as Hyperledger?
Businesses got interested in applying the underlying technology of the blockchain from bitcoin and ethereum. But they need som privacy such as:
- Participants need to be identified/identifiable
- The network needs to be permissioned
Why are the popular public blockchains not suitable for business use cases?
They are not suitable for regulatory and performance needs. They lack the needs mentioned in answer above, and;
- 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?
It enables the platform to be more effectively customized to fit particular use cases and trust models.
1 Like
What started the large interest in permissioned blockchain technologies such as Hyperledger?
Enterprises (companies) want to perform actions which are not possible on Public permissionless BCs.
Why are the popular public blockchains not suitable for business use cases?
For businesses public blockchains are not suitable due to privacy, control and limited performance characteristics.
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?
This allows customization in order to support various use cases. Some may require different levels of trust for instance.
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- Requirement of Cost efficient but reliable ledger system which can work in many environment
- Latency due to mining, cryptocurrency and exposure of the sensitive information and anonymity of the participants
- JAVA, GO and Node.js
- Pluggable consensus protocol support means it can be customized according tot the other systems and security model
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1. What started the large interest in permissioned blockchain technologies such as Hyperledger?
It allow business to design their own blockchain with private rules, such as participants must be identified/identifiable (KYC & AML), privacy and confidentiality on transactions data, do not require a native cryptocurency reducing cost on hardware and significant risk/attacks from malicious players.
2. Why are the popular public blockchains not suitable for business use cases?
Public blockchain are designed to allow any kind of participants to use the network, transaction verification can be slow due to validation on blocks, constant changes on the network are not allowed, making hard to deploy any need of an enterprise, control over the network is distributed by many participants, meaning the control over the data is not possible by a public blockchain.
3. What programming languages can be used to write smart contracts on Hyperledger Fabric?
Java, Go, NodeJs
4. What does it mean to have support for âpluggable consensus protocolsâ?
Hyperledger is specifically architected to have a modular architecture, meaning some features are treated has components that can be âpluged or unplugedâ from the structure, performing more efficiently for different use cases since you can âselectâ which components you need.
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What started the large interest in permissioned blockchain technologies such as Hyperledger?
Business could see the value in blockchain, but needed a model where participants would be known, allow for high speeds, low latency, and privacy/confidentiality of the data. This was not available from public PoW blockchains -
Why are the popular public blockchains not suitable for business use cases?
Smart contracts and transactions are completely visible to all.
The networks and parties are not known (problems with KYC/AML)
The consensus model for PoW is slower
Most blockchains have domain specific languages -
What programming languages can be used to write smart contracts on Hyperledger Fabric?
Go and Node.js - java to be released later -
What does it mean to have support for âpluggable consensus protocolsâ?
It allows for different consensus models to be used instead of ones like PoW and can be customized to fit the specific use case
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1 - 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 - Performance, and need or privacy
3 - Go and Node.js
4- That the consensus protocol could be setted up (customized) for the current needs of the particular application.
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What started the large interest in permissioned blockchain technologies such as Hyperledger?
Interest in applying the underlying technology of the blockchain, distributed ledger and distributed application platform -
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:
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
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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 âpluggable consensus protocolsâ?
enable the platform to be more effectively customized to fit particular use cases and trust models.
1 Like
1. What started the large interest in permissioned blockchain technologies such as Hyperledger? While permisionless and decentralized blockchains like bitcoin had some attractive aspects such as the elimination of third parties, an icorruptable ledger, and greater security, businesses found some characteristics of a decentralized blockchain were not practicle for their needs. And so the Hyperledger was created as a sort of âmiddlegroundâ between tranditional databases and blockchain ledgers.
2. Why are the popular public blockchains not suitable for business use cases? In respect to business needs, some blockchains are too inefficient, difficult to manage and build, expensive and do not give the business entity enough control. Additionally, many businesses need, privacy, trust, cost-effectiveness, efficient, effective-compliant with rules & regulations such as KYC & AML requierements, and ease of intergration.
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 âpluggable consensus protocols? Support for pluggable consensus protocols is an important differentiator as âit enables the platform to be more ffectively customized to fit particlular use cases and trust models.â
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- The popularity Bitcoin, Ethereum and a few other derivative technologies.
- Permissionless blockchains fall short to the needs of enterprises in terms of privacy, performance, and confidentiality.
- Go or Node.JS.
- Depending on the business need, the consensus protocol can be designed for optimal performance. So you can have a custom protocol for each use case within the enterprise, which is more flexible then the fixed open blockchain protocols.
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What started the large interest in permissioned blockchain technologies such as Hyperledger?
The rise of distributed ledger technologies that underpin Bitcoin and Ethereum created increased interest in applying these technologies to business use-cases. -
Why are the popular public blockchains not suitable for business use cases?
The transaction data is nut fully private, they are not as fast and the transaction latency is slow and the participants are not known, to name a few. -
What programming languages can be used to write smart contracts on Hyperledger Fabric?
Java or Node.js for example. -
What does it mean to have support for âpluggable consensus protocolsâ?
It allows for the use of different consensus protocols according to the needs of a specific business use-case.
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The requirements of high performance and regulations such as KYC and AML.
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Public blockchains do not comply to most regulation requirements and the participants are anonymous.
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Java, Go and Node.js
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Having a modular architecture that can be configured to have various components such as ordering service, membership service, smart contracts, validation policy and so on.
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The grew of popularity in Bitcoin and Ethereum and the need or idea to imply a blockchain to a business
Because customers shouldnât be anonymous, the latency of transaction performances is too high
General purpose programming languages like: java, go, node.js, âŚ
It makes Hyperledger Fabric very flexable to use. You can choose your consensus based on your needs/situation
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With the advent of the public DLTs [Distributed Ledger Technologies] like Bitcoin & Ethereum, a demand came about for similar blockchain tech that was âenterprise-gradeâ. Commercial enterprises have different needs that public blockchains are not specifically designed for. Rather than bringing diverse technologies together, enterprise-grade blockchain applications were needed. Fun fact - Hyperledger is guided by open governance via the Linux Foundation.
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Public blockchains were not designed for business needs per se. There are many reasons to not use a public blockchain in commercial enterprise, ranging from inappropriate transparency, to no restrictions on access, as well as un-necessary mining and consensus incentivization which is not needed with trusted and authorised participants [eg nodes].
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Hyperledgerâs Fabric is able to support these new types of functions [smart contracts etc] because in Fabric, common languages like Java, Go & Node.js can be used without having to learn new languages [like Ethereumâs Solidity] in order to issue smart contracts etc. Ethereumâs Solidity language would be known, in this case, as a DSL: Domain Specific Language.
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PCP, or Pluggable Consensus Protocols, is an attribute of Fabric that allows customisation of consensus protocols on the network. As there is no mining or actual cryptocurrency involved in greasing the system [incentivising], and as different enterprises will have different needs, it is possible to calibrate the deployment to various consensus protocols, which have different attributes.
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