Hyperledger Intro - Reading Assignment

Blockchain Business Course
#102

1. What started the large interest in permissioned blockchain technologies such as Hyperledger?
Cryptocurrencies started this interest in blockchain but the permissioned ones are looked bit more closely by business because they allow the blockchain to be controlled “for security purposes” and make sure KYC and AML are respected.

2. Why are the popular public blockchains not suitable for business use cases?
Because you cannot control the public blockchain and because businesses have to follow different laws like ,as mentioned in the video,the Anti Money Laundering one.

3. What programming languages can be used to write smart contracts on Hyperledger Fabric?
Most commonly Java and Node.Js but Go as well.

4. What does it mean to have support for “pluggable consensus protocols”?
This means that protocols could be changed/customized based on different needs and cases.

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#103
  1. What started the large interest in permissioned blockchain technologies such as Hyperledger?
    Participants must be identified/identifiable in regards to AML regulations and KYC procedures.
  2. Why are the popular public blockchains not suitable for business use cases?
    because the identity of the participants is not known
  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
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#104
  1. Enterprises had use cases that required different characteristics than what permissionless blockchain could offer.
  2. Business use cases that make public blockchains impractical include; the use of a crypto, the lack of need for BFT, KYC & AML, corporate secrecy, the need for trusted parties.
  3. General-Purpose Programming Languages, such as; Java, Go, and Node.js
  4. In regards to use-cases and trust models, having support for “pluggable consensus protocols” can add; options, functionality, and, efficiencies to meet enterprise requirements.
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#105
  1. Permissioned blockchains like hyperledger draw interest from enterprises because it was designed for them.
  2. Outside of financial transaction most public blockchain are not useful for business because the data is public, there not easy to integrate into existing processes and there expensive to maintain.
  3. General purpose programming languages like Java, Go, Node.js can be used to create smart contracts with Hyperledger Fabric.
  4. Having support for pluggable consensus protocols gives enterprises the flex-abilities to tailor there chains for there specific needs.
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#106

  1. As popularity of Bitcoin, Ethereum and some other altcoins turned on, business also started to get interested in underlaying technology, the blockchain.

  2. A lot of use cases in business require identification of users wich open blockchain does’nt have. For business use case we have to consider that participants must be identifiable, networks need to be permissioned, high transaction throughput performance and high accessability.

  3. Java and Java Script.

  4. Hyperledger enable their technical platform to be more effectively customized to fit particular use cases.

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#107

  1. 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 .

  2. Why are the popular public blockchains not suitable for business use cases?
    Enterprise use cases require performance characteristics that the permissionless blockchain technologies are unable to deliver.

  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.

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#108

  1. Bitcoin and Ethereum started the interest in blockchain tecnlogy and commercial enterprises tried to adapt this technology into permissioned blockchain for business purposes.

  2. Because public blockchains are too transparent, not fastand not controllable.

  3. Go, Java and Node.js

  4. It means to have more power of customization to fit needs.

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#109
  1. The wish to have full control and ownership of blockchain projects and implementations.
  2. Because of the participants anonymous identity and their lack of speed.
  3. Java, Go, Node.js
  4. The consensus protocol/algorithm can be customized, modified and interchanged.
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#110

  1. What started the large interest in permissioned blockchain technologies such as Hyperledger?
    The concept that a company can have the benefits of the blockchain whilst also maintaining company confidentiality, control and governance.

  2. Why are the popular public blockchains not suitable for business use cases?
    Public blockchains are not considered suitable for business due to the fact that businesses require confidentiality in many aspects of their company and their competitors. In addition, the need for trust within a business is required amongst selected participants as opposed to a trust-less network of anonymous nodes.

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

  4. What does it mean to have support for “pluggable consensus protocols”?
    Pluggable consensus protocols mean the ability to customise modular programs suited to a particular business requirement.

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#111
  1. The need to trace identity(KYC) and performance.
  2. Public blockchain does not comply with regulatory requirements.
  3. Go and Node.js
  4. It means that consensus also can be modified based on the needs.
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#112

  1. 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.

  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, as well as identity requirements.

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

  4. What does it mean to have support for “pluggable consensus protocols”?
    The ability to customize the platform for different use cases and trust cases

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#113

1] The popularity of Bitcoin, Ethereum and other derivative technologies drove the interest in permissioned blockchain
2] Bitcoin and Ethereum
3] java, Go, and Node.js
4] It enables the platform to be more effectively customized to fit particular use cases and trust models.crash sensitive fault-tolerant consensus may be adequate for single organisations

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#114
  1. Popular public permissionless blockchain projects, such as BTC and ETH and other derivative technologies sparked a large interest in permissioned blockchain.
  2. Many enterprises cannot adopt some of the characteristics of a public blockchain, such as anonymity, for example, and, therefore, have a need for its own private blockchain.
  3. NodeJS, Go, Java
  4. It enables a platform to be more effectively customized to fit particular use cases and trust models.
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#115

  1. What started the large interest in permissioned blockchain technologies such as Hyperledger?
    The necessity of having enterprise grade solutions tailored to business needs.

  2. Why are the popular public blockchains not suitable for business use cases?
    Due to the fact the the data is available to all nodes, all information is public and available to anyone, hence business secrets or agreements are not secret anymore.

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

  4. What does it mean to have support for “pluggable consensus protocols”?
    Depending on application, an entity might need a CFT or a BFT consensus, BFT requiring a lot of computational resources is not optimal for all implementations, hence some participants might need only CFT to reach consensus.

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#116

  1. What started the large interest in permissioned blockchain technologies such as Hyperledger? Distributed ledger technology with Bitcoin and Ethereum started the interest in blockchains. They however were permissionless and did not satisfy enterprise use cases. This led to demand starting for permissioned blockchains with different characteristics.

  2. Why are the popular public blockchains not suitable for business use cases?
    The lack of performance, lack of knowing the specific identity of users( for KYC/AML), low transaction throughput, inadequate privacy for commercial/competitive reasons.

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

  4. What does it mean to have support for “pluggable consensus protocols”? It means the permissioned blockchain users can decide to adjust or change the consensus mechanism, by mutual agreement, to suit their collective needs. This is possible since there is an element of trust in a permissioned blockchain since it is operated by a known entity or organization.

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#117

1 and 2- Many enterprise use cases require performance characteristics that the permissionless blockchain technologies were unable to deliver 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.

3- Java, Go and Node.Js

4- Hyperledger can be flexible in their consensus algorithem.

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#118

  • What started the large interest in permissioned blockchain technologies such as Hyperledger?
    -With the popularity and interest growing from decentralized blockchains such as BTC more use cases for business enterprises became apparent providing such features as privacy / tiered access / KYC & AML compliant / faster transactions / cost effectiveness / simple consensus

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

  • Smart contracts are visible to all nodes reducing privacy
  • Performance compromises
  • Cost
  • Scalability
  • 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”?
  • Option to run CFT and/or BFT protocols depending on the use case or trust model
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#119

Answer for question 2 is BTC or ETH

#120

Participants must be identified/identifiable (KYC/ALM)
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. mainly because participants are anonymous
  2. Java, nodes.js, go
  3. Modular and configurable architecture that facilitates consensus (easier execution than in public BC)
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#121

And question 2 is?

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

Ivo