Hyperledger Intro - Reading Assignment

Blockchain Business Course
#122

As they are decentralized and permissionless
Less scalability
Slower for security

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#123
  1. The need for specific build block chains for different organisational requirements requiring fast and efficient throughput.
  2. Public block chains are still in the grey area regarding the laws and businesses need to follow certain laws to operate such as KYC & AML. Businesses need all participants to be identifiable and the networks to have permission to interact.
  3. Java, Go Node.js
  4. enables the platform to effectively customize or upgrade to the particular use cases pertaining the the business model where the block chain is implemented
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#124

1. What started the large interest in permissioned blockchain technologies such as Hyperledger?
The success of Bitcoin and Ethereum started the large interest in blockchain and in new technologies in general. Hyperledger has adapted the concept of blockchain to meet the specific needs of business use cases such as permissioned network, high transaction throughput performance, confidentiality etc. Hyperledger can be implemented in many industries, which is why it is so popular.

2. Why are the popular public blockchains not suitable for business use cases?
Blockchains suitable for business use cases, unlike popular public blockchains, must have at least the following features: an authorized network, a high transaction speed, privacy and confidentiality protection.

3. What programming languages can be used to write smart contracts on Hyperledger Fabric?
The programming languages that can be used to write chaincode in Hyperledger Fabric are Java, Go and Node.JS.

4. What does it mean to have support for “pluggable consensus protocols”?
Support for “pluggable consensus protocols” provides the ability to customize consensus protocols by adapting them to the specific needs of the enterprise.

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#125
  1. The desire share confidential data between business entities.
  2. In public blockchains, everybody can see the information that is stored. This is not desirable for businesses.
  3. Node.js and something else
  4. Allows for more customization for specific use cases
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#126
  1. At first, the increase in popularity around cryptocurrencies made the blockchain technology interesting for businesses, as they aimed at innovating through this new technology. This happened for actual transparency and integrity needs but also for marketing reasons. However, companies realized that a permissionless blockchain would not allow them to be enough in control, so they started considering permissioned blockchains.
  2. Bitcoin is not really suitable, while Ethereum could actually be used by business (and it has been in some cases, for example in Italy it is used - poorly - for ANSACheck and some supply chain tracking experiments) but companies generally prefer permissioned ones.
  3. General-purpose programming languages, such as Java, Go and Node.js, which can also be used for other applications.
  4. It means that members that can execute transactions and maintain the ledger are not allowed to order transactions, which is a part of the process delegated to a decoupled modular component of the consensus mechanism. Thanks to this modularity and decoupling it is possible to build the trusting and consensus mechanism on the basis of specific business needs.
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#127
  1. Participants must be identified/identifiable through KYC and AML regulations.
  2. High transaction throughput, privacy and confidentiality of transactions and data.
    Identity of participants is a hard requirement.
  3. Languages for writing smart contracts on Hyperledger Fabric include- Java, Go and Node.js
  4. Supporting pluggable consensus protocols enable the platform to be effectively customized to fit particular use cases and trust models.
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#128

  1. Companies recognized the disruptive potential of the blockchain, but a public blockchain is too slow, expensive, and too open public. Companies cannot share every information to everywone. This is why they are interested in permissioned blockchains. With such blockchains only approved/trusted members are allowed to participated in the network. Everyone knows each other but the companies have still the control about the data(information, value, transaction) they want to share. Because of the structure of permissioned blockchain (requires less nodes) it is more scalable, cheaper to build and maintain as well as more private

  2. As I said before public blockchains are slow (because of consensus and its decentralized structure), expensive (because a financial incentive is needed), difficult to scale, more costly to implement and maintain and have not enough privacy.

  3. Java, Go, Node.js

  4. Through the approach of pluggable consensus protocol the network/ permissioned blockchain it is possible to switch or use different consensus protocols. For some reasons they can use a consensus protocol where less nodes are required (CFT) to validate transactions because the scalability and speed is important (performance and amount of transactions). And in some other cases they want to have a more decentralized decision where all approved nodes are required then they could implement a different consensus protocol (BFT). That makes Hyperledger very flexible.

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#129
  1. The realization that the permisionless blockchain such as Bitcoin and Ethereum have a great robust networks but there are some limitations in terms of confidentiality data. Enterprises or companies need to have control of their informatin and be able to identified participants to do business.
    2.The treason why public blockchain is not suitable is because of its scalability to handle transactions, low throughput and high latency as well as confidentiality for sensitive enterprise data to be probagated publicly.
  2. Hyperledger Fabric blockchain used java script,Go and Nodes.js.
  3. It means that “pluggable consensus protocols” can be tailored base on trust assumption to achieve better results.
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#130

1.The popularity of Bitcoin, Ethereum and a few other derivative technologies grew, the interest in applying the underlying technology of the blockchain, distributed ledger and distributed application platform to more innovative enterprise use cases also grew. However, 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.The anonymity of users are not suitable for business use cases.

3, Phyton, Go and Java

  1. Pluggable consensus protocols enables the platform to be more effectively customized to fit particular use cases and trust models.
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#131

More and more businesses, companies started to adapt it, so it’s started to grow.
2.
In public, for example all data is available to everyone. Businesses likes to be more private at some point.
Transactions are slower in Public blockchains, therefore less accurate for big business corporations.
3.
Java, Go, Node.js
4.
Enables the platform to be more effectively customized to fit particular use cases and trust models, trough the right application of byzantine fault tolerant consensus protocol, or a crash fault tolerant consensus protocol.

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#132

  1. The development of distributed ledger technology and all of it’s advantages started the interest in permissioned blockchain use.

  2. The nature of public blockchains being immutable and trustless makes them slow and inefficient for business use. Businesses cannot control their data, have no control over the protocol, do not like being associated with cryptocurrency platforms. It can be difficult and expensive to integrate businesses with public blockchains. Also businesses could run into problems with rules and regulations when using public blockchains.

3.Java, Go, Node.JS

4.It allows Hyperledger fabric to be customised to fit different business use cases easily.

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#133

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

A large interest in blockchain technologies was caused by the diffusion of the permissionless blockchain like BTC and ETH. Anyway for some reasons permissionless blockchain are not suitable for business use. This pushed the development of permissioned blockchain.

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

Companies need that their data should be: 1) Private 2) Trusted 3) Cost effective 4) Easy to integrate 5) Effective 6) Compliant with rules and regulation and 7) Having a good PR A permissioned blockchain can solve such problems

What programming languages can be used to write smart contracts on Hyperledger Fabric?

Node.js, Go and Java.

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

Support for ‘pluggable consensus protocols’ provides the ability to customize which consensus protocol to use based on the requirements of the use case

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#134

  1. Business were interested in the underlying technology of the blockchain. But many enterprise use cases require performance characteristics that the permissionless blockchain technologies are unable (presently) to deliver.

  2. For business purposes, the foundations of public blockchains are not suitable. They’re public and permissionless, slow transaction performance and confirmation, have no governance, and there is no privacy or confidentiality of data or transactions.

  3. Java, GO, Node.js

  4. Enables the platform to be more effectively customized to fit the particular cases and trust models.

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#135

1. 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.

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

  • Everything is transparent - there is no privacy or confidentiality of data or transactions
  • Networks are permissionless
  • Slower transaction performance and confirmation
  • Open governance

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”?

Enables the platform to be more effectively customized to fit particular use cases and trust models.

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#136

1)What started the large interest in permissioned blockchain technologies such as Hyperledger?
To maintain control, identify participants( AML and KYC guidlelines). It also allows high performance, scalability with low latency
2)Why are the popular public blockchains not suitable for business use cases?
Most businessses requires the identify the participants according to AML and KYC guidelines however public blockchains provides anonymity. Also,
public blockchains have slow throughput and high latency
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”?
Pluggable consensus protocols provides agility to the platform to be more effectively customized to fit particular use cases and trust models.

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#137
  1. The largest interest resided in leveraging blockchain technologies for entreprise purposes
  2. Bitcoin and Ethereum are public blockchain not suitable for entreprise because of:
  • poor performance due to the consensus protocol
  • high learning curve due to custom programming languages
  • need to know participants in a network
  1. In Hyperledger Fabric, JavaScript, Node.js and Go are usable programming language for smart contracts
  2. “Pluggable consensus protocols” means to adapt the way informations is validated withing a business or a network of business depending on the level of trust
#138
  1. What started the large interest in permissioned blockchain technologies such as Hyperledger?
    Applying the underlying technology of the blockchain, distributed ledger and distributed application platform to more innovative enterprise 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.
  2. Why are the popular public blockchains not suitable for business use cases?
    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
  1. What programming languages can be used to write smart contracts on Hyperledger Fabric?
    General-purpose programming languages such as Java, Go and Node.js.
  2. What does it mean to have support for “pluggable consensus protocols”?
    It enables the platform to be more effectively customized to fit particular use cases and trust models.
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#139

  1. The interest in permissioned blockchain technology really started as awareness and interest in permissionless blockchains such as Ethereum & Bitcoin grew, resulting in an interest in the underlying technology. It was also because the use cases in business were becoming more apparent along with the limitations of the permissionless chains and the needs of businesses which permissionless chains were not able to fulfil.

  2. Popular public blockchains are not always suitable for business use cases because:

  • The nodes which validate data/transactions on the chain are anonymous and in the case of enterprises trusted validators are needed - this is because they are reliant on a trusted network of participants and some form of governance. Also often KYC means that businesses need to know their customers whereas on Ethereum and Bitcoin users are often anonymous.
  • Many use cases for blockchain in business can be when handling sensitive information such as transactional data, where privacy and confidentiality are needed. This is not something that public blockchains are able to achieve without anonymity. Also sensitive data such as healthcare records or personal information should not be made public for all to see.
  • Permissionless blokchains such as Ethereum and Bitcoin can have a high latency which can mean transactions can be slow and in businesses need quicker sharing of information and confirmation of transactions.
    *There is not enough efficiency and optimisation of these public chains for use within a single business or between a few businesses, they will be able to save time and costs using a private chain which can be more finely attuned to their needs with more customisation and a different consensus protocol if necessary.

  1. Node.js Java, Go

  2. Support for pluggable consensus protocols means that the permissioned blockchain (Hyperledger Fabric) is able to uses a different consensus protocol that is more optimised for the use case of the business, they can use either the traditional style consesus protocol seen on chains such as bitcoin byzantine fault tolerant consensus or if for a single company to use within a Crash fault tolerant consensus can be used

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#140
  1. What started the large interest in permissioned blockchain technologies such as Hyperledger?
    Popularity of Bitcoin, Ethereum and other blockchain technologies.
  2. Why are the popular public blockchains not suitable for business use cases?
    Public blockchains can lack the performance, security, and participant identity features that are needed in most enterprise use cases.
  3. What programming languages can be used to write smart contracts on Hyperledger Fabric?
    Hyperledger Fabric uses general purpose programming languages like Java and Node.js.
  4. What does it mean to have support for “pluggable consensus protocols”?
    It enables the platform to be more effectively customized to fit particular use cases and trust models.
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#141
  1. What started the large interest in permissioned blockchain technologies such as Hyperledger?

The need of companies for a more private and controllable, permission based Blockchain.

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

The lack of private data, the need for mining and the cost needed to run public Blockchains were some of the reasons why they are not suitable for enterprises. Also they are not easy to integrate as they run on separate languages, may not be compliant with all the rules and regulations, and require cryptocurrencies to achieve consensus

  1. What programming languages can be used to write smart contracts on Hyperledger Fabric?

Can be written in Go, JavaScript (node. js)

  1. 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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