Hyperledger Intro - Reading Assignment

Blockchain Business Course
#162
  1. The interest in permissioned BC technologies was for the underlying technology of having an immutable transaction record.
  2. The public BC’s are not suitable for business use cases as the information stored is publicly open for anyone to see and it participation is unfiltered. Business need to maintain some level of privacy and recognition of who they are dealing with. There is also the case that it is difficult to maintain compliance with rules & regulations.
  3. Currently Node.JS and Go. Development to make others available are in progress such as Java.
  4. “Pluggable Consensus Protocols” mean that the consensus can be adapted for the businesses needs.
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#163

Business can benefit from blockchain-technology, but don’t have to cope with elements, they don’t like or can’t accept (slow, cryptocurrency not needed, everybody can take part and secure the net(trustless), etc) or not fullfil their requirements (speed, private)

2)public blockchains are not private, trustless, expensive to maintain, and slow

  1. originally it was go. but it has been extended in the meantime with javascript and java. so business already have the knowledge to build chaincode (as oposed to solity/ethereum for example)

4)it can be easier customized and adjusted to the required rules

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#164
  1. Interest in applying the underlying technology of the blockchain, distributed ledger, and distributed application platform to more innovative enterprise use cases also grew. However, permissionless blockchain technologies are unable (presently) to deliver many enterprise use cases and characteristics. 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 about business transactions

While many new blockchain platforms are currently being adapted for enterprise use, Hyperledger Fabric has been designed for enterprise use from the outset.

  • Lack of confidentiality can be problematic for many business/enterprise use cases.
  • Given enough time and computational resources, the encryption could be broken.
  • Slower transactions and performance.
  • No governance over as anyone on the network has access.

  1. Fabric is the first distributed ledger platform to support smart contracts authored in general-purpose programming languages such as Java, Go, and Node.js.

  2. Plugable consensus protocol can be tailored to the trust assumptions for a particular solution.

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#165

  1. Blockchain adoption in enterprise and business was the main reason for the development of hyperledger blockchain technologies.

  2. Public blockchains are not suitable for business use cases because enterprise may have business secrets that they do not want everyone to have access too. The article also talks about how different financial transactions may require KYC and other regulations that the business may have difficulty with while using a public blockchain, since all you need is a wallet address and you may not provide such information easily to the business.

  3. General use programming languages like Java, Go, and Nod.js can be used to create smart contracts on hyperledger.

  4. Pluggable consensus protocols “enable platforms to be more effectively customized to fit particular use cases and trust models.”

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#166
  1. What started the large interest in permissioned blockchain technologies such as Hyperledger?
    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?
    Businesses need “finer” control:
    • Participants must be identified/identifiable
    • Networks need to be permissioned
    • High transaction throughput performance is needed
    • 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?
    General-purpose programming languages (Java, Go and Node.js)
  4. What does it mean to have support for “pluggable consensus protocols”?
    Customizability for particular use cases and trust models
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#167
  1. as the enterprise need more addition in performance characteristic to adapt the underlying technology of blockchain with their needs.
  2. most of the business use cases need more control of selecting nodes, that are not part of the public blockchain characteristic.
  3. Java, Go, and Node.Js
  4. it means more effectively customized to fit particular use cases and trust model.
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#168
  1. Need for a blockchain database where participants are identifiable, performance, low latency and confidentiality may be required
  2. Bitcoin and Ethereum
  3. Java, God and Node.js
  4. To allow for consensus requirements that are custom fit to the application
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#169

  1. Interest for companies is in a blockchain technology is to be more efficient and save money by using all of the performance and security characteristics without the ones that slow it down, make it difficult to use or too costly. EG: Removing the need for mining or having a currency/value component.

  2. Public block chains are not suitable for business because they are too resource hungry, slow and costly to set up, making the move to them not viable or useful enough. Plus most are too transparent and not changeable or modifiable to each business.

  3. Java, Go, NodeJS

  4. Support for Pluggable Consensus Protocol means businesses can use “Best Fit” protocols for their particular use case or trust model. eg: CFT or BFT (so not bound by an existing one locked into the blockchain).

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#170
  • What started the large interest in permissioned blockchain technologies such as Hyperledger?
    The differentiating capabilities of the permissioned blockchain compared to the permission less blockchain. Such as KYC or AML.
  • Why are the popular public blockchains not suitable for business use cases?
    The lack of data true put, the lack of control ability, the complexity.
  • 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”?
    To be able to effectively customize specific use cases.
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#171

  1. Enterprise use cases require performance characteristics that the permissionless blockchain technologies are unable (presently) to deliver.

  2. 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. They can be programmed in Java, Python, GO, and Node.JS as a few examples.

  4. It enables the platform to be more effectively customized to fit particular enterprise use cases and trust models.

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#172

What started the large interest in permissioned blockchain technologies such as Hyperledger?
Many attributes of the public permissionless blockchain were attractive to enterprise users, however the lack of permission, public visibility, speed, and anonymous use required an alternative permissioned approach.

Why are the popular public blockchains not suitable for business use cases?
The public blockchains are permissionless, a business would want to limit access, visibility, and allow only known entities use their blockchains

What programming languages can be used to write smart contracts on Hyperledger Fabric?
Several well known general purpose languages, that are already used in the enterprise - Java, Go, and NodeJs

What does it mean to have support for “pluggable consensus protocols”?
The users/architect of a new Hyperledger implementation can choose a consensus protocol for their chain. You are not limited to one or two hardcoded implementations for consensus, you can plug in (or wrote) a solution applicable for your project.

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#173
  1. The creation of Bitcoin and Etherium
  2. Because in many cases anti money laundering laws have to be applied or KYC procedures to be followed.
  3. Java, Go and Node.js
  4. They enable the platform to be more effectively customized to fit particular use cases and trust models.
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#174

  1. The bitcoin hype created attention and interest in the uderlying blockchain technology.

  2. Too expensive, too slow, public, bad PR (money-laundering, energy consumption), not flexible

  3. Among others: Java, Go, NodeJS

  4. It allows customization for particular use cases and different trust models

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#175

  1. What started the large interest in permissioned blockchain technologies such as Hyperledger?
    The interest in permissioned blockchain is related to the fact that participants know each others, low latency of transaction confirmation and there is privacy and confidentiality of transactions.

  2. Why are the popular public blockchains not suitable for business use cases?
    They are not suitable because public blockchains are open to anyone and they are very slow.

  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”?
    Having the “pluggable consensus protocols” means that the platform can be customized for use cases and and trust models. This modular system allows the platform to rely on well-established toolkits for CFT (crash fault-tolerant) or BFT (byzantine fault-tolerant) ordering.

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#176

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

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

  • 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 and Node.js

4.What does it mean to have support for “pluggable consensus protocols”?
A platform that is more effectively customized to fit particular use cases and trust models.

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#177

  1. Business want to use blockchain however due to regulations and business preferences permissioned blockchains where created.

  2. Business could needa better performance and may want to have code and other information not open to the public.

  3. java, go and node.js

  4. it means to have a protocol for consensus that is modular and decoupled from the peers that execute transactions and maintain the ledger. Allowing a consensus solution to be tailored to the need.

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#178

  1. The popularity of Bitcoin and Ethereum, started to interest companies on applying the technology, but with better performance and identifying who uses it.

  2. The popular public blockchains are not suitable for business cases because they lack some performance characteristics such as high transaction throughput performance and low latency of transaction confirmation, every participant must be identifiable, and privacy and confidentiality of transactions and data.

  3. To write smart contracts on Hyperledger Fabric you can use Java, Go, Node.js, Python, and other general-purpose programming languages.

  4. Support for “pluggable consensus protocols” means that you can enable the platform to be more effectively customized to fit particular use cases and trust models.

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#179

Glenn_CostaRica

1. What started the large interest in permissioned blockchain technologies such as Hyperledger?
As opposed to public distributed networks, the permissioned blockchain technologies allow the existence of owners and administrators of the system. This is true even if ownership and administration rights are distributed among the nodes. With private blockchains, a closed set of nodes can share control of a system. Since here one can have as much closeness and privacy as desired, the system is ideal to keep track of sensitive data related to all customers, to the same validator nodes and to all users in general. A private blockchain can be used to store detailed information related to the IDs of people and their transactions. Confidentiality is seen as a form of value in this paradigm. Besides privacy and confidentiality, other features make private platforms more attractive for some business managers: speed (number of transactions per second), scalability, non-finality (reversibility of transactions) and low relative complexity.

2. Why are the popular public blockchains not suitable for business use cases?
Many businesses suffer when considering if using a public blockchain or not. Even if, in some cases, there is some inherent attractiveness, there are still many cons: organizations like regular companies experiment fear of not being compliant with their local laws, they might not be able to keep track of identities or conduct KYC on each customer, they might violate some local requirement related to AML control or could even offend their authorities or local communities by using a decentralized cryptocurrency.

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

4. What does it mean to have support for “pluggable consensus protocols”?
Pluggable consensus protocols is a property of Hyperledger Fabric where different models of consensus can be built based on modularity making this paradigm highly customizable for particular organizations’ needs. Thanks to this, Hyperledger Fabric adapts to a wide variety of types of potential use-cases.

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#180

What started the large interest in permissioned blockchain technologies such as Hyperledger?
Applying the new blockchain technologies to a business environment

Why are the popular public blockchains not suitable for business use cases?
Many businesses require performance characteristics that the permissionless blockchain technologies are unable (presently) to deliver, also 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.

What programming languages can be used to write smart contracts on Hyperledger Fabric?
Smart contracts can be authored in general-purpose programming languages such as Java, Go and Node.js (not just Solidity)

What does it mean to have support for “pluggable consensus protocols”?
This is one of Fabric’s modular features, that enable the platform to be more effectively customized to fit particular use cases and trust models. A multi-party, decentralized business network might require a more involved consensus protocol than a single business operated by a trusted authority

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#181

1. What started the large interest in permissioned blockchain technologies such as Hyperledger?
Businesses were interested in the blockchain technology, but the popular public blockchains didn’t allow a full control and ownership of the projects.
2. Why are the popular public blockchains not suitable for business use cases?
Because on public the public blockchain everything is transparent and permissionless. Furthermore, the transaction confirmations are slow and the businesses cannot have a full control over the blockchain.
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”?
It allows the platform to be more effectively customized to fit particular use cases and trust models

1 Like