Hyperledger Intro - Reading Assignment


#22
  1. What started the large interest in permissioned blockchain technologies such as Hyperledger?
    Enterprise level blockchain requires a closed network, with trusted nodes, privilidges of the governor. Thus permissioned blockchain tech such as Hyperledger born.

  2. Why are the popular public blockchains not suitable for business use cases?
    Permissionless blockchain is transparent, open to any node, governs with majority consensus. Anyone can see the the details of the smart contracts(business agreements)

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

  4. What does it mean to have support for “pluggable consensus protocols”?
    Different consensus protocols may be applied to the different application side of the same blockchain.


#23
  1. The need to control security (who participates) in the block-chain network and the need to not burn electricity while mining, faster transaction time than public block-chains - the need for centralization in order to protect proprietary data

  2. Slow transactions time / Burn electricity by Mining / Even dough public block-chains are extremely secure in a private block-chain that might not be a requirement

  3. Known programming languages like Go / Java / Python

  4. Flexibility to switch/implement consensus protocols that work best for your case. The platform can work with a multitude of consensus protocols


#24

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

Because enterprises need blockchain technologies meet the following:

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

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

Because there are public networks, open to anyone, where participants interact anonymously. 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.

The performance characteristics of permissionless blockchain technologies are currently unable to deliver the performance that is required by enterprise consumers.

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 "pluggable consensus protocols"?

There is not just one consensus model available, the organization is able to add (plugin) the consensus protocol which is the best fit and performance for the nature of their organizational structure.


#25

1. What started the large interest in permissioned blockchain technologies such as Hyperledger?
Need for performance, better control, user identification, heirarchical control, privacy and confidentiality of transactions and data pertaining to business transactions

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”?
It is the ability to switch the consensus protocol based on the use case and stakeholders.


#26
  1. What started the large interest in permissioned blockchain technologies such as Hyperledger?
  • Forward thinking organisations looking to adapt to the disruptive nature of distributed ledger technology. The permissioned blockchain currently offers the best innovative incentive for business use cases, boosting operational performance, whilst maintaining & adhering to existing governance models & regulatory requirements.
  1. Why are the popular public blockchains not suitable for business use cases?
  • Due to the open source & pseudonymous nature of permissionless blockchain, governance & operational performance cannot be achieved to satisfy the needs of organisations.
  1. What programming languages can be used to write smart contracts on Hyperledger Fabric?
  • Node.js, Go or Java.
  1. What does it mean to have support for “pluggable consensus protocols”?
  • The platform architecture is fundamentally designed to allow for protocol customisation & seamless integration to accommodate varying business use cases.

#27
  1. What started the large interest in permissioned blockchain technologies such as Hyperledger?
    Because businesses prefer privet blockchain where that they can control information and accesses. Also the scalability and the consensus are more easy. The cost is cheaper and the efficiency is higher

  2. Why are the popular public blockchains not suitable for business use cases?
    Businesses are very interested in the Blockchain technology but they think that permissionless have some bad connotation associate with the fraud, scams, environment, less efficiency and two much transparency.

  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”?
    Effectively customized to fit particular use cases and trust models.


#28
  1. What started the large interest in permissioned blockchain technologies such as Hyperledger?
    • Access control requirements, performance (high transaction, low latency), privacy/confidentialilty
  2. Why are the popular public blockchains not suitable for business use cases?
    • Lack of the benefits listed in answer 1
  3. What programming languages can be used to write smart contracts on Hyperledger Fabric?
    • Java, NodeJS, Go
  4. What does it mean to have support for “pluggable consensus protocols”?
    • The consensus protocol/algorithm can be customized, modified, interchanged.

#29
  1. What started the large interest in permissioned blockchain technologies such as Hyperledger?
    As DLT’s came on to the scene interest grew among businesses. But a few adjustment needed to be made. It needed to be effficient and private.

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

  3. What programming languages can be used to write smart contracts on Hyperledger Fabric?
    Existing general purpose programming languages such as Java, Go and node.js can be used.

  4. What does it mean to have support for “pluggable consensus protocols”?
    You are able to design your blockchain for your needs and also adjust conensus algorithms.


#30
  1. Business interest in using the advantages of blockchain for private use without giving up control.
  2. Slow, energy-inefficient, privacy concerns, bad public relations, cost to develop and run.
  3. Go and Node.js now, Java and others in the future.
  4. Flexibility to tailor differing needs for trust, depending on the needs of the application.

#31
  • What started the large interest in permissioned blockchain technologies such as Hyperledger?
  1. The rise of Bitcoin and the blockchain technology
  2. The mismatch of permission-less blockchain capabilities with the needs of business (accountability, high transaction ratio, etc.)
  • Why are the popular public blockchains not suitable for business use cases?
  1. Business needs to “know their customers”
  2. Business needs higher transaction ratio and performance comparing to public blockchains
  3. Some information is not supposed to be disclosed for everybody. For example, the deal price or a personal discount should not be visible to other market players or competitors in some cases.
  • What programming languages can be used to write smart contracts on Hyperledger Fabric?

General purpose languages. JavaScript, Java, golang.

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

The companies can develop their own consensus algorithm to tune the system according to their needs (depending on the use cases). As opposed to “proof of work only” in Bitcoin.


#32
  1. efficiency , cases when the smart contract details should not be public,
  2. financial trading, sales representatives - when the anonymity is required
  3. Go or Node.js
  4. it means it is customizable for a specific application

#33
  1. What started the large interest in permissioned blockchain technologies such as Hyperledger?
    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?
    Public Blockchains require a crypto-currency to gain consensus. A Permissioned Blockchain can leverage consensus protocols that do not require a native cryptocurrency to incentivize costly mining or to fuel smart contract execution. Avoidance of a cryptocurrency reduces some significant risk/attack vectors, and absence of cryptographic mining operations means that the platform can be deployed with roughly the same operational cost as any other distributed system.
  3. What programming languages can be used to write smart contracts on Hyperledger Fabric?
    In the 1.1.0 release, smart contracts can be written in either Go or Node.js, while there are plans to support other popular languages including Java in subsequent releases.
  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.

#34
  1. What started the large interest in permissioned blockchain technologies such as Hyperledger?
    Popularty of Bitcoin and Ethereum
  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
  1. What programming languages can be used to write smart contracts on Hyperledger Fabric?
    Java, Go and Node.js
  2. What does it mean to have support for “pluggable consensus protocols”?
    The involved parties can basically modify the way the blockchain works without needing to fork.

#35
  1. What started the large interest in permissioned blockchain technologies such as Hyperledger?

Ans : Because in permissioned blockchain, participants are identified/identifiable…not anonymous, networks is permissioned, high transaction throughput performance, privacy and confidentiality of transactions and data pertaining to business transactions, no consensus is required.

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

Ans : Because in public blockchains, participants are anonymous, networks is not permissioned, consensus is required, low transaction throughput performance, not scalable.

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

Ans : Java, Go and Node.js, rather than domain-specific languages (DSL).

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

Ans : Pluggable consensus protocols that enable the platform to be more effectively customized to fit particular use cases and trust models i.e. we don’t derive a entirely new Consensus Algorithm, but the platforms offers adaptability to any consensus algorithm by its design itself.


#36
  1. What started the large interest in permissioned blockchain technologies such as Hyperledger?
    Businesses saw the potential of having an immutable and time-stamped ledger, however there were some fatal flaws with how permissionless blockchains were created that hindered business use-cases

  2. Why are the popular public blockchains not suitable for business use cases?
    Pseudonymous transactions, slow, may lack KYC and AML compliance, costly to maintain, cannot be catered to business needs

  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”?
    Organizations using Fabric have the flexibility of being able to select the consensus mechanism that would best fit their respective need (CFT vs BFT) consensus architectures.


#37

1.What started the large interest in permissioned blockchain technologies such as Hyperledger? A: dApps, smart contracts, past imutable database

2.Why are the popular public blockchains not suitable for business use cases? A: Business concurrents, other business oponents migth atack your business survival.

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

4.What does it mean to have support for “pluggable consensus protocols”? A: consensus algoritms are optional and selectable


#38
  1. What started the large interest in permissioned blockchain technologies such as Hyperledger?
    Mainly because in the network of a B.C., Businesses/some ecosystems need already some level of trust (participant identities) and security (participant access levels and permission but also confidentiality of data between groups of participants)
    Then also more common programming languages for smart contracts, better performance, more effective consensus.
  2. Why are the popular public blockchains not suitable for business use cases?
    Mainly that they are permissionless for participants and the transactions and smart-contracts visible to all nodes. Then also the Order-Execute architecture - performance.
    Both elements sacrifice performance and privacy/confidentiality for full BFT consensus and a hollistically developed system, complex to secure.
  • note: and there is the programming language, most businesses have developers with common language skillset like Java, Node.js, Go

In a nutshell:
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?
    Another reason for point 2 why business prefer hyperledger: the programming language, most businesses have developers with common language skillset like Java, Node.js, Go
  2. What does it mean to have support for “pluggable consensus protocols”?
    One blockchain and network of participants can have multiple consensuses, one per each project/smart-contract. Whatever fits your need/business transaction type.

#39
  1. What started the large interest in permissioned blockchain technologies such as Hyperledger?

Businesses need different characteristics of blockhains with same functionalities that blockchains provide. One of the most important characteristics is permissioned blockchain and because other existing public blockchains are natively permissionless Hyperledger was created.

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

For enterprise use and not public 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?

Java, Go, node.js

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

Consensus in blockchain can be modified on custom need of a company or group of business entities


#40
  1. the technology of blockchain for its distributed ledger, and, its associated distributed application platform.
  2. Anonymity of users- it simply cannot be allowed in most business use cases- they are also slow and inefficient, as well as lacking in confidentiality of information.
  3. Java, Go and Node.js
  4. They enable the platform to be more effectively customized to fit particular use cases and trust models

#41
  1. What started the large interest in permissioned blockchain technologies such as Hyperledger?

When BTC/ETH/etc started to grow, interest in using the underlying technology also grew.

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

Among other things, you may need to verify users and make some things private and unsearchable to unvetted users. In addition, you need faster/better performance for enterprises to use this technology.

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

Java, Go, and Node.js can be used to write smart contracts on Hyperledger Fabric. This is an advantage over many other blockchains that are constrained by domain-specific languages.

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

It means it is more adaptable and will be able to be customized more easily for different industries and use-cases.

(Don’t forget to HODL for Yellow Lambos…)