Crypto Academy Week 9 - Homework Post for @alphafx

Blockchain is a growing list of records, called blocks, that are linked using cryptography.It differs from a typical database in the way it stores information; blockchains store data in blocks that are then chained together. The main aim of blockchain is to let data to be recorded and distributed, not to edit.

blockchain technology popularity and demand are increasingly rising, and many are going into limlight. And many business enterprises are competatively eager to adopt the blockchain technology solutions, and already invested in it. Hyperledger Fabric and Ethereum blockchain platform are alreeady in the mainstream daily. That’s why it’s of paramount important that we compare and contrast

Each of theses platform are very vital according to their features which provide a lot of change that will enhance any business model. Let's under stand each of the blockchain Before we compare the two

Ethereum:

Ethereum is an open source distributed public blockchain network that was developed by Vitalk Buterin a 24- year- old Russian-Canadian. It is considered one of the efficiently developed platforms with an extension to the original concepts of core blockchain where theprotocol of bitcoin was improvise in other to support application beyond currency issuance, having smart contract features as it's major breakthrough that can be easily write and deploy on, flexibility, and multi-industry adaptability.

Ethereum serve as a fundenmental component in the expanding all the decentralized applications.
Ethereum offers greater transparency as compared to Hyperledger in which it's flexibility of the allows any application developer to make different applications with the use of the inbuilt programming language. Ether is the built-in cryptocurrency of ethereum and it's provides a reasonably competitive head up to Ethereum applications ahead of Hyperledger and Corda that needs cryptocurrency. As a matter of fact, Ethereum is being built as a B2C application and it position as a public blockchain make it difficult to change from its present form for enterprise applications as everyone worldwide can connect with Ethereum blockchain and can keep the present status of the network. As such, we referred ethereum as the “World Computer”.

Hyperledger:

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Hyperledger is an open source development project to benefit an ecosystem by The Linux Foundation. Unlike ethereum as a single platform, it is more like umbrella strategy with multiple platforms for developing enterprise solutions. It started it journey back in 2015 exactly that time when blockchain started gaining attention of the world. Launched in 2016 was perfectly at the right time when there were no blockchain platform that support enterprise and help the big players to reach their full potentials. Hyperledger focused on blockchain important issues that will work under a variety of industrial sectors.

Having the source code alone will not help because application developers that have the indepth knowledge of how it works are needed guide You through on how to used it and how Hyperledger Fabric consensus works in order to find out if those algorithms are enough to safeguard your information.
Based on the Consensus of Hyperledger , it features are edittable and can go with almost any kind of business enterprise like primary healthcare, supply chain, education, insurance, law firms,media, cybersecurity, banking and finance, government, real estate management, and many more that are using it already.
However, Hyperledger is becoming popular because of it permissioned features, as it can be easily use anyhow and anywhere.

Hyperledger Fabric has a set of quality codes that they make sure is of the best quality in the market and they tend to carefully observe their codes for security to get rid of hackers and vigorously test on their coding before every launch.

Comparison

Ethereum runs the smart Contracts on the EVM for applications that are attributed to being decentralised and are for mass consumption. On the opposite hand, Hyperledger leverages blockchain technology for business this makes it an ideal resolution for enterprise that has to have their privacy and do not wish to publicize their sensitive data to their competitors. it is designed to have high degrees of confidentiality, resilience and measurability. Hyperledger features a standard design and provides a great deal of flexibility in however you wish to use it. Its protractible design provides futurist solutions for enterprise blockchains.

Ethereum is totally clear and each dealings is visible to everybody on the network. Thus, Hyperledger permits confidential transactions. Consequently, it offers businesses the flexibleness and security to carryout transactions visible to pick out parties having correct cryptography keys.

In reality, Hyperledger fabric consensus is truly a flexible model. in addition, it comes with a large range of consensus algorithms, pluggable choices, multiple ledger formats, and lots of more. As you'll see, you'll be able to customise this platform to a great extent.

Thus, it’s very effective to implement blockchain solutions for any type of business. Another cool feature of Hyperledger fabric design is that it enables you to create separate channels which will provide private transaction choices. You can’t access this without the correct level of access.

Ethereum may be either public or private with no any permissions whereas Hyperledger is definitely non-public and permissioned network. this implies that in Ethereum, anybody will participate within the network at any time. however Hyperledger encompasses a predefined community of participants, and access to the network is restricted solely to them. One needs permission to join the network. This mode of participation features a profound impact on how consensus is reached.

With Ethereum, all the network participants (or nodes) ought to reach consensus over all the transactions. this is regardless of whether or not a node takes part during a explicit transaction or not. Presently, Ethereum’s establishes its consensus mechanism by mining based on the Proof-of-Work (PoW) ought to. All the nodes have to be compelled to agree upon a common ledger and all of them have access to any or all entries ever recorded. In distinction, Hyperledger allows nodes to decide on between No-op (no consensus needed) and an agreement protocol (PBFT) whereby two or a lot of parties will agree on a key in such the way that each influence the end result. This precludes unwanted third parties from forcing a key alternative on the agreeing parties. Thus, Hyperledger features a fine-grained management over consensus and restricted access to transactions resulting in improved performance scalability and privacy.
Another key distinction is that the use of smart contracts in Ethereum, written in a very high-level contract-oriented language known as Solidity. However, in Hyperledger you'll be able to use the term “chaincode” as a equivalent word for smart contract. A chaincode generally handles business logic in agreement to by members of the network, therefore it's going to be considered as a smart contract. These chaincodes are written in Golang, a programing language created by Google.

Hyperledger doesn’t need cryptocurrencies for transactions. It doesn’t have a inbuilt native cryptocurrency like Ethereum’s token, Ether. Hence, there's no demand of mining in any respect. this enables for scalable consensus algorithmic program that's capable of handling high transaction rates needed by most enterprise applications. But, staring at either side of the coin (or token, eh?) since Ethereum has its own ether, it will be advantageous over Hyperledger within the use cases that need a cryptocurrency. Since Hyperledger is additionally programmable, it will leverage the embedded logic in chaincode to automatise business processes across your network.

you may additionally develop custom tokens via chaincode, if needed.
Hyperledger and Ethereum, both are extremely exceedingly, however in numerous aspects. Ethereum’s powerful sensible contracts engine makes it a generic platform for virtually any reasonably application. However, its permissionless mode of operation and total transparency comes at the price of performance exceedingly and privacy. Whereas,Hyperledger solves performance quantifiability and privacy problems by permissioned mode of operation and fine-grained access management. Further, the standard design permits Hyperledger to be custom to a large number of applications, analogous to a tool case.

@alphafx