- Hyperledger is an internet Meta database protocol that utilizes Blockchain.
- Blockchain is the core technology of Hyperledger and a key to making shared databases securely and publicly/privately over different systems.
- Majority of Financial Institutes wanted to maintain the confidentiality of data through privately shared Blockchains, with rules and regulations defined by them.
- So, Hyperledger was created to fill some gaps from what enterprises such as financial institutes or supply chain industry wanted to deploy but Bitcoin lack of.
- The core networking part of the Hyperledger is called ‘fabric’. It is a building block of Hyperledger Blockchain network that integrates different systems and makes many different implementations for various business applications.
- The name ‘fabric’ is perfect as it is a fundamental component to weave and make any type of clothing. Hyperledger Fabric is a permissioned Blockchain infrastructure.
- Hyperledger Composer is an extensive, open development toolset and framework to make developing blockchain applications easier.
- Our primary goal is to accelerate time to value and make it easier to integrate your blockchain applications with the existing business systems.
- You can use Composer to rapidly develop use cases and deploy a blockchain solution in weeks rather than months.
- Composer allows you to model your business network and integrate existing systems and data with your blockchain applications.
- Hyperledger Cello is a blockchain provision and operation system, which helps manage blockchain networks in an efficient way.
- Hyperledger Cello aims to bring the on-demand “as-a-service” deployment model to the blockchain ecosystem to reduce the effort required for creating, managing and terminating blockchains.
- It provides a multi-tenant chain service efficiently and automatically on top of various infrastructures, e.g. virtual machine.
- Hyperledger Explorer is a blockchain utility module that allows users to create a user-friendly web-based application, with which a user can view, initiate, organize or query various artefacts and developments that form an integral part of the blockchain network.
- It is a simple, powerful, easy-to-use, highly maintainable, open source browser for viewing activity on the underlying blockchain network.
- It is designed to create a user-friendly Web application.
Benefit of Hyperledger
1Modular Architecture: Hyperledger Fabric encourages developers to create pluggable components into its architecture.
2Hyperledger abstracts away all powerful properties of Bitcoin.
3Hyperledger is designed to be fast and scalable.
Ethereum is an open-source, public, Blockchain-based distributed computing platform and operating system featuring smart contract. It is an open software platform based on Blockchain technology that enables developers to build and deploy decentralized applications. Ethereum Blockchain focuses on running the programming code of any decentralized application. Ethereum Blockchain has some extraordinary capabilities. One of them is that you can build smart contracts.
What is Smart Contract?
Smart contract is just a phrase used to describe computer code that can facilitate the exchange of money, content, property, shares, or anything of value. When running on the Blockchain a smart contract becomes like a self-operating computer program that automatically executes when specific conditions are met. Because smart contracts run on the Blockchain, they run exactly as programmed without any possibility of censorship, downtime, fraud or third-party interference.
Benefits of Ethereum
1Flexibility: Any services that are centralized can be decentralized using Ethereum.
2DAO: Ethereum can also be used to build Decentralized Autonomous Organizations (DAO). A DAO is fully autonomous, decentralized organization with no single leader.
3Immutability: A third party cannot make any changes to data
4Corruption & tamper proof: Apps are based on a network formed around the principle of consensus, making censorship impossible.
5Secure: With no central point of failure and secured using cryptography, applications are well protected against hacking attacks and fraudulent activities.
6Secure: Apps never go down and can never be switched off.
Corda is an open-source distributed ledger platform especially geared towards the financial world as it handles more complex transactions and restricts access to transaction data. The aim of Corda is to provide a platform with common services to ensure that any services built on top are compatible between the network participants. Corda platform is already being used in industries from financial services to healthcare, shipping, insurance and more. It records, manages, executes institutions’ financial agreements in perfect synchrony with their peers, creating a world of frictionless commerce.
Benefits of Corda
1Data is shared only among relevant parties
2Enables central regulatory body to observe directly
3Uses Industry Standard Tools
4No native cryptocurrency
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