North Atlanta Blockchain - Hyperledger A Brief Overview
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HyperLedger - A Flyby presented information on Hyperledger including: - Hyperledger aims to create open source enterprise blockchain frameworks and codebases to support business use cases. - It's main frameworks include Fabric, Sawtooth, Iroha and Burrow which offer different consensus mechanisms and capabilities. - Potential use cases discussed include asset ownership, lending, contracts automation, and industry consortiums for mutual benefit like banking or healthcare. - Compared to Bitcoin and Ethereum, Hyperledger blockchains are typically permissioned and don't use cryptocurrency.
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North Atlanta Blockchain - Hyperledger A Brief Overview
- 1. HyperLedger - A Flyby North Atlanta Blockchain Meetup NORTH ATLANTA BLOCKCHAIN
- 2. Who are we? ¡ñ We are a group of like minded business and technology professionals that are trying to establish a community around Blockchain tech. ¡ñ We don't like the commute to ITP for attending these kind of events. NORTH ATLANTA BLOCKCHAIN
- 3. What is a Blockchain? General Definition A continuously growing list of records, called ¡®blocks¡¯ which are linked and secured using cryptography. Technical Definition A double link list with immutable nodes. NORTH ATLANTA BLOCKCHAIN
- 4. Types of Blockchain ¡ñ Public Permissionless ¡ñ Public Permissioned ¡ñ Private Permissioned Permissions ¡ú Decides who can participate and/or approve a transactions in the chain Permissioned ¡ú Means closed group of participants added by certain protocol/process Permissionless ¡ú Every one in the participant group are equal, can approve transactions Public/Private ¡ú Decides who can view the transaction Data. In case of Public, everyone in the chain can view the data whereas in case of private, certain members part of transaction can view depends on the governing rules. NORTH ATLANTA BLOCKCHAIN
- 5. Blockchain for Business. Why? ¡°2017 was the year of Cryptocurrency. 2018 will be the year of Production grade Private Blockchains.¡± ? Business Innovation Opportunities Be the leader in innovating new business model using Blockchain. Own the industry rails for decentralized economy. ? Industry Consortiums Be a participant in the industry consortiums so that you are not left from industry peers. Contribute and help the industry ecosystem and community. NORTH ATLANTA BLOCKCHAIN
- 6. The Buzzwords of Blockchain ¡ñ A distributed ledger consists of: ¡ð A data model that captures the current state of the ledger ¡ð A language of transactions that changes the ledger state ¡ð A protocol used to build consensus among participants around which transactions will be accepted, and in what order, by the ledger. ¡ñ Smart contracts are simply computer programs that execute predefined actions when certain conditions within the system are met. ¡ñ Consensus refers to a system of ensuring that parties agree to a certain state of the system as the true state. NORTH ATLANTA BLOCKCHAIN
- 7. The Buzzwords of Blockchain ¡ñ Blockchain is a data structure for distributed ledger ¡ñ A block commonly consists of four pieces of metadata: ¡ð The reference to the previous block ¡ð The proof of work, also known as a nonce ¡ð The timestamp ¡ð The Merkle tree (binary hash tree) root for the transactions included in this block. ¡ñ The initial block of a blockchain is called a genesis block NORTH ATLANTA BLOCKCHAIN
- 10. What is Hyperledger ¡ñ Hyperledger may be thought of as an open system for marketplaces, including decentralized data sharing networks and digital communities. ¡ñ Hyperledger blockchains are generally permissioned blockchains, which means that the parties that join the network are authenticated and authorized to participate on the network. ¡ñ Hyperledger¡¯s main goal is to create enterprise grade, open source, distributed ledger frameworks and code bases to support business use cases. NORTH ATLANTA BLOCKCHAIN
- 11. Hyperledger - Modules & Roles NORTH ATLANTA BLOCKCHAIN
- 12. Hyperledger - Core Frameworks ¡ñ Fabric ? The reference implementation for blockchain. Prime Time Ready. Consensus, CA and MSP are plug and play. Private Channels is a unique value prop. ¡ñ Sawtooth ? The run machine for distributed ledgers. Uses PoET, suitable for large number of participant network. Good for digital asset ownership and transfer projects. ¡ñ Iroha ? For developing mobile applications based on distributed ledger. Has client libraries for IOS and Android. ¡ñ Indy ? A distributed ledger purpose built for decentralized identity. ¡ñ Burrow ? Smart contract machine based on Ethereum Virtual Machine. NORTH ATLANTA BLOCKCHAIN
- 13. Industry Use Cases ¡ñ Asset Ownership & Transfer (Land, Cars, Digital Media Rights, Properties) ¡ñ Lending Process (Syndicate Loans) ¡ñ Mortgage Insurance (Network of lenders working with Mortgage Insurers) ¡ñ Contracts Automation (Applicable to any industry) ¡ñ Consortiums for mutual benefit ¡ð Banking Consortiums for cross border payments ¡ð Food Safety Consortiums ¡ð Vaccine Management in Health Care ¡ð Co-op Farming NORTH ATLANTA BLOCKCHAIN
- 14. Comparison Bitcoin Ethereum HyperLedger Frameworks Cryptocurrency based Yes Yes No Permissioned No No Yes Pseudo-anonymous Yes No No Auditable Yes Yes Yes Immutable ledger Yes Yes Yes Modularity No No Yes Smart contracts No Yes Yes Consensus protocol Proof Of Work Proof Of Work Several to choose from
- 15. Do I need a Blockchain? NORTH ATLANTA BLOCKCHAIN
- 16. How can I learn more? There are three courses available on Hyperledger: 1. Blockchain for Business - An Introduction to Hyperledger Technologies 2. IBM Blockchain Essentials 3. IBM Blockchain Foundation Developer NORTH ATLANTA BLOCKCHAIN
- 17. Teaser for next meetup Hyperledger Fabric - Create a Blockchain App / Workshop
Editor's Notes
- #6: ¡°CIOs mandate is to come up with ideas for Blockchain which would be a great poster material for the company¡± E.g. Kodak Monilta