Ethereum

What is ethereum ?

• Ethereum is a decentralised blockchain application that enables smart contracts and decentralised applications

• Ethereum allows developers to build and run application without relying on central authority

Ethereum allows developer to write smart contacts

Developer can build Dapps that runs on Ethereum BC without centralized

What are the key features of Ethereum?

• Smart Contracts

• Ethereum Cryptocurrency

• Ethereum virtual machine

• Decentralized Applications

What is hyperledger?

• It is a open-source block-chain framework developed by Linux foundation

• Its permissioned ( restricted )

What are the features of Hyperledger?

• Permissioned

• Scalable

  • Doesn’t have cryptocurrency : doesn;t have buildin token

What is hyper ledger fabric ?

• it is a permissioned block chain framework within the hyper ledger ecosystem

• Desgined for business application

• Support smart contracts ( called chaincode)

• Provices security , privacy

What are the features of hyper ledger fabric ?

• Private and permissioned

• Smart contracts ( Chaincode )

• Scalable

Difference between hyperledger fabric and bitcoin ?

Parameters	Hyperledger Fabric	Bitcoin
Consensus	No mining	POW
Privacy	Channel - Based	Fully transparent ledger
Transaction speed	20000 + TPS	7 TPS
Finality	Immediate	Require 6 conformations

Architecture of Hyperledger Fabric ?

What are the core components of Hyperledger fabric architecture ?

• Membership service provider ( MSP )

• Application ( SDK - Software developement kit )

• Peer Node

• Ordering Service

Membership service provider:

• Ensure authentication and authority of participants

• Decentralized

• Function: Enrolls user and provide cryptographic keys

Application (SDK)

• Used by clients to interact with blockchain

• Steps:

  • Step 0: Enroll with the MSP to get identity key

  • Step 1: Send a transaction to the peer

  • Step 2: Submit the transaction for validation

Peer Node:

• Main components

• It processes and validates transaction

What is peer node consists of ?

• Endorser

• Committer

• Ledger

• Events

• Chaincode

Endorser:

Validate transaction proposals

Commiter:

It validate transactions and commit them to ledger

Ledger:

Store all transactions

Events:

Notify network particpants about transaction update

Chaincode:

• Smart Contracts

• It is used in business logic (execute bussiness logic)

Ordering Service:

• Collect the endorsed transaction from peers and order them into block

• Ensure consistency across peers

What is hyperledger composer?

• It is an open source tool used to simplify and accelerate the development of hyperledger fabric applications

• Provides abstraction layer

What are the features of hyperledger composer?

Rapid development: speed up smart contracts and DAPPS

Access control: Defines permission for participants.