Scribd
Upload
165 views

Unit 5

The document discusses Hyperledger Fabric, an open-source blockchain framework. It describes the architecture and components of Hyperledger Fabric including peers, orderers, channels and smart contracts. It also discusses identity management and transaction flow in Hyperledger Fabric networks. Other blockchain technologies like Ripple and Corda are briefly described.

Uploaded by

Shailaja
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
165 views

Unit 5

The document discusses Hyperledger Fabric, an open-source blockchain framework. It describes the architecture and components of Hyperledger Fabric including peers, orderers, channels and smart contracts. It also discusses identity management and transaction flow in Hyperledger Fabric networks. Other blockchain technologies like Ripple and Corda are briefly described.

Uploaded by

Shailaja
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 30

Sharad Institute of Technology college of

Engineering, Yadrav-Ichalkaranji
NBA Accredited Programmes
An ‘A’ Grade Institute Accredited by NAAC
Blockchain Technology
Prepared by
Mr. U M Mulani
Assistant Professor
Computer Science & Engineering Department
1
[Unit 5] Blockchain Application
Development
Hyperledger Fabric
 Hyperledger Fabric is a modular blockchain framework that acts as a
foundation for developing blockchain-based products, solutions, and
applications using plug-and-play components that are aimed for use within
private enterprises.
 Hyperledger Fabric is a permissioned blockchain network that gets set by
the organizations that intend to set up a consortium.
 Each member organization in the blockchain network is responsible to set
up their peers for participating in the network.
Hyperledger Fabric- Architecture
Hyperledger Fabric - Identity
 The different actors in a blockchain network include peers, orderers,
client applications, administrators and more.
 These identities really matter because they determine the exact
permissions over resources and access to information that actors have in a
blockchain network.
 For an identity to be verifiable, it must come from a trusted authority.
 A membership service provider (MSP) is that trusted authority in Fabric.
More specifically, an MSP is a component that defines the rules that
govern the valid identities for this organization.
Hyperledger Fabric- Identity Eg.
 Imagine that you visit a supermarket to buy some groceries. At the
checkout you see a sign that says that only Visa, Mastercard and AMEX
cards are accepted. If you try to pay with a different card — let’s call it an
“ImagineCard” — it doesn’t matter whether the card is authentic and you
have sufficient funds in your account. It will be not be accepted.
Hyperledger Fabric- Policy
 policy is a function which accepts as input a set of signed data and
evaluates successfully, or returns an error because some aspect of the
signed data did not satisfy the policy.
 policies test whether the signer or signers of some data meet some
condition required for those signatures to be considered ‘valid’. This is
useful for determining that the correct parties have agreed to a
transaction, or change.
 Signature Policy: This policy type is the most powerful, and specifies the
policy as a combination of evaluation rules for MSP Principals.
Nodes and Roles
Transaction Flow
Step 1/7- Propose Transaction
Step2/7- Execute Propose Transaction
Step 5/7- Deliver Transaction
Step 6/7- Validate Transaction
Step 7/7- Notify Transaction
Ordering Services
Channels
Channels
Channels
Channels
Writing smart contract using Hyperledger
Fabric
Writing smart contract using Hyperledger
Fabric
 A smart contract in Hyperledger Fabric is a program, called
chaincode.
 Chaincode can be written in Go, JavaScript (node.js), and
eventually other programming languages such as Java that
implement a prescribed interface.
 Chaincode runs in a secured Docker container isolated from the
endorsing peer process.
 Chaincode initializes and manages the ledger state through
transactions submitted by applications.
Writing smart contract using Hyperledger
Fabric
 There are two different types of chaincode to consider:
 • System chaincode
 • Application chaincode

 System chaincode - typically handles system-related transactions


such as lifecycle management and policy configuration.
 However the system chaincode API is open for users to
implement their application needs as well.
 Application chaincode - manages application states on the ledger,
including digital assets or arbitrary data records.
Ripple
 Ripple is a technology that acts as both a cryptocurrency and a
digital payment network for financial transactions.
 The coin for the cryptocurrency is premined and labeled XRP.
 Ripple is the third-largest cryptocurrency by market cap,
following Bitcoin and Ethereum.
 Ripple is more known for its digital payment protocol than its
cryptocurrency, XRP. (XRP is a token used for representing the
transfer of value across the Ripple Network.)
 Ripple operates on an open-source and peer-to-peer
decentralized platform that allows for a seamless transfer of
money in any form, whether USD,Yen, litecoin, or bitcoin.
Ripple
 KEY POINTS
 Ripple is a technology mostly known for its digital payment network
and protocol, however, it also has its own cryptocurrency, XRP.
 Ripple's main process is a payment settlement asset exchange and
remittance system that is similar to the SWIFT system for
international money and security transfers that is used by banks and
financial middlemen.
 Rather than use blockchain mining, Ripple uses a consensus
mechanism through a group of servers to confirm transactions.
 Ripple transactions use less energy than Bitcoin, are confirmed in
seconds and cost very little, versus Bitcoin transactions which use
more energy, take longer to confirm and include high transaction
costs.
Ripple
 The Ripple network does not run with a proof-of-work system
like bitcoin or a proof-of-stake system like Nxt.
 Instead, transactions rely on a consensus protocol in order to
validate account balances and transactions on the system.
 The consensus works to improve the integrity of the system by
preventing double-spending.
 Individual distributed nodes decide by consensus which
transaction was made first by taking a poll to determine the
majority vote.
 The confirmations are instant and take roughly 5 seconds.
Corda
 Corda is a Distributed Ledger Technology to be used by businesses, such
as financial institutions, to keep a shared ledger of transactions and thus
removing the need for the involved parties to constantly check that each
of their books are in line after interacting with each other.
 Corda is a private permissioned blockchain platform that
enables businesses to transact directly and in strict privacy with one
another using smart contracts.
 Data consistency is one of the core features of Distributed Ledgers and is
crucial to the problem that Corda is attempting to solve.
 In a world of permission-less blockchain platforms in which all data is
shared with all parties, Corda Enterprise’s unique privacy model allows
businesses to transact securely and seamlessly while reducing transaction
and record-keeping costs and streamlining business operations.
THE END

 Syllabus is completed.

You might also like

pFad - Phonifier reborn

Pfad - The Proxy pFad of © 2024 Garber Painting. All rights reserved.

Note: This service is not intended for secure transactions such as banking, social media, email, or purchasing. Use at your own risk. We assume no liability whatsoever for broken pages.


Alternative Proxies:

Alternative Proxy

pFad Proxy

pFad v3 Proxy

pFad v4 Proxy