Articles

Blockchain has the potential to alchemize the technology Development Process

by Isabella Aria Blockchain Technology Blogger
Blockchain technology has been continuously reaching new heights and expanding its wings to different sectors. 

It has been contributing to the growth and development of several organizations. The blockchain comprises various platforms. So it is necessary to know the difference between these platforms, which will help the user in selecting the best that suits their needs.

Among many platforms, let us focus on Ethereum and Hyperledger. They both have the same functionalities and work as separate blockchain platforms. However, there are some vital differences between them.

Ethereum 

Vitalik Buterin developed this open-source software.  Ethereum is a blockchain-based decentralized computing platform that helps in executing smart contracts globally. 

It uses a programming language named solidity and has its own cryptocurrency called Ether. It generally runs on a virtual network called Ethereum Virtual Machine(EVM).  The Etherum platform has the ability to write and deploy smart contracts quickly. The Ethereum blockchain can be easily accessed regardless of the location and maintaining the network is not so tedious.

Hyperledger 

Hyperledger is an open-source project developed by the Linux Foundation. It is a permissioned blockchain framework that can be developed and customized for different organizational needs. 

In hyperledger, users can customize applications according to their requirements.  Hyperledger platforms deliver users with a high degree of confidentiality, resilience, and scalability. 

Hyperledger uses container technology to host smart contracts. It is a secure platform when compared to Ethereum and is accessible by authorized parties only.

Ethereum versus hyperledger 

Confidentiality

Data breaches and manipulation can lead to a major downfall for many organizations, so security needs to be considered significantly.

Etherum application is very transparent, and the transaction that takes place in it is visible to everyone in the network.

On the other hand, hyper ledger is highly secured, and the transaction is only visible to the people who are entitled to it. It provides a secure way to transfer information among participants. 

Mode of accessing

When it comes to granting permission, Ethereum is a permission-free blockchain network. It is a public ledger, so anyone can download the ethereum client version and can participate in mining or view the transaction history.

In Hyperledger, accessibility is restricted to the set of authorized users. Every participant needs permission to join this network. It prevents outsiders from accessing valuable information.

Which one is suitable to use?

The same principle is applied to both Ethereum and Hyperledger. Ethereum is mainly designed to run smart contracts on Ethereum Virtual Machines, and it is available for mass utilization.

On the flipside, Hyperledger is developed for the purpose of business transactions. It is very well suitable for B2B transactions. It develops an environment where you can create an application that will compensate for the business's requirements.

Conclusion 

It has been proved that blockchain itself is a secure platform, and shifting business transactions can help leverage its full value. Be wiser in choosing the best platform that suits your requirements. 

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About Isabella Aria Innovator   Blockchain Technology Blogger

11 connections, 1 recommendations, 56 honor points.
Joined APSense since, May 28th, 2019, From Toranto, Canada.

Created on Oct 14th 2020 04:13. Viewed 174 times.

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