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Understanding Blockchain

Hyperledger Vs Corda Vs Ethereum: A Detailed Comparison

Hyperledger Vs Corda Vs Ethereum A Detailed Comparison

Various businesses are now progressively using distributed ledger technology solutions. New-age distributed ledgers are powerful enough to improve the efficiency of small, midsize, and large businesses, transform the payments landscape, and open the businesses to potential opportunities. As a result, the employment industry will also witness a large pool of job openings. Do you wish to work in the burgeoning fintech industry? To grab a lucrative job in such a demanding marketplace, you need the right education, skill-sets, and authentic certification. Learn blockchain technology from a renowned training and development center and level up your career prospect.

However, before you start looking for the best course to learn, let’s take a moment and analyze some of the popular distributed ledger platforms at this moment. In this article, we present a brief overview of Corda, Ethereum, and Hyperledger. The point is to give you a hand with understanding the blockchain platforms, how they differ from each other, and what you will get from taking up a blockchain course. So, without much delay, let’s start the discussion.

 

Hyperledger Vs Corda Vs Ethereum

 

Before demystifying the battle of supremacy between these three platforms, it would be better to understand what they stand for. 

A Brief on Hyperledger

Contrary to popular beliefs, Hypergelder technology is neither a blockchain nor a cryptocurrency nor a company. In reality, it is an open-source hub that aims to support the industrial blockchain development process.

 You can think of it as a blockchain open-source collective effort that seeks to accelerate the cross-industry blockchain technology’s development. 

The team of Hyperledger Fabric 2.0 has confirmed that they won’t create a native cryptocurrency for the project. It is simply an initiative to create blockchain disseminated record applications. But just like the other blockchain platforms, Hyperledger also comes with smart contracts and a ledger where people can manage their digital transactions. 

Besides everything, Hyperledger Fabric also has multiple pluggable options. For example, it allows a user to store the ledger data in different formats. The participants can also create separate channels for a separate ledger of transactions. To know more about how these two platforms work, you can take up advanced blockchain technology courses exclusively designed for beginners. 

A Brief on Corda 

Corda vs. Hyperledger is yet another battle that has become very common among the tech-geeks. Both Corda and Hyperledger are making good use of the blockchain development and its use cases and trying to transform multiple industries. 

A brainchild of R3 (a distributed database company), Corda blockchain is an open-source platform that ensures easy management of shared data and legal contracts between manually trusting organizations. Corda helps a vast range of applications to interoperate on a single network. 

Corda started as a platform that enables services in the financial sector. With passing time, it has evolved and upgraded a lot and due to its increased functions and capabilities, became valuable for various industries. Various blockchain technology courses are available there to reveal how it transformed into what it has become today. 

As per the expert blockchain developers, this platform is still rising and securing its position in the financial sector. Corda has its edge over Hyperledger when it comes to benefiting financial sectors with its blockchain system. 

Corda Use Cases 

To better understand the differences between Hyperledger and Corda R3, it is a must that you note down the latter’s use cases. Mainly, Corda aims to assure the users that any service developed on it, is compatible with all the network participants. Corda enables the business to initiate a smooth transaction via smart contracts. 

Corda use cases also ensure high-security standards and that is why it continues to gain a secured place in the financial industry. In today’s era protecting people’s data is important. That is why the use of a blockchain platform like Corda is constantly growing in popularity. 

 

Another use case of Corda will be Corda Enterprise, a commercial distribution version of this platform that meets the new-gen business’s transaction-related demands. Corda Enterprise comes with a few unique features like 24/7 support, corporate firewalls, etc. The users can make the most of predictable release schedules along with the product management features. However, to understand how this platform differs from Hyperledger, let’s understand the key features first.  

Key Features of Corda

  • Corda R3 prevents all the unnecessary data sharing on the blockchain platform as only people with legit access and needs can participate on the network. 
  • The Corda blockchain platform enables data sharing in a network without the need to involve a central controller.
  • It allows the users to achieve consensus at the level of individual transactions rather than the entire system at large. 
  • This platform’s design comes with the supervisory observer and regulatory nodes. 
  • Corda blockchain also supports a vast range of consensus mechanisms.
  • This platform doesn’t have a native currency.
  • It is built on industry-standard tools.

  

A Brief on Ethereum  

Ethereum is a brainchild of Vitalik Buterin- this is the first definition that comes to mind while talking about this blockchain platform. To elaborate further, Ethereum is an open software application that seeks to provide blockchain developers with a framework to create decentralized applications. 

A decentralized application usually runs on a peer-to-peer network rather than a single device. Plus, this unique network exists on the internet and is not controlled by any single entity. 

Ethereum takes pride as the second largest market cap in the cryptocurrency world.  This popularity explains its edge in the Hyperledger Vs Ethereum Vs Corda battle. This particular blockchain project continues to capture the majority of investors’ interest due to its powerful decentralized applications. 

If you enroll in blockchain technology training to learn more about the Ethereum project, you will see how it seeks to empower us to ensure secure digital transformations as well as have total control of our money while enjoying the benefits of cryptography.

Ethereum is on the verge of changing the way people create things, communicate with each other, and execute multiple tasks online. Enterprise Ethereum is another variation of this blockchain technology that solely focuses on enterprise solutions. Anyhow let’s check out the pros of the Ethereum platform below: 

Key Features of Ethereum:

Ethereum blockchain offers: 

Immutability as none can alter the data already inserted in the decentralized blockchain applications.

Tamper Proof, apps on the Ethereum network that run on the principle of consensus, which initiates censorship. 

Security as there is no central point to call the shot. All the applications created on top of the Ethereum blockchain platform are well protected against hacking or other spamming activities.

Zero downtime as the apps never experience downtime as there is no single central server to hose them. 

  

The objectives of the platforms 

The debate on Hyperledger and Ethereum will become much clearer when you take a look at their purposes. Ethereum network solely seeks to make it easy for the developers to create smart contracts to perform several tasks. On the other hand, Hyperledger is an open-source collaborative initiative leveraging blockchain technology to support multiple tech implementations. 

Hyperledger works as software whereby you can develop a personalized blockchain for multiple needs. Ethereum blockchain, on its part, works with generalized protocol allowing everything to run on the network. 

The Level of Confidentiality 

The debate on Ethereum and Hyperledger won’t be finished until we compare the confidentiality level of both projects. Ethereum is a transparent blockchain project that stores the details of every transaction in the public domain so that everyone present on the network can see that. All transactions happening on the Ethereum blockchain are visible to all the participants. 

Hyperledger Fabric, on the other hand, takes the matter of privacy to another level as only people involved in a particular project can access the data related to it. This network thus provides the participants with the flexibility to lock the transactions by using certain encryption keys. 

Peer Participation 

The Ethereum network can be both public and private. Therefore anyone can take part at any given time. On the other hand, Hyperledger comes with a predefined community of participants who can access the network. The users have to use certain encryption keys to access the data in the network. However, there is an exception though. Hyperledger Sawtooth is the only project that is available on both public and private solutions.  By taking up blockchain technology training, you will understand the use cases in a better way.

Consensus Mechanism

As a transparent blockchain project, Ethereum allows everyone present on the network to make decisions. All the participants in the blockchain need to reach a consensus to complete a transaction. It doesn’t matter whether or not there is a node present in the transaction. 

Ethereum runs on the Proof of Stake algorithms to achieve a consensus. The PoS algorithm requires all the participants to agree on a single point and all of them should have access to the recorded entries. 

Moving on to the mechanism of the Hyperledger network, it comes with various types of consensus whereby the participants can choose between an agreement protocol and no consensus algorithms needed. In such scenarios, two or more parties can agree on the outcome. 

The Programming Language 

Another critical point of debating over the Ethereum blockchain and Hyperledger is the programming language they use. 

Ethereum majorly relies on Solidity, a high-level-oriented programming language. Hyperledger, on the other hand, depends on ‘chain code’ which is an intelligent contract, written in a programming language. It handles the business logic agreed by all the members present in the network. 

Cryptocurrencies 

The Linux Foundation, the creator of Hyperledger Fabric, has already made it clear that they are not open to developing a cryptocurrency hence there is no requirement for mining.  This blockchain platform lacks a native currency and hence allows for a scalable consensus algorithm whereby the network can process at a high transaction rate. 

On the other hand, the Ethereum blockchain is powered by the Ether (ETH) digital currency that helps to finance transactions on the network. 

Simply put, Ethereum is a unique blockchain project that allows people to create smart contracts and decentralized applications to perform different tasks. Therefore, it is a generic platform for all kinds of applications. However, Ethereum continues to struggle with scalability and privacy issues.  

On the other hand, Hyperledger is an ideal project for businesses and organizations that want to avoid privacy and scalability issues in the blockchain space. The fine-grained access control of this platform brings out high levels of access control. 

The Final Comparison Between The Three Platforms 

Hope this guide helped you to form a basic understanding of the three distributed ledger technologies and their use cases. Corda acquires most of its use cases from the financial service industry, whereas Ethereum claims to be independent of any specific applications. Hyperledger, on the other hand, offers an extendable, modular architecture in multiple industries. 

  • Peer Participation 

Ethereum is accessible to everyone who has access to data or anything in the blockchain network. But in Corda and Hyperledger, if a network’s participants are pre-defined only then they can gain access to the networks. 

  • Consensus   

In the consensus algorithm, Ethereum differs from the other two. In an Ethereum network, all the participants must reach an agreement to initiate a transaction. Even when a participant is not a part of the transaction, they have to agree on it. 

On the other hand, when it is about Corda and Fabric, the consensus mechanism is more refined. Every node, present in a network, doesn’t need to participate in the consensus process. 

  • Built-in Currency 

Ethereum is the only one among the three emerging digital ledgers to have a native cryptocurrency named Ether. Corda and Fabric don’t need any currency since the consensus doesn’t need a mining process.

Hyperledger Vs Corda Vs Ethereum

Parameters  Corda  Ethereum  Hyperledger Fabric
Audience  Blockchain Developers Anyone interested in decentralized applications like ETH, Crypto and so on Developers searching for a foundation for creating applications with a modular architecture
Company R3 Ethereum Foundation Hyperledger
Founded In 2014 2013 2015
Categories Smart Contract Blockchain Blockchain
Smart Contract
DeFi Projects
Crypto Stacking		 Blockchain
Smart Contract

The Bottom Line

 

The debate over Corda vs. Ethereum vs Hyperledger Fabric will continue more as the blockchain technology evolves with passing time. However,  if you are just a novice and want to learn more about these platforms, check out the best blockchain certification here! 

If you want to keep up with the trends of blockchain industry, join our communities on Discord, Reddit and Telegram.

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Blockchain Weekly Source

Blockchain Vs. Distributed Ledger Technology

Blockchain Vs. Distributed Ledger Technology

Blockchain is a distributed ledger technology and the first decentralized peer-to-peer payment network. Blockchain’s decentralized, open, and public design means that it can’t be altered or manipulated by any single person or company.

Both Blockchain and DLT are examples of distributed ledger technologies. Both Blockchain and DLT are blocked with different records updated in a deterministic manner (the same way). Blockchain has much more characteristics, as mentioned in the previous sentence. Blockchain was created to provide digital currency, while DLT has evolved over the past few years to provide other purposes such as record management, process automation, etc.

A distributed ledger is a type of database that keeps multiple copies of information in different locations, which it can update consistently. This allows anyone who has access to the copy of the shared ledger to verify the same data (information). An important requirement for this type of database is maintaining integrity and availability. The three basic requirements are:

  •  Consistency
  •  Availability
  •  Partition tolerance

What is a Blockchain?

Blockchain is a single decentralized ledger shared by all parties participating in an established, distributed network of computers. The ledger tracks the ownership and transfer of assets through the network. Each computer on the network has its copy of the Blockchain, allowing users to verify transactions quickly and prevent fraud.

In Blockchain, data is stored in transactions (called blocks). Every BlockBlock has a timestamp and a link to the BlockBlock that came before it. Each BlockBlock also includes mathematical proof verifying that a given transaction is valid (i.e., the sender has the right to send that amount of currency).

What is a Distributed Ledger?

A distributed ledger is a blockchain database that all the participants of a network share. Because all participants have a copy of the database, they can verify the transaction details and ensure no outsiders tamper with the database. As discussed here, a distributed ledger is not necessarily a blockchain database. Here, we are talking about other databases like Blockchain or smart contract databases (e.g., Ethereum).

How Are Blockchain And Distributed Ledger Different?

Distributed ledger technology (DLT) is an umbrella term that describes any system that relies on a shared database to process, record and verify transactions in an open network. Think of it as a form of record-keeping where several parties add records to a database, and everybody’s copies are kept in sync. 

Blockchain is a specific type of distributed ledger that uses cryptography to control new units. The system, therefore, needs a “trusted” third party – an administrator – who keeps track of all the transactions in the network and prevents duplicate payments. In this case, Blockchain is best viewed as a database with pseudonymous (pseudonymous means the owner is not anonymous) users.

Another feature that sets Blockchain apart from other DLTs is its ability to counter any attempt to modify or delete data in its transactions. Since each BlockBlock contains information about every previous BlockBlock, it’s essentially impossible to alter records without changing each subsequent BlockBlock as well.

In simple words, it can be said that Blockchain is a decentralized distributed ledger. The difference between Blockchain and distributed ledger is one degree because the two are similar in many respects. A distributed ledger is a distributed database that can track anything of value.

  • Block Structure

Each Block in the Blockchain consists of multiple Transactions. A Transaction is an action of transferring money or tokens between one or more users. These transactions are stored in the BlockBlock, and for every transaction, a new block is generated with a “redundant” proof-of-work (PoW) algorithm. For example, such a proof-of-work algorithm must be extremely difficult to verify and find the proper solution within a certain amount of time. If the target proves to be difficult to find, then it will take longer than an assumed interval and increase exponentially in size until it is found.

Each Block has a number, and it is this number that forms the sequential order of the blocks in the Blockchain. When we talk about Blocks, we talk about one or more Transactions that form a block. Each BlockBlock has a unique number/ID that ensures that no two or more blocks can have the same number, as it will cause a conflict and be rejected by other nodes.

  • Real-Life Implementations

In 2008, the first Blockchain was conceptualized by Satoshi Nakamoto and introduced as a core component of Bitcoin. It can be understood as a distributed consensus ledger in a peer-to-peer network. In short, the Blockchain is a public ledger of the entire cryptocurrency system that is continuously updated after every transaction or record insertion and synchronized across all the nodes of the system.

A blockchain is essentially a decentralized database. It has one common ledger, which everyone holds on to, and no single person controls it. Security for each user, in this case, is maintained through cryptography, where every user holds a private key for them to access their funds or make transactions on their account without even having to tell anyone else about it.

  • Proof of Work

In Blockchain, Proof of Work (PoW) is used to validate transactions. It is a system that requires some computationally heavy tasks to validate the BlockBlock and add it to the chain. This ensures that the data added to a blockchain is not false or manipulated in any way.

In Bitcoin, miners must solve complex mathematical problems before adding data blocks on the Blockchain. The person who solves this problem gets rewarded with new bitcoins exchanged for money. Solving these mathematical problems before adding a block onto the Blockchain is known as proof of work.

Tokens are a type of cryptocurrency. Blockchain is a platform on which new cryptocurrencies can be launched. A token introduction is usually not a big event. The creator will copy the code from an existing cryptocurrency, change the coins’ name and number, and release it to the public. Token creation is an important aspect of the blockchain ecosystem, and it provides a way for developers to issue a new asset without requiring (from) third-party funding. With tokens, developers can set their own rules and establish a revenue model that works for them.

The Benefits Of Blockchain And Distributed Ledger Technology:

Benefits of Blockchain:

  • Transparency

The Blockchain can provide data in real-time and is completely transparent. All records stored in a blockchain are updated to the network at all times, and hence, there is no room for tampering with any of the data stored on the network. Any changes or alterations will be visible to every part of the network, making it extremely transparent.

  • Decentralization

A blockchain is decentralized because all records of transactions are available for viewing by every participant participating in the network at that time. This makes it safer than being controlled by a central authority who can decide what should be included in the database or not.

  • Immutability

There is a high level of security with a blockchain since all its data can be verified, and any change to it can be seen immediately by everyone. Even if an individual manages to add a new block, the data in the Blockchain will surely be kept intact as all other records have to follow the same procedure for the blockchain to be verified.

In addition to using blockchain technology for storing records, it can also serve as a full notary service. A blockchain notary is designed to keep track of all digital transactions made to date in real-time. It produces verifiable proof stating the transfer of assets and contents made on a distributed ledger network such as bitcoin or Ethereum.

  • Transactions

The Blockchain can help with the speed of transactions since there is no requirement to wait for anything to process before adding it to the chain. This helps with saving time when making transactions and also in communication. Since all notifications are sent immediately, there would not be a delay compared to other payment methods like Visa or Mastercard, where you have to wait for days before you get your money back. The transaction itself does not require any fees or commission, which means it remains completely free for both parties involved.

Benefits of Distributed Ledger Technology

Although a distributed ledger is decentralized and the records are public, exposing all blocks to the public does not mean it is insecure. Authorized users can only access blockchain networks through private keys. This helps mitigate any security risks associated with hacking since, as mentioned above, hacking is a very difficult task in a decentralized network. Even if someone manages to hack into the system, they would still need to access your private key to access your account and make any transactions on it.

  • Consistency

The distributed ledger technology (DLT) works like a database where every record is updated when a new record is added. This eliminates inconsistencies or errors due to several copies of data being stored on multiple computers.

  • Decentralized by nature

The decentralized nature of distributed ledgers offers another degree of protection. It really is difficult to challenge the database since it is distributed worldwide.

  • Exceptionally transparent

Transparency is a key feature of distributed ledgers. They make it possible to see all of the information that has been saved in a free and easy manner. It offers several sectors with a great level of openness.

  • There is no requirement for a third party

Although it is not always required to manage distributed ledgers without the help of a third party, in certain circumstances it may save a lot of money and time. Sensors may immediately write findings to the blockchain in the supply chain industry, eliminating the need for a third party. It helps you save a lot of money, time, and effort.

Final Takeaway:

Blockchain technology is revolutionizing the financial world. It is a decentralized database that can store currency or any other form of data. Due to its transparent and peer-to-peer nature, Blockchain is a lot more secure than traditional or centralized databases. The technology has now begun to be used in various fields, ranging from banking and finance to music and digital media. Its ability to handle large amounts of data efficiently makes it ideal for future use as an alternative to other payment systems such as Bitcoin and Ethereum.

Suppose you want a quick and easy way to exchange your fiat currency into cryptocurrencies or want the most accessible, transparent, and secure platform available. In that case, Bitcoin (BTC) will be all you need. This is probably the most widely accepted cryptocurrency, and it’s very easy to set up an account with a wallet using BTC or ETH. It has high liquidity due to its popularity, so it can be transferred easily without being too expensive. It has also been around for quite some time compared to other cryptos, making it stable.

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A blend of leadership, management and blockchain technology

A BLEND OF LEADERSHIP, MANAGEMENT AND BLOCKCHAIN TECHNOLOGY

Understanding leadership and management

For the most part of my life, I have been involved in Leadership and management Development as it concerns its applications to life, economic development, business growth and human relation.  

Leadership is defined as a social relationship between two or more persons who depend on each other to attain certain mutual goals in a group situation while Management is generally defined as the process of planning, organizing, directing, and controlling the activities of employees in combination with other resources to accomplish organizational objectives.  

So, in a way, management is taking the leadership concept and putting it into action. 

With leadership and management, one thing is a common factor, People. Without people, there will be no leaders and managers.  People are the essence of leadership and management and the truest test of great leaders and managers is how well they deal with the people they are working with. 

 

The trust challenge

However, there is a lifelong challenge that has existed as long as humans have, it’s trust. With every human dealing comes trust.  

Trust is the foundation of any successful relationship, both personal and professional, and when it’s broken, it is extremely hard to repair. When employees feel they can’t trust leadership they feel unsafe, like no one has their back, and then spend more energy on self preservation and job hunting than performing at their job.  

Lack of trust in leadership is a red flag that the business is having a “toxic” culture. No one likes to come to work every day and feel they are walking into a toxic waste dump. Employees will do the job requested of them, but without trust in leadership, they’re not likely to go above and beyond to help create a high-performance organization. One of the cruxes of leadership and management is TRUST. Trust is key to creating successful cooperation between leaders and the people they are leading. Trust depends on engagement and open collaboration. Effective leaders and managers are those who are people-oriented and technically savvy to empower others to work actively towards strategic goals. Lack of trust reduces transparency and communication. Reduced transparency and communication lead to low innovation and lack of agility and responsiveness to changing conditions. Which will impact on the bottom-line profits.
 

How blockchain technology is bridging the trust gap

The era of the internet came and empowered the world with interconnection. However, it did not provide it with trust. The lack of trust in our society is the reason for the existence of powerful intermediaries aggregating power. For organizations, time, energy, money and passion are constantly wasted on verification of happenings. 

With the advent of Blockchain Technology, the trust gap is being closed up with the technology giving rise to a new platform for business relationship that combines ease of use, low cost and high security. It creates a new basis of trust for business transactions that could contribute to a considerable simplification and acceleration of the economy. 

With blockchain technology, value creation is rearranged, with experts directly collaborating with each other, and hierarchy being eliminated. This could, in turn, render managers obsolete, as a blockchain infrastructure will automate most of the tasks. As a result, only a strong, action-oriented, leadership would maintain the organisation together. This leadership-in-action would consist in igniting people to take action; coach members of the organisations so that their contribution makes sense in the greater context of life. 

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Blockchain Weekly Source

Azure vs AWS vs Oracle Blockchain Solution

Azure vs AWS vs Oracle Blockchain Solution

The rising adoption of blockchain technology across several industries has made it one of the biggest game-changers of the fintech industry. In the past few years, multiple tech giants have come up with customized blockchain solutions to serve their users better. As a result, BaaS ( blockchain-as-a-service) has gained more and more popularity among the tech-geeks. Many ambitious students and professionals are showing interest to learn blockchain technology to make the most of the lucrative career opportunities this field has to offer. Are you one of the aspirants? In this article, we will compare the Amazon Web Services (AWS), Oracle, and Microsoft Azure Baas platforms and check out all their features and benefits.

 

The Rise of BAAS: Blockchain-As-A-Service

Almost every major technology corporation has started to delve deeper into the blockchain marketplace. Besides Microsoft, Amazon, and Oracle, brands like SAP, HP, and IBM have also onboarded their BaaS solutions. 

 

The Comparison Between Oracle, AWS, and Azure 

 

If you are totally new to the concepts, a little backstory will be useful for you before diving into the comparison. So, let’s learn about all three BaaS solutions before you sign up for blockchain technology training.

It is clear that blockchain technology is highly benecifial for a vast range of use cases in multiple sectors. However, because of its newness, complexities, the rapidly changing nature, the cost to develop and launch a blockchain-based system is significantly huge. Additionally, there are other barriers like the lack of skilled professionals leaving many organizations unable to adapt to the next-gen technology. Therefore, the creators of BaaS solutions are trying to fill the gaps in the marketplace. Moreover, many renowned blockchain training and development centers are providing advanced blockchain technology courses to make the aspirants future-ready. 

 

AWS Blockchain Solution 

 

Let’s begin the discussion with AWS, aka Amazon Web Services. In 2018, Ale Flores, the Blockchain Global Segment Lead at Amazon Web Series, announced their partnership with ConsenSys, a blockchain technology-focused agency. This partnership happened to initiate Kaleido, a brand-new blockchain solution. The launch of Kaleido followed similar announcements made by Microsoft’s Azure, IBM, and Oracle. 

 

What are the Salient Features of AWS Blockchain Solution? 

First and foremost, AWS Blockchain Templates are the most popular products. These templates allow the blockchain app users to set up Ethereum networks or Hyperledger Fabric in a quicker way. Additionally, AWS also allows users to access affordable resources to quickly deploy the blockchain network. Some of the important features of the AWS blockchain solution are: 

  • It secures the tech companies when the users add permission to access the AWS resources. The companies can also access the resource activity at any time by logging in to the AWS CloudTrail 
  • AWS blockchain solution is a pay-as-you-go service. So, the users only pay for the services and the amount of time they use it. Clearly,  AWS resources are affordable. Also, the users don’t also need to pay any upfront fees or termination fees as there is no need for a long-term contract between the user and the AWS platform. 
  • AWS also provides you with an array of options for the enterprise blockchain framework. You can choose from Hyperledger Fabric, Corda, Ethereum, so on. 
  • You can quickly deploy secure blockchain networks with AWS blockchain templates. To learn more about it, enroll in the best blockchain certification available out there. 

The Key Products Of Aws Blockchain Solutions 

 

AWS Blockchain Templates  

The AWS blockchain templates are the primary products of the BaaS solutions. They allow the users to choose between Ethereum open-source framework or Hyperledger Fabric to deploy a secure blockchain network in the fastest way possible. 

With the advanced, cutting-edge templates, you don’t need to waste much time setting up your blockchain network manually. It allows you to just deploy the AWS CloudFormation templates and prioritize your blockchain application only. 

What Are The Benefits? 

Other than the pay-as-you-go feature, AWS blockchain solutions also offer fast blockchain deployment on Amazon EC2 or EC3 virtual servers. No matter which framework you choose, you can access features like distributed consensus algorithms, functionality, access control, and other important blockchain features. The AWS templates also come with  management tools that help you browse, monitor, and manage your blockchain development project. 

 

Microsoft Azure Blockchain

 

Microsoft Azure Blockchain was the first large tech company to announce BaaS functionality to developers and companies. Plus, it also initiated the first attempt to preserve and secure the digital identities on a blockchain network. 

 

So, when you are looking for a time-saving blockchain product, Azure is the pioneer in the BaaS industry while having the largest compliance portfolio in the marketplace. This company claims to provide low-cost, low-risk, quick, and fail-proof BaaS solutions. 

What Are the Salient Features of Microsoft Azure Blockchain?

Some of the most significant features of the Azure Blockchain Solution are: 

  • Azure blockchain majorly cuts down the development time by providing the users with pre-configured infrastructure and networks. It also allows the users to develop decentralized applications in a seamless and fast way. 
  • Azure tools come with built-in connections so that the users can iterate and validate blockchain developments conveniently. Want to know more about how to develop a decentralized application on Azure tools? Learn blockchain technology from a reputable blockchain institution. 
  • With a globally available cloud platform, you can secure your data. The scalable solutions also allow you to expand or reduce the time frame at your convenience. 

The Key Products Of Microsoft Azure Blockchain

Just like the AWS solution, Azure also provides different solutions based on the framework you want. Additionally, they also offer more personalized partner solutions. Let’s check out more about the solutions. You can choose from multiple products as mentioned below: 

Azure or Ethereum  

With the use of Azure, working on Ethereum, the most commonly used blockchain network, gets easier. Azure comes with a vast range of pre-configured network topologies and with the help of these, you can deploy the network within minutes. Plus, this solution also involves unique features like the ability to manage nodes with cross-region deployments, easy VM scale sets, and monitoring tools. 

Hyperledger Fabric 

You will get Hyperledger Fabric 2.0, one of the most popular frameworks, on the Azure platform. It will be the best product to use if you want to deploy services for membership ordering or for validating peers. It is needless to say that deployment is fast and easy on the Hyperledger Fabric. 

Corda  

If you want to work on decentralized applications available in financial sectors, Azure’s Corda distributed ledger technology is highly beneficial to work on the blockchain platform. It helps the users to deploy a multi-participant network with ease. Additionally, you can also work with peers, notaries, and a network map. 

Azure Blockchain Workbench 

If you are looking for a solution that ensures the quick development of blockchain applications, it is a complete Workbench solution for you. Azure blockchain workbench is a user-friendly web interface when compared to AWS. 

DevTest Labs for BaaS solutions

 

You can easily create a lab for a team to contain all the team templates and policies. 

 

What Are The Benefits? 

 

Azure blockchain solution comes with a vast range of benefits over its competitors. First and foremost, the users have the scope to choose from an array of the blockchain platform options like Chain, Ethereum, Hyperledger Fabric, Quorum, and much more. 

 

All these frameworks are available in multi-node, single-node, and multi-member topologies. Multi-member topology is one of the strongest among all and it allows you to create a large network including multiple organizations. Plus, each organization keeps its administrative control as well while the development process is going on. 

 

Oracle Blockchain Solution 

 

Oracle followed Microsoft’s footsteps and onboarded Oracle Blockchain, its B2B blockchain solution model in 2017. This enterprise-grade platform is targeted towards businesses and enterprises and offers the customers a fully-managed approach. In 2019, Oracle Blockchain further launched its on-premise version. 

 

Oracle’s senior vice president, Zavery, once told in a press conference that they introduced the on-premise version so that various companies can work on open-source blockchain development projects and customize it according to their convenience. They can also add confidential security, permissions, and APIs. 

 

What Are the Salient Features of Oracle Blockchain Solution?

 

Here is the list of some unique key features of Oracle Autonomous Blockchain Cloud Service: 

  • Oracle blockchain is a fast and seamless way to deploy applications. It offers a fully preassembled and managed blockchain service. With the knowledge and skill-sets gained with extensive blockchain technology training, you can seamlessly provision the whole process on the cloud. 
  • The Oracle Solution allows you to develop blockchain applications and networks on an open-source Hyperledger Fabric framework and deploy those in multi-cloud, multi-region, and hybrid topologies 
  • Use the built-in API gateways and other on-premise applications like Oracle SaaS, and third-party applications. 
  • The Oracle blockchain platform is exclusively designed to provide enterprise-level features like live Analytics, Oracle DB, fine-grained on-chain access control, on-request audits, role-based identity management, and certificate revocation management.
  • The in-built Blockchain App Builder provides a low-code development tool that generates extensible smart contracts automatically from declarative data structures. As a result, it also aids in fast testing, development, and deployment. 
  • The Oracle solution is a great option when you are looking for blockchain development in a very short span. It is simple to integrate and configure, with high-dynamic availability, greater attention to security, ease of operation, and flexibility to enhance the network topology. 

 

The Key Products Of Oracle Blockchain

 

Under the Oracle Blockchain Platform, you will get a cloud service that comes in a standard (up to 7 peer nodes) and an enterprise (up to 16 peer nodes) SKUs.This blockchain platform allows you to build blockchain decentralized apps on the Hyperledger fabric.  Automate your transactions with the chain codes, also known as the smart contracts that you can write on Java, Go, or JavaScript. Along with that, you can also use Ethereum smart contracts, deployed on Solidity. 

 

Most importantly, Oracle allows you to develop hybrid blockchain networks, which means that you can collaborate with partners even outside of the Oracle Cloud (if they are also using Hyperledge Fabric). 

 

If you are wondering about the available tools, Oracle blockchain offers a Trace SaaS application and an Intelligent Track application. The users can leverage these tools to trace, track, and monitor transactions, their associated assets, documents, and items across their supply chain. 

 

What Are The Benefits? 

 

When compared with Azure and AWZ, Oracle is trailing behind. However, it is also giving its hundred percent to lure more and more users to blockchain solutions. 

 

Unlike Azure or AWS, this product is an Enterprise Grade solution and you will get no other solutions from the partners. However, if an organization is looking for an autonomous and secure blockchain solution, Oracle is a great option with the ability to auto-backup every transaction.

The Final Verdict        

 

It is clear now that the blockchain market is on the verge of rising exponentially in the upcoming years. While AWS and Oracle Blockchain come up with good BaaS offerings, Azure turns out to be the most popular out of the three platforms mentioned in this article. In addition to that, in 2018, Azure was the most used cloud platform all over the world.   

The increasing rate of mass adoption of blockchain technology also makes the industry the most upgraded revolution of the fintech industry. With so much potential, you might want to learn which among the three would be the best option for you to build a sustainable career. No matter what, all three BaaS solutions are important when you are enrolling in blockchain technology courses.

                                                

 

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Blockchain Ledger Vs Ordinary Ledger: A Detailed Comparison

Blockchain Ledger Vs Ordinary Ledger A Detailed Comparison

Are blockchain ledger and ordinary ledger the same? No. This is a common error that many people have. In this article, we explore blockchain ledger Vs ordinary ledger and its key differences.

We are residing in a modern digital era of sound bites and buzzwords. Most importantly, all system participants can ascertain that every modification in the ledger’s state complies with all the system’s regulations. In an ordinary ledger, the bank notifies you about your balance. They can tell if it’s a million dollars or a thousand dollars.

But in a blockchain ledger, if they learn that your balance is about to touch million dollars, the bank will only notify that your current balance is less than a million dollars to ascertain a legal state change from the prior balance. In other words, rather than stating balances, they ascertain that funds were transferred.

This article will tell you how a blockchain ledger preserves the integrity of data far better than an ordinary ledger by using blocks. 

What is a Blockchain Ledger?

The blockchain ledger is a digital ledger system that is distributed and decentralized. The blockchain ledger is a digitized, decentralized, public ledger, where any account is kept simply by mentioning up to its source.

It not only deters the centralized vision but also provides additional transparency, data integrity, and so on. Therefore Blockchain is an incorporation-able digital ledger of transactions programmed to record virtually everything.

In reality, the ledger technique in blockchain technology generates a chain-like structure while compiling data or records. Any data augmented to the ledger will shape this structure, thus explaining the name blockchain 

Essentially, a blockchain ledger consists of a chain of blocks wherever every block maintains information or records. These blocks can be called databases, though; databases are, however, utterly incompatible within the sense that they need central management and direction practiced over them.

Each previous block in the Blockchain is coupled to the next block. Thereby creating a linked chain of data scattered in blocks making it tough to change or revise.

However, during this ledger system, security enhancements are implemented in the possible way that every block is cryptographically encrypted using hashing. This way, users with the proper key will “unleash” the info confined within the block. 

For instance, Blockchain ledgers are immutable, which means they’re inflexible and can’t be modified by any means or deleted by anyone. Once recorded, the data lives within the block forever in its essential feature!

How Does Blockchain Ledger Work?

Your data is protected in blocks, and each block comprises your data, hash, and hash of the prior block in encoded structure. Hash is a unique ID like your thumb impression, linked in the blockchain system in virtual mode.

If you aim to amend the data in any block, then the hash of that block will enhance, and you will have to make amendments in the next block and follow the same process in all such blocks, and it will take a lot of time to attain this process.

It takes 10 minutes to convert or hash a block, but if the number of blocks is in the millions, it can take more than 100 years.

When we speak about bitcoin or cryptocurrency, with the aid of Blockchain, the transaction details are secured in the block. If a transaction takes place, all the computers or miners in the network have to verify the transaction for which they receive the cryptocurrency as a reward.

What are the benefits of Blockchain Ledger?

This article presents why this innovation is more advanced than a standard database and how it can improve our daily lives. The main features of the blockchain ledger act as bookkeeping to record all transactions in the Blockchain Technology System.

Blockchain is distributed, secure, transparent, immutable, and accessible. These are the main features of the Blockchain ledger:

Distributed:

Standard Databases have a centralized pattern that revolves around a major point of power. Once it is destroyed, the whole system ceases to function. On the other hand, blockchain ledger has a distributed structure and no main control point. This protects the system from corrupted nodes. Blockchain Ledger does not store any of its data at the centralized location. Instead, a network of computers replicates and distributes Blockchain. Each computer updates its Blockchain to real-time to show the insertion of a new block.

Secure:

The blockchain ledger is made out of digital blocks which contain information of every transaction ever made on the system. Once the data has the system that rejects the tampered information and remains secure, this makes the data immutable.

Immutable:

This data can’t be changed, and a new block is created whenever an update takes place. That means they’re inflexible and can’t be modified by any means or deleted by anyone. Once recorded, the data lives within the block forever in its essential feature!

Transparent:

So many people acquire products without understanding their concepts. On the other hand, the Blockchain allows consumers to access the whole history throughout its supply. It is available and allows different parties to share information, ensuring a smooth and fast flow of data.

Traceable:

Once the records get assessed before a node gets added into the ledger, thus it’s simpler to track or trace any data. This is a common usage of the blockchain ledger. That’s why many industries are using it; specifically, Blockchain for the supply chain is widely common.

Now, it’s time to talk about an ordinary ledger, how it works, and the benefits of using a normal ledger. Let’s get started.

What is a Usual or Normal, or Ordinary Ledger?

A ledger is a book that maintains such accounts where debits and credits transactions are posted from the book where the original entries are made. Or rather, the entries from the original book are updated in this ledger.

Layman’s terminology is entirely a document we develop to identify our worth of possession, earnings, liabilities, capital, and expense.

A general ledger is used by companies and organizations that use double-entry bookkeeping. This means that each financial transaction affects at least two sub-account accounts, and each entry contains at least one credit and one debit transaction.

Also known as journal entries, double-entry transactions are posted in two separate columns, with credit entries on the right and debit entries on the left. Also, the sum of all credit and debit entries must be equal.

An original ledger records huge financial statements of firms with credits and debits. This enables a corporation to keep track of its costs and earnings, contributing a complete understanding of its monetary profile.

How does Ordinary Ledger work? 

An ordinary ledger is no less than the foundation of a company’s system, used by accountants to keep and organize the financial data used to develop the company’s financial statements. Transactions are posted to specific sub-ledger accounts as per the company’s chart of accounts. And then, these transactions are summarized or closed in the general ledger. Thus, the bookkeeper creates a trial balance, which reports the available balance in each ledger. This trial balance is checked for defects and errors and adjusted by submitting additional required entries; Thus, the financial statement is made.

What are the benefits of using an Ordinary Ledger?

An ordinary ledger is used by companies and organizations that use double-entry bookkeeping. This means that each financial transaction affects at least two sub-account accounts, and each entry contains at least one credit and one debit transaction. 

An ordinary ledger is also known as journal entries; double-entry transactions are posted in two separate columns, with credit entries on the right and debit entries on the left. Also, the sum of all credit and debit entries must be equal.

In brief:

  • The double-entry bookkeeping system is with success applied through the ledger as a result of it recording the twofold aspects of every transaction.
  • Ledger info relating to specific persons or things is recorded one by one within the account. This allows the business to see the accumulated figures for every account.
  • Ledgers build it attainable to research the overall incomes and expenses of a business over a specific amount (i.e., the commercialism and profit & loss account).
  • By opening separate accounts for numerous assets and liabilities, it’s additionally possible to be told regarding the monetary position of a business.
  • Transactions are initially recorded within the journal. The ledger is the second stage wherever transactions are posted, therefore minimizing the possibility of errors and omissions.
  • The ledger helps managers by providing vital info required to confirm that the business runs smoothly 

Blockchain Ledger vs Ordinary Ledger: Key Differences

We will now discuss the key differences between blockchain ledger and ordinary ledger to comprehend which one is the best. So, let’s dive into our main concern!

Transparency

A public blockchain ledger can give full transparency to any node. This suggests that any node in the network will read the ledger whenever they want. This promotes trust within the system and omits any scope for information manipulation. However, it is amended to support blockchain technology, as personal Blockchain doesn’t offer full transparency; it only provides partial transparency. On the other hand, only licensed users can access a normal ledger, not giving good clarity.

Authority

In a blockchain ledger, there’s no facilitation of centralization. Blockchain is distributed and decentralized, and it no longer wants any relevant authoritative discern to function. All the system is automated, which eliminates any corruption problems.

On the alternative hand, an ordinary ledger is entirely centralized. This method that a government keeps the ledger and may modify it every time they want.

Encryption

This point is within the blockchain ledger vs the usual ledger comparison report.

Encoding during a blockchain ledger is accomplished by facilitating cryptologic hashing of knowledge in a block. The information is encrypted before adding it to the ledger below the aegis of a unidirectional indeterministic cryptographic hash.

This strategy has unbroken several prowlers and cybercriminals. Trend property users get pleasure from a decentralized and secure dealings facility.

On the other hand, a typical ledger fails to supply this security level, making it easier for hackers to push into the system and misuse it.

Immutability

This feature, too, is entirely withheld by blockchain ledgers. Immutability refers to the impossibility of modification and alterations. Blockchain ledgers provide this feature wherever once the info is kept during a block, nobody can alter or perhaps delete it!

In contrast, ordinary ledgers can be altered or tampered with and might even be deleted whenever we tend to want. They’re not immutable, and they are significantly at risk of data breaches.

Data Integrity

The blockchain ledgers possess data integrity because every data is analyzed before it’s added to the ledger. Blockchain can utilize various consensus algorithms to ascertain the data, and this procedure maintains the integrity of that data.

In the case of ordinary ledgers, humans add the data manually to the ledger; therefore, they may make a lot of mistakes. Users can even alter data; thus, it does not provide data integrity.

Data Handling

In a blockchain ledger system, users are solely allowed to browse and write information. Moreover, once this data is wrapped to a block, it becomes immutable. This only permits them to look at data when the fact, and can’t be altered by any means.

However, in a very standard ledger system, a user has all the liberty to read, write, alter or delete data in any manner and whenever they want! Though a pile of convenience and freedom, this feature is so liable to risks that might even break your bank! 

Blockchain Ledger Vs Ordinary Ledger: An Overview of their Comparison

Features Blockchain Ledger Ordinary Ledger
Immutability Users can’t change records, so it’s inflexible. Users can change records, so it’s flexible.
Data Integrity These ledgers possess data integrity because they are analyzed before it’s added to the ledger. It doesn’t possess data integrity as users might make mistakes.
Authority These are decentralized and distributed. All the normal ledgers are centralized.
Transparency It offers full/partial transparency. Only authentic users can access the ledger.
Encryption The data is encrypted, and it offers better security. No encryption is employed. Therefore, data is likely to be manipulated.
Data Handling Users can only read and write data. Users can read, write, alter and delete the data.

Conclusion 

The first and the main difference between the blockchain ledger and the ordinary ledger is Blockchain. Blockchain is a digital ledger that can be decentralized very quickly. The possibilities of getting errors in this process are far less than that in an ordinary ledger. An ordinary ledger is prepared by hands or effort while the Blockchain automatically performs all its tasks. You need to configure it correctly and by following all the guidelines. We have mentioned all the key differences between blockchain ledgers and ordinary ledgers. Please do not forget to share your views regarding this blog post. 

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