choosing the right blockchain platform · 2019. 10. 29. · 1. bitcoin 2. ethereum 3. current...

Choosing the Right Blockchain Platform

NV Narendra KumarIDRBT, Hyderabad

nvnarendra@idrbt.ac.in

Key Considerations

• Scalability

• Security and Privacy

• Throughput

• Governance

• Consensus

• Smart Contracts

Blockchain Platforms

Prominent Platforms

• Public/Permissionless• Bitcoin

• Ethereum

• Private/Permissioned• Hyperledger Fabric

• Corda

• Multichain

• Quorum / Enterprise Ethereum

• Ripple

DATA

P P P P P

Bitcoin / Ethereum – Structure

Bitcoin / Ethereum – Flow

1. Validate Anyone (Peer)

2. Order + Execute Anyone (Miner)

Hyperledger Fabric – Structure (1)

Orderer

EE

PP

C

CD

Channel

EE

PP

C

CD

Channel

EE

PP

C

CD

Channel

Hyperledger Fabric – Structure (2)

Orderer

Channel

EP C

T S

Hyperledger Fabric – Flow

1. Validate Endorsing Peer (E)

2. Order Orderer

3. Execute Committing Peer (C)

Multichain / Quorum – Structure

T

P P P A A

S S S S S

Multichain / Quorum – Flow

1. Validate Transacting Peers (P/A)

2. Order Administrative Peers (A)

3. Execute Transacting Peers (P/A)

Corda – Structure

Notary

N N N N N

D D D D D

Corda – Flow

1. Validate Transformation Transacting Nodes (N)

2. Order Notary

3. Validate Ownership Notary

4. Execute Transacting Nodes (N)

Consensus

Emergent /Local

Explicit

CrashFault

Tolerant

ByzantineFault

TolerantPaxos, RAFT PBFT

Longest chain, GHOST

Public Blockchains

Permissioned Blockchains

Trust derived frommathematical

hardness

1. Bitcoin2. Ethereum3. Current centralized systems,

Corda and Hyperledger Fabric with centralized notary / orderer4. Multichain and Quorum5. Corda and Hyperledger Fabric with BFT notary / orderer

Platform Summary (1)

Consistency

Throughput

12

3

4

5

1. Bitcoin, Ethereum, and Hyperledger Fabric within channel2. Corda, and Hyperledger Fabric between channels3. Multichain, and Quorum

Privacy

TrustedFlexibleInteroperability

1

2

IDEAL

3

Platform Summary (2)

Use Cases

Use-Cases by Industry

Use Cases

Currency

Digital Asset Management

Private CBDC

Value Information

Others

Benefits: Auditability, Process standardization and automation, Transparency, Resiliency, Security, Enhanced collaboration