Jun 28th 2022 | 07:42 | 3 min read
Hyperledger Fabric VS Ethereum – A Comparative study
The blockchain hype is skyrocketing, and enterprises are now eager to explore the use case of blockchain for their business. Enterprises want to invest more resources in employing blockchain solutions for their growth. Platforms such as Hyperledger and Ethereum are making headlines daily. But there is a general confusion prevailing about Hyperledger fabric vs Ethereum. Here we are bursting that bubble and explaining these two platforms in detail.
Understanding Hyperledger Fabric
Ethereum is an open-source decentralized and distributed platform for various decentralized applications. Vitalik Buterin was the cofounder of Ethereum in 2015. It became famous for its cryptocurrency ETH or ether. You can use the Ethereum app without furnishing personal details as the Ethereum economy is value-based and not surveillance-based. Other than finding its use in digital currency, Ethereum can execute smart contracts and process financial transactions. Only internet service is required to access the borrowing and lending products of Ethereum.
HYPERLEDGER FABRIC VS ETHEREUM
|Governance||Ethereum Developers||Linux Foundation|
|Throughput||-20 tps||> 2000 tps|
|Operation Mode||Permissionless / Public||Permissioned|
|Application Type||A Range of industries||A Range of industries|
|Consensus Mechanism||Proof of Work (PoW)||Pluggable mechanism|
|Language of Smart contract||Solidity||Golang, Java, NodeJS|
|Cryptocurrency||Ether (ETH)||No cryptocurrency|
|Purpose of Platform||Run smart contracts on EVM||Enable collaborations and develop personalized blockchains|
|Peer Role||Several nodes participate to complete a transaction||DLT (Distributed Ledger Technology)|
|Confidentiality||Less as transactions are visible to all the members||High as transactions are visible only to authorized members|
Benefits of Hyperledger Fabric
– Best suited for all enterprises that cannot depend on public platforms and need their privacy.
– Protection of sensitive information that is not visible to the competitors outside.
– Open-source platform: Anyone using this platform need not pay anything to Hyperledger. All
you need is a team of experienced developers who can create their platform around it.
– Serves all the benefits of the technology while safeguarding the company’s integrity.
– Includes pluggable options, consensus algorithms, various ledger formats, and customization.
– Private transaction: This feature is available by creating separate channels.
– Wide-ranging: suitable for all industries such as supply chain, healthcare, media, banking, cybersecurity, and real estate.
– Updating quality codes: Hyperledger fabric keeps floating new codes in the market, ensuring the highest quality and enhanced security. Thus it offers protection against hackers.
– Modular Design: It enables developers to use multiple features of hyperledger fabric. It lets you change ledger types and consensus and adds other functionalities or tokens by simply plugging in.
Benefits of Ethereum
– Transparency & Security: Being an open public platform, transparency comes as an aide with Ethereum.
– Immutability: Changes or alterations are not possible in the ledger. Thus, all third-party accesses are denied.
– Zero Corruption: No suspicious activities can be done without catching the eye of the other members.
– Zero Downtime: Applications, transactions, or smart contracts won’t face issues as the ethereum network has zero downtime.
Why do you need professionals to develop apps around Hyperledger fabric or Ethereum?
– Mostly, enterprises require industry-specific features. Getting the source code isn’t all. The developers must be proficient in coding and understanding Hyperledger fabric development.
– Ethereum development is also a niche sector. The developers must be proficient in a programming language – Solidity. An entire team of experienced UI/UX designers, programmers, Testers, and Project managers is required to successfully create and employ Ethereum in your business.
Top 8 Use Cases Of Blockchain That are set out to Reshape The Healthcare Sector
Blockchain has become synonymous with technological transformation and revolution. We all have heard about blockchain in relation to finance, metaverse, NFTs and cryptocurrencies. But do you know that there are pivotal applications of blockchain in the healthcare domain too? Yes!