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Security |
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No data encryption or channel partition and is public.
Merkle Patricia Trie Data structure
Data and contracts in Ethereum are encoded but not encrypted and all data is public - therefore all sensitive data should be encrypted locally and hash stored to prove authenticity.
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Data is only shared between parties involved in the transaction, verifiers, and permissioned observers. This allows an extra layer of security from traditional DLT where the data is spread throughout the network.
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Similar security models to Hyperledger Fabric, but also incorporates the IBM Cloud Services as an added security layer when using the platform.
For more information:
http://hyperledgerdocs.readthedocs.io/en/latest/security_model.html
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Permissionless
Anyone can download the protocol and validate transactions making it less secure
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Permissioned
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Permissioned
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Limited (zk-SNARKs, Ring signatures)
Privacy in this public permissionless network has been limited. Since the Metropolis hard fork, it became possible to integrate more cryptographic operations in smart contracts - two kinds of technologies are implemented: zk-SNARKs and Ring Signatures.
‘Zero-knowledge’ proofs allow one party (the prover) to prove to another (the verifier) that a statement is true, without revealing any information beyond the validity of the statement itself.
Ring Signatures are a cryptographic technology first introduced in 2001. It enables any member of a group of users to perform a digital signature, that can be proven to be made by a member of this group, while it is impossible to determine by which member of the group.
https://btcmanager.com/good-news-privacy-bitcoin-ethereum/
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Privacy concerns are addressed through the pluggable uniqueness services, and restriction of viewing transactions.
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Private channels
Fabric has a unique concept of channels that supports transaction privacy. Private channels are restricted messaging paths that can be used to provide transaction privacy and confidentiality for specific subsets of network members.
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Algorithms |
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PoW & PoS
Proof of work (PoW) + PoS-based public blockchains in Ethereums upcoming Casper implementation. Opposed to the PoW consensus protocol, the PoS protocol achieves consensus through stakers, sometimes referred to as minters who “stake” their coins by locking them down in specialized wallets. With stakers at work, mining will become redundant, meaning the Ethereum network post-Casper will rely on stakers and staking pools instead of miners for its operability.
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Notaries - Pluggable Framework, Validity consensus and Uniqueness consensus
transaction validity and transaction uniqueness.
https://docs.corda.net/key-concepts-consensus.html
Corda uses special Notary Nodes to reach consensus. Notaries are nodes that specifically address double spend attempts.
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Plugable consensus (PBFT)
Fabric’s notion of consensus is broad and encompasses the whole transaction flow, starting from proposing a transaction to the network to committing it to the ledger. It uses the plugable Byzantine fault tolerance (PBFT) algorythm
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Efficiency |
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Moderate
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Fast
Built for financial applications
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Varies
Depends on implementation
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Block Confirmation Time
Details
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~12 blocks
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TBD
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Varies
Depends on implementation
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Development |
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Proprietary Codebase
Details
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Open Source
https://github.com/ethereum/
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Open Source
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Hyperledger Fabric is open source. IBM Blockchain is a proprietary layer that sits on top of Hyperledger as a simple to use platform accessing the blockchain
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General |
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Blockchain / DLT type
Details
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Public with Private Forks
Ethereum can be a public or private blockchain. The Ethereum Main network is obviously a public blockchain, but with increasing enterprise-focus a number of projects and consortiums (Ethereum Aliiance) have been launched that develop private blockchains (e.g. Quorum)
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Not a blockchain. Uses DLT to create transaction efficiencies between permissioned parties rather than the same ledger for the entire network, which R3 Corda believes is inefficient.
https://vimeo.com/205410473
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Federated / Consortium, Permissioned Network
Federated Blockchains operate under the leadership of a group. As opposed to public Blockchains, they don’t allow any person with access to the Internet to participate in the process of verifying transactions. Federated Blockchains are faster (higher scalability) and provide more transaction privacy - important aspects for Enterprise focused deployments.
Based on the Hyperledger Fabric framework.
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Generic, with DApp and Smart Contract support for wider applications
For Ethereum it is not modularity that stands out but the provision of a generic platform suitable for various types of transactions and applications
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Less focus on modularity
Focus is on financial applications, but may support more use cases in the future.
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Plug + Play Architecture
Easy to operate software platform to build out use case, test, and implement
https://www.ibm.com/blockchain/platform/
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limited by PoW
currently supports a maximum of 15 TPS
designed for public networks, limited by Proof of Work (PoW) consensus
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Corda focuses on scaling through reducing inefficiencies in consensus mechanisms. By limiting involvement to just the transacting parties, beneficiaries, and verifiers it aims to position itself as more scalable than PoW
performance considerations https://www.corda.net/2017/12/dlt-performance-considerations/
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Supports 1000 TPS. Designed for high throughput business applications. Scales relative to Hyperledger Fabric new developments.
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Varies
https://bitinfocharts.com/comparison/size-eth.html#3m
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Varies
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500 transactions per block
Same as Hyperledger Fabric
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