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Security |
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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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Transactions are confirmed and validated through validator nodes.
The more trusted validators in the network, the harder it will be to control and change the ledger as an outside attack.
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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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Permissioned
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Permissioned
Anyone can become a validator, but will only be relevant if trusted.This provides public support for infrastructure, but keeps the transaction nature private when needed.
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Permissioned
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Privacy concerns are addressed through the pluggable uniqueness services, and restriction of viewing transactions.
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Transaction information on the ledger is public, but payment information is not.
This means that in the event of a security breach, no personal financial information can be compromised through this network.
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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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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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Ripple Protocol Consensus Algorithm
70+ validators
Applied every few seconds by all nodes. Once consensus is reached, the current ledger is closed. Most recently closed ledger is known as the last closed ledger and is the basis of the distributed ledger.
For more information: https://vimeo.com/64405422
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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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Fast
Built for financial applications
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Fast
3-4 seconds : set to improve with future updates. See future planned work.
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Varies
Depends on implementation
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Block Confirmation Time
Details
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TBD
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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
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Open source with proprietary applications
The Ripple protocol is open source: https://github.com/ripple . Proprietary work is xCurrent, xRapid, xVia
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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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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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Permissioned Network, Public Architecture
Ripple uses a decentralized network, but has trusted validator nodes who confirm transactions through the 'last closed ledger'.
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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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Less focus on modularity
Focus is on financial applications, but may support more use cases in the future.
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Yes
3 different plug and play offers on top of the protocol layer for specific needs: xCurrent, xRapid, xVia
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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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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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1500 TPS with potential of tens of thousands through Ripple Payment Channels
While it does not compare to the tps of a Visa transaction (~150,000), Ripple offers a stable solution for the size it it currently at.
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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
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Large
The ledger is constantly refreshed as soon as there is a new input in the network. The last closed ledger model is different from the blockchain, in that there are no history of blocks for the distributed ledger.
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500 transactions per block
Same as Hyperledger Fabric
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