Hyperledger v/s Ethereum

A comparison probably can be made between Ethereum and Hyperledger Fabric (one amongst the many Hyper ledger project).

The most fundamental difference between Ethereum and Hyperledger is the way they are designed and their target audience. Ethereum with it’s EVM, smart contract and public block chain is mostly targeted towards applications that are distributed in nature and are for mass consumption. A look at ethereum dapps (distributed applications) seem to hint the same: https://dapps.ethercasts.com/.

On the other hand, Fabric has a very modular architecture and provides a lot of flexibility in terms of what you want to use and what you don’t. It’s pretty much ala carte and is targeted at businesses wanting to streamline their process by leveraging blockchain technology.

For example, it is not possible in ethereum to have a transaction visible to someone, but not visible to others (a requirement that is very common in business). Fabric allows this and much more.

Another major difference is the consensus algortihm used in Ethereum v/s Fabric. Ethereum uses PoW (Proof of work), whereas Fabric allows one to choose between No-op (no consensus needed) and PBFT (Practical Byzantine Fault Tolerance). PoW is known to be energy sucker and could really impact the practicality of using Ethereum in the long run. However, one must mention that Ethereum too is trying to move towards proof of stake in it’s next release Casper.

Ethereum has a built in cryptocurrency (eth) and thus can be a very good match for applications that need this inbuilt. However, this could also be a disadvantage as there are several use cases where the cryptocurrency is not really needed.

This is not to say that Ethereum can not be deployed as a private block chain for a business. The fact that it has a really matured ecosystem and makes the development of smart contract and business logic really simple is a huge plus. Also, at the moment it is easier to find ethereum dapps developer than fabric developer. Fabric on the other hand is pretty new on the block and just warming up.

To conclude, we feel that in future most enterprise apps would get tilted towards Fabric, whereas Ethereum would continue to be a hotbed for dapps that are more B2C.

2 Ways of Ethereum Development

All that you need to know about the decentralized platform for applications that run exactly as programmed without any anomaly.

Ethereum is swiftly emerging as a revolutionary technology that has the power to disrupt almost all industries. Organisations are recognizing its power and potential to make processes more secure and efficient and are opting for Ethereum development.

Ethereum development facilitates the development of decentralized applications of the next generation.It has grown exponentially in terms of scale and interest and promises to overhaul open-source development.

It involves creation of a shared platform which is flexible yet secure. Ethereum development facilitates creation of a blockchain protocol using its own native programming language. The application is written on the top. This arrangement is supported by most existing applications and creates development momentum for creation of groundbreaking future applications as well.

Ethereum Development

What is Ethereum Dapp?

Dapp is decentralized application that serve particular purpose to users. They are built up on a code that runs on a network of blockchain, no single user or entity controls them.

What is DAO?

DAO stands for Decentralized Autonomous Organizations, they are fully autonomous with no single ledger and are run by a programming code on Ethereum blockchain smart contracts.

Benefits of Ethereum Decentralized Platforms?

No Down time : Apps made on Ethereum blockchain can never be switched off or can go down.

Consensus based security : Principle of security is consensus based thereby making censorship possible. Ethereum development also immutable as no changes can be made to the data.

Elimination of central point of failure : Apps developed on Ethereum are protected cryptographically against fraudulent activities.

Can Ethereum development add value to your business?

Benefits of Ethereum :

  1. Inhibition of wasteful code and keeping cost of Ethereum development low.
  2. Lower operational costs due to increased efficiency.
  3. Elimination of Third party intermediaries.
  4. Rules of smart contracts are automatically enforced.
  5. No need of legal mediation for enforcement of smart contracts.
  6. Powered by nodes
  7. Nodes are immune to interference and crashing.
  8. Paves way for efficient outsourcing by setting milestones for payment.

Current Uses of Ethereum

  1. Preventing identity theft : Consumer information is secured through cryptographic protocols.
  2. Improving transparency in crowdfunding : Implementation of Ethereum enable refund easily if project goals aren’t met.
  3. Reduction of operational fees : Significant reduction in exorbitant online payment fees, high currency exchanges and complicated remittance processes.

Future of Ethereum Development

It is estimated that within this decade most entrepreneurs will run their business processes on private blockchains. Ethereum is a transformational platform and for Ethereum development many unimagined possibilities await!

“In essence, the fundamental benefits of investing into Ethereum is the cryptographic nature, it’s anonymity, it’s universality, it’s divisibility, and most specifically, its coding language which specifically targets it for automated transactions and contracts.”

Jeff Reed, Investing in Ethereum: The Essential Guide to Profiting from Cryptocurrencies

About Techracers

Techracers as a blockchain studio is committed to sustain the innovative momentum of blockchain as a technology and have employed skilled professionals to facilitate development of blockchain solutions and applications. At Techracers, we specialize in creating ERC-20 token, smart contracts in Ethereum,Solidity, building distributed ledger using Hyperledger fabric and creating custom Blockchain forked from multi chain, Ethereum development and Blockchain services.

We ensure that our clients needs are aligned with our technical expertise to meet the project’s objectives within a reasonable timeframe. Get in touch and share your next Ethereum development idea and give us an opportunity to assist you.