Key Points

1. Common enterprise blockchains are: Fabric, Ethereum, Corda
2. Cardano adds contracts to compete with Ethereum
3. Uniswap is a true DAO DEX with funds generated by either protocol fees or uni token sales

References

Session Overview

• Content - Different Blockchain Technologies like Hyperledger,Ethereum,R3 Corda,Multichain etc

• Summary - Key message to be delivered at the end of the session

• Enterprise Blockchain solutions are a strategic investment for an organization. Different Enterprise Blockchain platforms implement unique features and provide some support for common concepts and features as well.
  
  

• The session defines a set of criteria for comparison ( development, runtime environments and application use case fit ) and then compares some of the more popular Enterprise Blockchain frameworks against the criteria ( Hyperledger Fabric, Enterprise Ethereum, Corda, Quorum, Hyperledger Sawtooth ).
  
  

• For each platform, a common application use case is referenced and evaluated for fit.
  
  

• Finally, a set of questions to ask on selection of an Enterprise Blockchain for candidate use cases is reviewed.

• Summary - Key message to be delivered at the end of the session

• Key Takeaway 1

• Identify criteria for blockchain criteria that may be relevant for your use case
  
  

• Key Takeaway 2

• Learn some of the key features and differences between the major Enterprise Blockchain platforms
  
  

• Key Takeaway 3

• Get a set of questions that can help select an Enterprise Blockchain platform for your use case

Enterprise Blockchains key features

Enterprise Blockchains reviewed

Comparison criteria

Ethereum

Corda

Hyperledger Sawtooth

Hyperledger Fabric

Quorum

Review options for your use case

Some have made significant penetration of specific industries

Your use case drives selection criteria

Internal solution vs Consortium solution

Existing organization skill sets

Production environment – single target or multi-platform capable

Integration requirements

Next steps -

industry blockchain strategies and solutions

relevant standards and regulations

opportunity assessment

Key Concepts

Some Other Blockchain Networks

Avalanche - a faster Ethereum

Avalanche is a new blockchain that can process more transactions than ethereum at a much faster rate but at a lower cost. Greenberg said sees it as "a promising technology that does more for less." For instance, if ethereum can support 30 transactions per second, avalanche can do the same for 4,300.

Why is it important? Greenberg points to the rise of new services such as decentralized finance or DeFi, and to the existing infrastructure for such projects.

Cardano - financial services for underserved communities

mCryptoNotes-Cardano

Cardano is also a new blockchain that positions itself as a positive global change, especially with its goal of providing access to financial services in developing countries. Greenberg also said it is more energy-efficient than bitcoin.

<<Cardano not a key blockchain in Fintech for general purpose use cases - architecture concerns as well - can use EVM contracts via a bridge in 2023

Why is it important? For Greenberg, investing in Cardano is for those who believe in its philosophy and approach. Further, the blockchain, she said, regularly updates and "seems to be on track in meeting their projections, which underlines consistency in the blockchain's overall health."
Read more: A Norwegian billionaire who just set up a $59 million unit to invest in the bitcoin ecosystem breaks down his 3-fold strategy - and shares why he believes the digital currency is 'a solution rather than a problem' to many of its perceived challenges

Polkadot - custom blockchains that interoperate

Polkadot is a Swiss blockchain born in the midst of a global pandemic. Jeffery Wang, head of Americas at The Amber Group, a cryptocurrency company, referred to it as "one of the most highly anticipated next-gen blockchains" as it enables developers to build their own blockchains and connect them with each other.
Among other reasons, Wang said Polkadot overcomes the scalability issues that are present in Ethereum. Greenberg and Wang noted that Polkadot is meant to complement Ethereum, not compete with it.

Why is it important? It is a new but promising technology that many dApps developers seem to be keen on, Greenberg said. She also added that the ability to communicate with many blockchains is crucial and encourages investing in polkadot if one believes in the future of decentralized applications.

Cosmos - interoperable blockchain networks separate from Ethereum

Similar to Polkadot, Cosmos is an ecosystem of blockchain that offers interoperability, allowing an exchange of data between different blockchains. The blockchain of cosmos, however, Wang said, is independent and has its own consensus mechanism and validators to secure itself, unlike polkadot and ethereum.

Why is it important? Wang said investors who put money in cosmos are those that are looking for a solution "to help the entire blockchain sector advance by bringing different projects together," not necessarily those who are looking to find a "winning blockchain-takes all scenario."

 
The Graph - network that indexes other blockchains for simple search, queries

The Graph, only a few months old, is a decentralized and open-source indexing protocol for blockchain data, Wang explained. It is not as established just yet, but is called the "Google of Blockchains" by its advocates since the platform can be utilized to search for any data through simple queries.

Why is it important? - While it has little to show, for now, Greenberg and Wang believe that there is huge potential with the graph, particularly with how it can be used to index all blockchains and decentralized applications. The graph's technology, Greenberg added, is already in use by Uniswap, which is a decentralized exchange.

Tezos - MIT EOS blockchain url

Tezos features

Ops >> Self-Amendment. << like VSLT, Fabric

Self-amendment allows Tezos to upgrade itself without having to split (“fork”) the network into two different blockchains. 

Ops >> On-Chain Governance << like VSLT, Fabric

In Tezos, all stakeholders can participate in governing the protocol. The election cycle provides a formal and systematic procedure for stakeholders to reach agreement on proposed protocol amendments. By combining this on-chain mechanism with self-amendment, Tezos can change this initial election process to adopt better governance mechanisms when they are discovered.

Decentralized Innovation << like VSLT, Fabric

Proposed amendments that are accepted by stakeholders can include payment to individuals or groups that improve the protocol.

Client >> VSLT Ledger object state 

Client >> Deterministics Smart Contracts & Formal Verification  << like VSLT, Fabric

Tezos offers a platform to create smart contracts and build decentralized applications that cannot be censored or shut-down by third parties. Furthermore, Tezos facilitates formal verification, a technique used to improve security by mathematically proving properties about programs such as smart contracts. This technique, if used properly, can help avoid costly bugs and the contentious debates that follow.

SC Studio creates, maintains, deployes smart contracts to network

SC supports tokenized asset management based on IWA token taxonomy ( selected items supported now )

SC execution controlled by events, workflows and related multi-party consents ( dynamic or pre-defined authorizations )

SC life cycle with notifications to listeners ( scheduled, requested, executed, failed, committed, finalized )

Client >> VSLT Ledger object state 

Client >> VSLT Ledger object history

Client >> VSLT Ledger object metadata query

Ops >> Proof-of-Stake (PoS) << like VSLT, Fabric

Participants (“nodes”) in decentralized, peer-to-peer networks provide the necessary computational resources that keep a network up and running. Proof-of-Stake (PoS) is the mechanism by which the various participants in Tezos reach consensus on the state of the blockchain. Unlike other PoS protocols, any stakeholder can participate in the consensus process in Tezos and be rewarded by the protocol itself for contributing to the security and stability of the network

Ops >> Delegation << like VSLT, Fabric

In PoS, a security deposit is required to participate in the consensus process and avoid being diluted by inflation. As in proof-of-work, the consensus protocol relies on an honest majority for its security which is incentivized directly by the Tezos protocol by penalizing dishonest behavior and rewarding honest behavior. If a participant behaves dishonestly, they can lose their deposit. Users who do not wish to participate directly in the consensus protocol have the option to delegate their rights to other users to participate on their behalf.

Tezos has many problems

https://www.investopedia.com/terms/t/tezos.asp

Amid investor warnings regarding ICOs by the U.S. Securities and Exchange Commission (SEC), including notice that some are investment securities subject to registration under U.S. law, the Tezos ICO was labeled a fundraiser of donations, though it eventually allocated Tez in proportion to outside contributions.74

The distribution of coins was delayed first by a power struggle between the Breitmans and Johann Gevers, who ultimately stepped down as Tezos Foundation president in early 2018.89

Nearly a year after the ICO, in June 2018, the Tezos Foundation said ICO "donors" awaiting their Tez allocations would have to first submit to know-your-customer (KYC) and anti-money-laundering (AML) verification.1011 As of November 2020, Tezos had verified 94% of the ICO funds.4

Zenon -  

https://zenon.network/

https://cointelegraph.com/news/a-dual-ledger-layer-one-plans-to-supersede-ethereum-and-solana-by-solving-the-blockchain-trilemma-with-a-feeless-paradigm

zenon-cointelegraph-A dual-ledger layer-one plans to supersede Ethereum and Solana by solving the blockchain trilemma wit.pdf

https://www.prnewswire.com/news-releases/zenon-network-introduces-plasma-a-new-standard-for-feeless-blockchain-transactions-301420127.html

https://medium.com/@zenon.network

DEX - How Decentralized Exchanges Work

https://101blockchains.com/how-a-decentralized-exchange-works/?gclid=Cj0KCQiA5NSdBhDfARIsALzs2EATC0rztvR6KwUndlOQiVWlrXUTD8-w7t9qzYRfvqqwMPWq34T-0F4aAqovEALw_wcB

 peer-to-peer marketplaces, which allow crypto traders to carry out transactions without handing over their assets to a custodian or intermediary. Rather than relying on custodians and intermediaries, smart contracts facilitate transactions on decentralized exchanges. The DEXs use smart contracts for executing market transactions through the distribution of transactions to autonomous code. In addition, users can also leverage different alternatives for order fulfillment on the decentralized exchanges with different levels of decentralization. 

DEXs differ from centralized crypto exchanges by bringing in the functionalities of blockchain with smart contracts ( to run the marketplace ). Users can keep the custody of their funds in the smart contracts on blockchain networks.

three different types of DEXs 

Automated Market Makers 

depend on blockchain-based services, known as blockchain oracles, for obtaining information from other exchanges and platforms to determine the price of assets traded on the platform. If you look closely, AMMs present considerable deviation from how decentralized exchange works with matching purchase and sale orders. On the contrary, the smart contracts in the decentralized exchanges leverage pre-funded pools of assets, referred to as liquidity pools. 

liquidity pools 

in AMM-based decentralized exchanges include two crypto assets in a trading pair. Users have to deposit crypto assets in a similar ratio in the pool and become liquidity providers for the decentralized exchanges. Liquidity providers would receive a specific share of transaction fees for all trades executed on the concerned pair. Liquidity providers have to deposit equal value of each asset in the trading pair for earning interest through liquidity mining. The smart contract rejects any transaction which involves depositing more of one asset in comparison to the other. 

Liquidity pools play a significant role in how decentralized exchange work. They enable traders for executing orders and earning interest in a permissionless, trustless and transparent manner. The ranking of such trading pairs on AMM-based DEXs follows the total value locked (TVL) or the number of funds locked in smart contracts. 

You can think of liquidity pools as the massive cash reserves which banks use for offering financial services to their customers. The liquidity pools can give crypto traders adequate crypto assets for purchasing, selling, or borrowing. Therefore, they don’t have to wait for another party to match their transaction request for completing the transaction. 

order book DEXs. 

The order books facilitate the compilation of the documents of all open orders for purchasing and selling assets for particular asset pairs. You can understand how decentralized exchange works with an order book model by identifying the meaning of buy orders and sell orders. Buy orders generally imply that a specific trader wants to purchase or bid for a particular asset at a given price. On the other hand, sell orders imply that a trader is willing to sell a specific asset at a particular price. 

In the case of order book DEXs, the difference between buy orders and sell orders helps in evaluating the depth of their order book. The depth of the order book also helps in determining the market price of specific assets on the exchange. Interestingly, you can discover another interesting highlight about order book DEXs while finding out answers for “How does a DEX work?” with the fact that there are two types of order book DEXs. 

The two types of order book DEXs are on-chain order books and off-chain order books. Generally, the order book DEXs ensure on-chain storage of information about open orders and put the user’s funds in their wallets only. Such exchanges could help traders in using the funds borrowed from lenders with improved potential for trade. On the contrary, off-chain order books store the order books off the blockchain. These exchanges facilitate trades on blockchain by reducing costs and improving speeds. 

Uniswap - DEX decentralized exchange and UNI token for DEFI

https://cointelegraph.com/news/uniswap-v3-hopes-to-reinvent-its-dex-others-see-a-different-path-for-defi

1. Uniswap is a true DAO DEX with funds generated by either protocol fees or uni token sales

How uniswap makes money from protocol fees and tokens for investors who stake pools

https://productmint.com/uniswap-business-model-how-does-uniswap-make-money/

uniswap-productmint.com-The Uniswap Business Model How Does Uniswap Make Money.pdf

This protocol incentives marketplace participants to become liquidity providers themselves. They use their own money and create a fund that is used to facilitate the trades taking place on Uniswap.

Every token that is listed on the platform, therefore, has its own liquidity pool that participants can contribute to. The price of said token is determined using a constant equation x*y=k, in which k is a constant value (that doesn’t change) and x as well as y are the numbers of tokens in the pool.

Let’s assume Peter wants to trade Dogecoin (DOGE) for ether (ETH) using Uniswap’s DOGE/ETH pool. He then adds a large amount of DOGE to the pool which increases the ratio between DOGE and ETH. Since k must remain constant, it means that the cost of ETH goes up while the price of DOGE declines.

However, the size of the liquidity pool, as well as the proportionality of that trade, will ultimately determine how much the price of a given token will change. If your trade only makes up a small fraction of the pool’s size, then prices will likely remain unaffected.

In exchange for providing liquidity, marketplace participants will get a “pool token” that represents their staked contribution to the pool. For instance, if the participant provided $2,000 of the $10,000 a pool holds, then he or she would receive a token for 20 percent of that pool. This token can then be redeemed for a share of the trading fees that Uniswap charges.

Apart from its decentralized exchange, Uniswap has also introduced its very own token called UNI, which is used as a governance token. That means owners of the token can, for example, vote on new developments and changes to the platform. The more tokens a user owns, the greater his or her voting power.

Whenever a liquidity pool is created, protocol fees are set to zero by default. Uniswap then receives a fraction of the fees, which on V3 are equal to either 0.05%, 0.30%, or 1%.

Kaleido - Healthcare Blockchain services - Firefly enterprise blockchain services

https://www.kaleido.io/hyperledger-firefly

Build and operate complex data flows with the best of both off-chain and on-chain interactions across a business network of enterprises.

Enterprise Friendly Open Source
Apache 2.0 license governed by the Linux Foundation’s Hyperledger community.

Send data off-chain with simple flags on what events should be pinned to the blockchain

Built in Network Map and credential registry to simplify member management.

Send data off-chain with simple flags on what events should be pinned to the blockchain

Messaging, events, document transfer, transactions, and tokens

Hyperledger Cacti: Blockchain Interoperability

https://github.com/hyperledger/cactus

https://github.com/hyperledger/cactus/blob/main/whitepaper/whitepaper.md

There are two inherent problems^a that have to be solved when connecting different blockchains:

• How to provide a proof of the networkwide^b ledger state of a connected blockchain from the outside?
• How can other entities verify a given proof of the state of a connected blockchain from the outside?

The Cactus consortium operates for each connected blockchain a group of validator nodes, which as a group provides the proofs of the state of the connected ledger. The group of validator nodes runs a consensus algorithm to agree on the state of the underlying blockchain. Since a proof of the state of the blockchain is produced and signed by several validator nodes^c with respect to the rules of the consensus algorithm, the state of the underlying blockchain is evaluated networkwide.

Hyperledger YUI: Blockchain Interoperability - Fabric, Besu, Corda using IBC protocol

https://labs.hyperledger.org/labs/yui.html

YUI is a lab to achieve interoperability between multiple heterogeneous ledgers. YUI provides modules and middleware for cross-chain communication as well as modules and tools for cross-chain application development, including an explorer to track status and events for cross-chain environments.

For cross-chain communication, the design of YUI is based on Inter Blockchain Communication (IBC) protocol by Cosmos project, with extensions to support various Hyperledger projects.

Modules for cross-chain application development includes one that implements a protocol for atomic operations between ledgers, such as atomic swap of tokens.

Compare Ethereum Fabric Corda

ParallelChain – Tokenomics Whitepaper for BigChainDB

https://www.bigchaindb.com/

With high throughput, low latency, powerful query functionality, decentralized control, immutable data storage and built-in asset support, BigchainDB is like a database with blockchain characteristics

ParallelChain – Tokenomics Whitepaper

ParallelChain – Tokenomics Whitepaper.pdf

ParallelChain is a new layer 1 protocol based on a delegated proof of stake (DPoS) consensus mechanism (ParallelBFT) that employs an innovative, multi-class validator design. This approach delivers substantive performance benefits including greater throughput and faster completion times, while saving attractive censorship-resistance characteristics that are lost in other more centralised designs. ParallelChain’s tokenomics have been developed to motivate sustained, high-quality validator performance within this unique, multi-class consensus design. Good validator actions earn rewards that are funded with the collection of end-user transaction fees, and new token issuance.

Our transaction fee mechanism is closely modeled on that adopted by Ethereum for its recent “London Fork” upgrade. We make a modest adjustment to the design to secure a stronger economic link between validator rewards claimed, and end-user value created. • Our token issuance mechanism follows a fixed, declining rate schedule. This approach creates supply certainty; lowers inflationary pressure over time; and sets the native XPLL token upon a clear, predetermined transition path to use-driven fundamentals at network maturity. Validator rewards funded by these two processes are distributed according to a cap and margin model. The reward caps have been designed to create decentralising actions that counter concentration of stake between nodes of the same class. Additional incentive support has also been created at the class-level, to keep stake balanced between each validator class, as a whole

Algorand: A financial DLT platform

https://www.algorand.com/

Algorand created the Pure Proof-of-Stake foundational blockchain technology, designed for the future of finance. Beyond the elementary requirement of an open, public network, Algorand’s technology enables a set of high performing Layer-1 blockchains that provide security, scalability, complete transaction finality, built in privacy, Co-Chains, and advanced smart contracts that are essential in a FutureFi world.
Our continuing technical innovation and development is focused on:

• Interoperability
• Private and Public Models
• Performance and Scale
• Layer-2 Smart Contracts

Ledger Consensus 

Algorand uses cryptographic sortition to select users to propose blocks for a given round. When a block is proposed to the blockchain, a committee of voters is selected to vote on the block proposal. If a super majority of the votes are from honest participants, the block can be certified.

• Block Proposal: Accounts propose new blocks to the network
• Soft Vote: Committee votes on proposals and filters down to one
• Certify Vote: Separate committee votes to certify the block
• Each node receives a certificate for the block and writes it to the ledger
• New round is initiated and process starts over with new block proposers and voters

https://www.algorand.com/technology

Smart Contracts Limited to Python or Reach

Algorand’s Smart Contracts are trustless programs that execute on-chain, where users can be confident that the program was executed without error and the results were not tampered with. They are integrated into Algorand’s Layer-1, inheriting the same powerful speed, scale, finality, and security as the Algorand platform itself, and are error-free.  Smart Contracts are written in a language called Transaction Execution Approval Language (TEAL) as well as in Python using the PyTeal library, a python language binding.

• Smart Signatures contain logic that is used to sign transactions, primarily for signature delegation. The logic of the smart signature is submitted with the transaction.
• Scalable, Fast & Secure execution that is not currently possible on legacy platforms. ASC1s operate at over 1,000TPS and are final in under 5 seconds on a platform to blockchain
• Low cost to execute with transactions that have the same fee as any other transaction on the Algorand blockchain at .001 Algos

Management of PKI keys

Public Address and Private Spending Key combos are used to protect accounts. Public Addresses are publicly known and used for identification of an account, where Private Spending Keys are for security purposes and used for authentication and encryption of the Public Address required to be able to send transactions from that account. Today, the Public Address and Private Spending Key combo can not be broken - they always come in distinct pairs.

Algorand Rekeying in Layer-1 solves these operational inefficiencies by allowing users to change their Private Spending key without the need to change their Public Address. Rekeying enables more flexibility, continuity, and less overhead with any changes of the Private Spending key. This is achieved by having:

• Flexibility in their ability to change the Private Spending Key anytime without needing to change the Public Address
• Continuity that provides the ability to continue using one's Public Address and keeping the assets in the same Public Address
• Operational Efficiency to maintain existing Public Address as identifiers for other people and custody providers that continuously transact with that Public Address, lowering operational burdens

https://developer.algorand.org/

Algorand issues

limited languages

only one wallet supported - 

can external CAs, Membership services providers, wallets be used?

not as fast as other blockchains

CodeB - Blockchain w API interfaces

https://www.linkedin.com/company/codeb/

for history vs decentralized processing model

CodeB is an API first reference system for building Cross-Carrier and Cross-Industry Blockchain Networks that are deployed for the global telecommunications industry. Our reference system was designed to transform the industry by enabling new use-cases that provide valuable services to global subscribers. Our blockchain offers features for: • Blockchain integrated SMS SMPP Server and Gateway including an A2P SMS realtime settlement solution. • A blockchain-based DID Self-Sovereign Identity Solution for authentication, authorization and to access blockchain identities and security properties. • Immutable fillable eforms • eID compliance and Self-Sovereign Identity • Settlements – a solution to enable enterprises and operators to use stable coin payments. For example with our VallettaCoin®. • Antifraud • Reference Wallets for key hosting inside the Wallet or for server based key hosting

Potential Value Opportunities

Potential Challenges

Candidate Solutions

Step-by-step guide for Example

sample code block

Recommended Next Steps

Related articles