Podcast
Questions and Answers
In what year was Hyperledger established?
In what year was Hyperledger established?
- 2010
- 2015 (correct)
- 2005
- 2020
What is a key characteristic of Hyperledger's access control?
What is a key characteristic of Hyperledger's access control?
- Completely open
- Permissioned (correct)
- Public (unpermissioned)
- Anonymous
Which of the following is a major advantage of using blockchain for business?
Which of the following is a major advantage of using blockchain for business?
- Decentralized structure (correct)
- Full dependence on banks
- Single point of failure
- Centralized control
What is the term for automating contract execution in blockchain?
What is the term for automating contract execution in blockchain?
Which feature of blockchain enhances safety in recalls and fraud forensics?
Which feature of blockchain enhances safety in recalls and fraud forensics?
Flashcards
What is Hyperledger?
What is Hyperledger?
An open-source collaborative effort created to advance cross-industry blockchain technologies.
Major advantages of Blockchain for Business
Major advantages of Blockchain for Business
Safely share data, leverage digital assets, and automate contract execution.
Decentralization Benefit
Decentralization Benefit
No single point of failure, as the ledger is distributed across multiple participants.
Permissioned Blockchain
Permissioned Blockchain
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Traceability and Immutability
Traceability and Immutability
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Study Notes
- Blockchain is essential for business
- Hyperledger is a blockchain application
Hyperledger
- Hyperledger is an umbrella project that comprises 12 projects.
- It was established in 2015 to advance blockchain technology for enterprises.
- The project boasts 260 major enterprises.
- Hyperledger is an open-source and permissioned (Hyperledger Fabric) platform, with IBM as an initial investor.
- An alternative to Hyperledger is Ethereum Enterprise.
Major Advantages of Blockchain for Business
- Enables safe sharing of reliable data among businesses through secure transfers.
- Offers a decentralized system, eliminating single points of failure.
- Provides permissioned access, restricting entry to authorized parties.
- High resistance to hacking due to multiple nodes.
- Eliminates the need for banks by leveraging digital assets.
- Smart contracts automate contract execution.
- Disintermediation reduces waste by cutting down on the central role of intermediaries.
- Compatible with IoT applications.
Other Major Advantages
- Offers traceability and immutability, useful for safety recalls and fraud forensics.
- Allows consumer access for checking the ethical standards and quality of products.
- Protects user identities and IP while maintaining transparency.
- Creates innovation opportunities for new models and decentralized finance (DeFi) services.
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Description
Explore Hyperledger, a key blockchain application for enterprises, established in 2015 with over 260 major enterprises. Discover the advantages of blockchain for business, including secure data sharing, decentralized systems, and automated smart contracts.
