Blockchain

Blockchain, by nature, requires diverse ecosystems to mutually avail its benefits. Currently, Blockchain, which is being adopted in the financial sector, will find more success in the other sectors such as airlines, hospitality, manufacturing, wholesale trade, utilities and government organizations. These sectors have moved projects into MVP and are more eager to use Blockchain compared to the financial sector.

Since these use cases do not require large initial ecosystems of competitors or the creation of new business models, and yet do resolve current pain points in business processes, they can be simpler to execute. The Distributed Ledger technology (DLT) use-cases succeeds fast where it is a net new solution.

Mindtree has observed that many corporates and clients prefer to maintain their own networks. It is therefore recommended for businesses to focus on private Blockchain frameworks and partner with major Blockchain platforms like Hyperledger and R3, and with cloud platforms, such as AWS and Azure. For quicker turn-around and as faster ‘go-to-market’ strategy for clients, it’s preferable to partner with start-ups in the Blockchain space.

To quickly create a business prototype which is a frequent need, it is necessary to have a framework that can bootstrap a containerized Blockchain environment (on-premises or cloud) using Infrastructure as Code integrated with CI/CD tools. The scripts should also be able to manage an existing network to facilitate the addition/ removal of nodes, revocation of certificates, among others.

We have also observed that it is challenging to manage identities of individuals that are stored in various locations. Individuals and organizations are often not in control over their identity. Personal information, which is sensitive data and the main source for hackers, is often shared without much caution and awareness of the risks involved. Hackers correlate this data and create a data-vulnerable incident. Hence, there is an opportunity for a secure encrypted digital hub where individuals can store their identity credentials and have controlled access to it. Blockchain technology is a catalyst for rebooting the web of trust vision by providing an infrastructure of identity attestations that is publicly accessible, known as self-sovereign identity (SSI) based out of decentralized IDs (DID).

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Hyperledger Fabric 2.2 LTS

Hyperledger Fabric is a foundation for developing applications or solutions with a Blockchain-based modular architecture. Hyperledger Fabric allows components, such as consensus and membership services, to be used in plug-and-play mode. The modular and versatile design of Hyperledger Fabric satisfies a broad range of industry use cases. It offers a unique approach to channel services and ordering services that enables to enhance performance at scale while also preserving privacy.

Hyperledger Indy, Aries & Ursa

Hyperledger Indy was Hyperledger’s first ‘identity-focused’ Blockchain framework. Indy includes verifiable credentials based on zero-knowledge proof (ZKP) technology, decentralized identifiers, a software development kit (SDK) for building agents and implementation of a public, permissioned distributed ledger. Ursa enables experts to collaborate, build and package cryptographic primitives—combinations of low-level cryptography elements that only experts should build, test and make available to ‘ordinary developers.’ Ursa packages the primitives in a way that can be consumed by Indy, Aries and any other software that needs a solid, vetted cryptographic base. The indy-sdk repository is the Indy software that enables building components (called agents) that can interact with an Indy ledger and with each other.

R3 Corda 4.8 LTS Release

R3 Corda is a framework primarily used by the capital markets, banking (including CBDC, payments), insurance and financial institutions to explore various use cases in Blockchain. The latest version has features like confidential computing, electronic bill of lading (EBL), business network membership, database schema harmonization, bank in a box, accounts, corda settler (for instant settlement and deferred settlement), and so on. Confidential identities and security enhancements are required for any enterprise use cases.

Dev-Ops Framework for Blockchain

Enterprises are churning out different Blockchain frameworks for their requirements. The Dev-Ops framework with its available process and plugins will enable developers and stakeholders for quick turn-around in production.

IPFS

The Inter Planetary File System (IPFS) is a distributed system for storing and accessing files, websites, applications, and data. The IPFS is a peer-to-peer distributed file system that seeks to connect all computing devices with the same system of files. IPFS uses content-addressing to uniquely identify each file in a global namespace connecting all computing devices.

Enterprise Ethereum Alliance (EEA)

EEA is a member-driven standard organization that provides a decentralized ecosystem, which is an open-source, public, Blockchain-based distributed computing platform and operating system, featuring the smart contract (scripting) functionality. It supports a modified version of Nakamoto consensus via transaction-based state transitions.

DAML

With DARPA Agent Markup language (DAML), you can build full-stack, distributed applications for distributor ledger technology (DLT), Blockchain or databases in a single day. You can describe the behavior of your application in an easy-to-read and write smart contract language, and let DAML take care of infrastructure and integrations. It provides high levels of abstraction, clean APIs, and developer-tooling capabilities. DAML enables easy modelling of complex data schemas for your application with a domain-driven design.

Hyperledger Besu

Hyperledger Besu is an open-source Ethereum client developed under the Apache 2.0 license and written in Java. It runs on the Ethereum public network, private networks, and test networks such as Rinkeby, Ropsten, and Görli. Besu implements proof of work (Ethash) and proof of authority (IBFT 2.0 and Clique) consensus mechanisms. You can use Besu to develop enterprise applications requiring secure, high-performance transaction processing in a private network. Besu supports enterprise features including privacy and permissioning.

Hybrid Blockchain

Hybrid Blockchain, by design, is a combination of different characteristics of public and private blockchains. It determines what information stays private and what information is made public, and any system can make use of both the approaches.

Blockchain on AWS

Amazon web services (AWS) provide a fully managed, scalable blockchain service. AWS blockchain service makes it easy to set up, deploy, and manage scalable blockchain networks, eliminating the need for you to rely on expensive consulting implementations.

Quantum Computing – Impact on Blockchain

In Quantum computing, data analysis is handled using quantum-mechanical components capable of computing complex mathematical equations at record speed. It is capable of compromising the concepts of public key cryptography, which is the foundation of Blockchain, also a threat to Blockchain technology.

Oracle Blockchain Platform Cloud Service

Oracle Blockchain Platform gives you a pre-assembled platform for building and running smart contracts and maintaining a tamper-proof distributed ledger. It is a network consisting of validating nodes (peers) that update the ledger and respond to queries by executing smart contract code—business logic that runs on Blockchain. External applications invoke transactions or run queries through client SDKs or REST API calls, which prompts selected peers to run the smart contracts.

IOTA Qubic

IOTA is the first open-source non-permission-based distributed ledger technology. The Tangle data structure overcomes the inefficiencies of current Blockchain designs and introduces a new way of reaching the consensus in a decentralized peer-to-peer system. Qubic is fundamentally different from traditional smart contract layers because the contract is not subject to global consensus and need not be validated by the entire network, but instead will only be processed by dynamically sized node clusters (called ‘assemblies’). This enables scalability and is the most important requirement for tokenized smart contracts (TSC).

Hedera Hashgraph

Hashgraph is a distributed ledger technology envisaged on an asynchronous byzantine fault tolerance (aBFT) consensus algorithm amalgamated with the concept of gossip protocol, capable of securing the platform against attacks. Hedera Hashgraph is a publicly distributed ledger based on the Hashgraph algorithm that uses a directed acyclic graph (DAG) for time-sequencing.

EOSIO Blockchain Framework

The EOSIO is a Blockchain platform designed to enable both vertical and horizontal scaling of decentralized applications. It can be used to launch both public and private Blockchain networks. It has the potential to scale to millions of transactions per second, eliminates user fees, and allows for quick and easy deployment of decentralized applications. The EOSIO framework can be used in various sectors, including social media, finance, healthcare, government, and supply chain