Ethereum, Hyperledger and CordaA Side-by-Side Comparison of Capabilities and Constraints for Developing Various Business Case Uses

Abstract

This chapter provides on an in-depth discussion of three currently popular blockchain frameworks, namely, Ethereum, Hyperledger and Corda. The Ethereum discussion section starts by presenting the various components of Ethereum, a public blockchain with its own cryptocurrency (Ether). Historically, Ethereum was the first blockchain framework to introduce the concept of smart contracts – a game-changer for blockchain technology. The characteristics and limitations of Ethereum smart contracts and consensus mechanism and a brief discussion of several Ethereum use cases in healthcare and supply chain management are also included in the first section of this chapter. In the second part of this chapter, several Hyperledger frameworks, such as Hyperledger Burrow, Fabric, Indy, Iroha and Sawtooth are discussed in order to enable readers to become better acquainted with these various private, permissioned Hyperledger ‘flavors’. Additionally, several Hyperledger-related tools are also introduced and discussed. These include Hyperledger Caliper, Composer, Cello, Explore and Quilt. The third part of this chapter focuses on the Corda framework, a popular blockchain framework in the banking and financial services industry. Corda’s various components are also introduced and discussed. This section also briefly discusses the characteristics of Corda smart contracts, consensus mechanism as well as several Corda use cases in healthcare, construction and finance. A brief discussion about user privacy in the Corda network and Corda’s limitations is also included in the third section of this chapter. Finally, the chapter concludes with a side-by-side comparison of these three frameworks in an easy-to-reference format, along with a decision tree that can be used as a first step to decide on adopting the most appropriate framework, depending on an organizational contemplated use case.