Private blockchain

Abstract

In this chapter, we first characterize more organically the typical features of a private blockchain. Then, we discuss briefly how Ethereum can also function as a private blockchain when implemented among a restricted set of private nodes. We then present two frameworks to build commercial private blockchains that have seen substantial traction in the industry recently: Corda and Hyperledger Fabric. Corda is a framework that aims at applying some of the principles of Bitcoin, in particular the mechanism of UTXOs, to any generic fact describing the interaction between two or more business partners in a private network. Hyperledger Fabric is a more complete framework that also considers smart contracts in the context of private blockchains. As a case study, we briefly discuss the Spunta Banca project and IBM’s FoodTrust, two commercial applications developed using Corda and Hyperledger Fabric, respectively.