420
X. Liu et al.
data storage. Private transactions are used to provide data security and privacy.
However, Hyperledger Fabric does not support tokens.
Hyperledger Fabric supports smart contracts through chaincode. The operation
of Hyperledger Fabric depends on a number of central participants.
Overall, Hyperledger Fabric is suitable for use cases where data is to be
exchanged between a closed group of companies. It is not suitable for fully
distributed applications.
8.7.2 Ethereum
Ethereum is a truly decentralized DLT which can run as a public blockchain, private
blockchain, or consortium blockchain. Ethereum provides truly decentralized data
storage through its architectural design. Data in Ethereum is less secure and private
because it originally focused on the public chain. Tokenization is supported so that
real assets can be digitally represented. Companies can build digital business models
using Ethereum.
Smart contracts are seamlessly integrated into Ethereum and can be programmed
using its built-in programming language called Solidity. Smart contracts are executed in the Ethereum Virtual Machine (EVM). Distributed apps (DApps) can
be developed and run under the EVM. DApps can be deployed on Ethereum
without additional infrastructure. Data immutability is guaranteed by Ethereum’s
architecture.
8.7.3 IOTA
IOTA can be used as a data layer on top of IoT to facilitate transactions between
machines. The nodes in an IOTA network can both generate and confirm transactions. IOTA is a “feeless” DLT. Currently, IOTA is not truly decentralized because
it depends on central maintaining elements. Data security and privacy are achieved
via transaction validation, data encryption, and subscriber authorization. IOTA does
not support tokenization. IOTA does not support smart contracts as well. High speed
and high scalability are two main advantages of IOTA.
The transaction referencing structure in Tangle provides data immunity. In
theory, data can be traced back to the very first transaction(s) in Tangle, although
the snapshotting mechanism makes this impossible.
X. Liu et al.
data storage. Private transactions are used to provide data security and privacy.
However, Hyperledger Fabric does not support tokens.
Hyperledger Fabric supports smart contracts through chaincode. The operation
of Hyperledger Fabric depends on a number of central participants.
Overall, Hyperledger Fabric is suitable for use cases where data is to be
exchanged between a closed group of companies. It is not suitable for fully
distributed applications.
8.7.2 Ethereum
Ethereum is a truly decentralized DLT which can run as a public blockchain, private
blockchain, or consortium blockchain. Ethereum provides truly decentralized data
storage through its architectural design. Data in Ethereum is less secure and private
because it originally focused on the public chain. Tokenization is supported so that
real assets can be digitally represented. Companies can build digital business models
using Ethereum.
Smart contracts are seamlessly integrated into Ethereum and can be programmed
using its built-in programming language called Solidity. Smart contracts are executed in the Ethereum Virtual Machine (EVM). Distributed apps (DApps) can
be developed and run under the EVM. DApps can be deployed on Ethereum
without additional infrastructure. Data immutability is guaranteed by Ethereum’s
architecture.
8.7.3 IOTA
IOTA can be used as a data layer on top of IoT to facilitate transactions between
machines. The nodes in an IOTA network can both generate and confirm transactions. IOTA is a “feeless” DLT. Currently, IOTA is not truly decentralized because
it depends on central maintaining elements. Data security and privacy are achieved
via transaction validation, data encryption, and subscriber authorization. IOTA does
not support tokenization. IOTA does not support smart contracts as well. High speed
and high scalability are two main advantages of IOTA.
The transaction referencing structure in Tangle provides data immunity. In
theory, data can be traced back to the very first transaction(s) in Tangle, although
the snapshotting mechanism makes this impossible.