Is there a way for your business to deal with the increasing use of distributed ledger technologies? Why sure, your business can adopt new technologies!

Modern distributed ledgers are powerful enough to change the payments landscape, improve the efficiency of large, midsize and small businesses, and open them to potential entrants.

In this paper, we give you a brief overview of the well-known distributed ledger technologies (DLT) — Ethereum, Hyperledger Fabric, R3 Corda and Ethereum. The point is to give you a hand with choosing a platform that can meet the essential needs of your company. So let's get started with every technology nuts and bolts.

Benefits Ethereum vs Hyperledger vs Corda

According to white papers of Ethereum, Hyperledger Fabric and R3 Corda, their developers have quite different views on frameworks' practical use. Now, let's see...

- R3 Corda. An open-source virtual ledger created to meet requirements applying to financial industry. It's capable to deal with the most complex transactions and restricts access to vital financial data. As a result, Corda attracts interest from various finance-related industries such as healthcare, insurance, banking and governments. It's worth noting that R3 Corda uses the advantage of many blockchain features. However, it can be hardly considered a true blockchain. The main goal of Corda is to ensure network owners their services are compatible between all network participants.

- Hyperledger Fabric. A specific blockchain infrastructure designed to provide a modular architecture between the infrastructure nodes, execute smart contracts ("Chaincode" in Fabric), etc. In other words, Hyperledger makes it possible to create apps with a modular architecture and use components like consensus, and membership services in a plug-and-play fashion. A Fabric network deals with "peer nodes" that execute Chaincode, access ledger data, endorse transactions and interface with apps. The technology is aimed at integration projects using DLT. Supporting Go, Java and JavaScript, Hyperledger Fabric is more flexible in comparison with its counterparts.

- Ethereum. Perhaps, the most important thing about ETH is that it's not just a cryptocurrency. In a broad sense, it's a virtual platform with many features using blockchain technology. Ethereum features smart contracts, the Ethereum Virtual Machine (EVM) and has its very own currency: ETH.

ETH relies on blockchain for contract negotiation and facilitation. Such an approach provides a decentralized way to verify and enforce contracts. As a result, both fraud and censorship are hardly possible. Ethereum’s smart contracts are designed to provide pretty high-security level in comparison with traditional ones.

Defference Ethereum vs Hyperledger vs Corda

It looks like it's time to compare the aforementioned blockchain-based solutions. As for Fabric and Corda, they were developed for concrete use. Corda is cut out for the financial services industry.

Hyperledger Fabric platform provides a modular architecture in blockchain to a wide range of various industries that care seriously about their supply chains (banking, healthcare, etc.).

Solutions offered by Ethereum can be applied in many spheres, as well. Still, in contrast to Fabric, it is not modularity that stands out but the provision of a generic platform for all kinds of transactions and applications.

Source data micobo

Network peers participation

When it comes to a traditional (centralized) network or data storage, there's only one entity that keeps a copy of the database. Usually it's known as a database keeper/owner. As a result, the owner controls what data is contributed and what other users are permitted to contribute.

DLT change the picture completely in favor of a distributed data storage where multiple entities hold lots of database copies and have permissions to contribute. All users participating in the distributed data storage build a network of nodes/peers.