HYPERLEDGER FABRIC VS ETHEREUM
Ethereum’s native currency (ETH) is known as the ETHEREUM COIN. Almost every participating node can mine by paying gas.
Because Ethereum is a public domain, it features a POW mechanism that slows down the process of transactions, which works up to almost about 20 transactions every second.
Because Ethereum is a Decentralised network, the blockchain uses a POW or consensus method. It helps the decentralised network’s member nodes to meet in the middle on things like account balances and transaction orders, preventing users from generating wrong transactions and then double-spending their coins.
Ethereum was the first to introduce the phenomenon of smart contracts. A Smart Contract is a computer programme defined in code that is triggered automatically when the particular criteria are satisfied. It keeps the transfer of digital assets between the contracting parties in check. It is unchangeable; once a condition is established, it cannot be changed by a third party.
Ethereum is a platform used for building business-to-consumer (B2C) and decentralised apps. It was majorly made to run smart contracts on the Ethereum Virtual Machine (EVM) and generate decentralised apps for broad use.
Ethereum is a public network with no asked permissions. Anyone with access to the internet can get the software and begin mining Ethereum.
Only Ethereum developers can have control over the Ethereum network. Ethereum’s principal developer and founder are Vitalik Buterin.
Ethereum is an open network. All of the transactions are completely transparent, and anyone with internet access can see them.
Hyperledger is a platform for building B2B and cross-industry applications. It encourages collaboration between organisations or industries and developers working with Distributed Ledger Technology (DLT). This can be used to construct blockchain apps with restricted access.
Hyperledger is a blockchain network with restricted permissions. This is where highly secure and private transactions happen. All existing transactions on the network can only be viewed by companies or individuals that have a Certificate of Authorization.
The Linux Foundation oversees the Hyperledger fabric. IBM is a major contributor to this framework as well. It is the result of these two companies’ extensive partnership, which proved to be a massive success.
Hyperledger strictly maintains tight control over who can join the network. The Hyperledger platform and its capabilities are only accessible to approved members, and they are chosen only by the authorised members. It keeps valuable and secret information hidden from outsiders and prevents them from using it for wrongful purposes.
Hyperledger fabric is just like smart contracts. It allows member organisations to run code (known as chain code) on peers to produce transactions based on a particular set of conditions.
Hyperledger does not require a POW or consensus process to validate a transaction because it is a private network. No third party can intervene in a transaction if two participants agree on a certain transaction. It improves the network’s transaction rates and its overall performance.