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I wonder why they'd opt for Ethereum (which incorporates proof-of-work) instead of using something like Hyperledger Fabric. I mean the banks all know each other
by bathory 10y ago
I wonder why they'd opt for Ethereum (which incorporates proof-of-work) instead of using something like Hyperledger Fabric. I mean the banks all know each other already, so they might as well just use a permissioned blockchain, instead of a permissionless.
Big banks like UBS are also on the Hyperledger train [0].
[0] - https://www.hyperledger.org/news/2016/09/29/ubs-to-build-blockchain-based-trade-finance-system https://www.hyperledger.org/news/2016/09/29/ubs-to-build-blo...
- DennisP 10y agoThere are some forks of Ethereum that use the same virtual machine but different consensus mechanisms like Byzantine Paxos. I don't have links handy but maybe that's what their actually talking about, since they say it's a private Ethereum-based chain.
- brighton36 10y agoHyperledger's core value proposition is that you can find efficiencies in your business by putting your transactions into folders, and sending them to your competitors. This isn't a very well thought out project.
- patrickk 10y agoIt's worth noting that the Etherum project will switch over to proof of stake at some point in the future, possibly within the next two years.
- brighton36 10y agoAnd you can count on it forking shortly thereafter. Just like: NXT, Ripple, Stellar, Peercoin, and all other PoS chains before it