What should you use: Public or private blockchains? It depends on your use case
Hyperledger Global Forum is behind us but now’s the perfect time for an overview of the most important announcements, plans, and takeaways. Stay tuned for an interview with Brian Behlendorf, the Executive Director of Hyperledger!
Hyperledger Fabric has caught the attention of all major cloud providers, Brian Behlendorf, Executive Director of Hyperledger announced in his opening keynote at last week’s Hyperledger Global Forum in Basel, Switzerland. What does this say about the maturity of Hyperledger projects? Plenty!
Plans for 2019
For starters, Brian announced that a lot more professionalization will happen in 2019 in the form of certifications. Hyperledger partnered with The Linux Foundation to create two blockchain professional certification programs: Certified Hyperledger Sawtooth Administrator available December 2018 and Certified Hyperledger Fabric Administrator available in January 2019.
The Certified Hyperledger Fabric Administrator (CHFA) will be able to install, configure, operate, manage, and troubleshoot the nodes on a secure commercial Hyperledger Fabric network. The Certified Hyperledger Sawtooth Administrator (CHSA) will be able to effectively build a secure Hyperledger Sawtooth network for commercial deployment, including the ability to install, configure, operate, manage, and troubleshoot the nodes on that network.
Given the fact that the demand for blockchain skills exceeds the supply, we’re excited to see how these certifications can bridge the demand gap.
Furthermore, in the blockchain world, every developer knows about Hyperledger but there’s a whole world of devs out there. Therefore, Hyperledger’s New Year’s resolutions list contains more outreach to developers beyond the blockchain world, plus better metrics to ensure the projects’ success.
Alexis Gauba, Co-Founder at Mechanism Labs explained that even though blockchain’s popularity has gone from strength to strength, these systems are currently limited in their ability to support robust, large-scale applications due to scalability and security challenges. The answer to this problem is simple: the consensus layer. Even though Bitcoin’s proof of work is the most common today, it has a few disadvantages, including the fact that it:
- is wasteful of energy (since it uses a lot of computational power)
- slows down the process of consensus
David Treat, Managing Director at Accenture believes that DLT is now ready for the next phase of the journey to production. In his keynote at the Hyperledger Global Forum, David emphasized the differences between technology and business production readiness. A technology can only be ready for prime time if it’s functional, scalable and maintainable but the business demands are different; the same technology needs to be valuable, transformed, symbiotic and governed in order to meet the demands.
But what’s the winning DLT? According to some blockchain experts who presented at the conference, it’s too early to tell.
Public or private blockchains? It depends on your use case.
- Users won’t know they are using blockchain and that’s not really needed. This is called masked adoption because it’s there even if you don’t know that.
- Diversity (of projects) is a strength.
- If you’re not sure you need the blockchain technology, you should wait.
- If you don’t have a clear use case for blockchain, you should wait.
- If you’re a big organization that wants to experiment with blockchain, you should wait.
- What should you use: Public or private blockchains? It depends on your use case.