Hyperledger vs Quorum vs Corda - Which is correct for your business?
In our primitive blogs, we learnt about the basics of Blockchain Technology, what are public and private blockchains. We understood the nitty gritties of public blockchains like Bitcoin, Ethereum as well as private blockchains Hyperledger Fabric & Hyperledger Fabric 2, the private blockchains of the Hyperledger family. While each blockchain has its own features and advantages, not everything can be applied and implemented for a particular project or business. Every business has its own set of requirements, the challenges or problems vary from business to business and a lot of other factors like budget, infrastructure, resources, time etc have to be taken into account while choosing the right technology for a business project.
In the case of Blockchain, a business, depending upon its nature and functionality may require to choose either a public, a private or a hybrid blockchain. While one of our previous blogs explained the difference between Bitcoin and Ethereum, the public blockchains; this blog will shed more light on the difference between Hyperledger vs Quorum vs Corda - the private blockchains. Between, check below Hyperledger vs Quorum vs Corda activity protocols over the years.
Hyperledger vs Quorum vs Corda - Node permissioning
Hyperledger, Quorum and Corda all are private, permissioned blockchains which means that participation in the network is restricted and not anyone can be part of the blockchain. A governing entity (typically a set of participants) allows the entry of participants in the blockchain and also decides the permissions of the other nodes/peers.
So in Hyperledger, the governing peers allow and provide permission to other nodes for any sort of transaction. This type of access control can be done on node, channel or even consortium levels. Read more about Hyperledger node permissions in this article.
Corda has file based configurations to access nodes and their permissions. Contrary to other blockchains, in Corda, data is shared only on a need-to-know basis instead of global broadcasts. Learn how nodes interact with others in Corda in this article.
Whereas in Quorum, node permissioning is specified in smart contracts. In technical words, a json file containing a permission flag is maintained for it. Read more about node permissioning in Quorum.
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Hyperledger vs Quorum vs Corda - Consensus Algorithm
In the case of Hyperledger, rather than the sequential execution of transactions, multiple transactions can be executed simultaneously that enhances the performance of the system. For transactions to be executed and affirmed, Hyperledger follows the KAFKA and the RAFT algorithms to arrive at a consensus.
Corda was designed to specially serve banks and financial institutions and overcome challenges faced by this particular field. Hence, Corda coined the “Notaries” concept wherein the notaries validate the transactions and add blocks to the chain. Go through this documentation to know about Corda Notaries.
Quorum uses a protocol called the QuorumChain to reach consensus. A simple voting process that confirms transactions using majority coupled with BFT and RAFT algorithms are used by this blockchain.
Hyperledger vs Quorum vs Corda - Smart Contract Logic
Hyperledger uses the Chaincode as its business logic. Chaincode can be written in any standard programming language like Node.js, Go, and Java.
As said above, Corda was developed for banks and financial institutes which emphasizes the need of a legal agreement between participants. Thus, Corda implements smart contracts coupled with Ricardian contracts to obtain validity and security. For Corda, the smart contract can be written using Java or Kotlin programming languages.
Quorum supports both public and private contracts which are written in Solidity programming language.
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Hyperledger vs Quorum vs Corda - Currency/Tokens
Hyperledger facilitates the creation of native currencies as well as digital tokens using the FabToken management system.
Corda offers an SDK that allows the development of native tokens, issuance and trading of the tokens.
The JPM coin is the digital currency of the Quorum Blockchain.
Hyperledger vs Quorum vs Corda - Conclusion
Enterprise blockchains are hugely popular and are much in demand for their scalable and adaptable characteristics. Hyperledger, Corda and Quorum all offer privacy, robust mechanism, scalability and enhance the blockchain performance. While Corda and Quorum have simple architecture, Hyperledger is more modular. Hence, it is upto organizations to decide which blockchain is more suitable and can be altered to their business needs.
About Blockchain Simplified
Blockchain Simplified is a Top blockchain development company in Pune - India which works on all major Blockchain requirements. We specialise in Blockchain, Web and Mobile development (One Stop Shop for all technology development needs).
Our clientele includes Multiple Funded Start - Ups, SMBs and few MNCs few of which are NASDAQ and NSE listed.
Some of our work includes,
Blockchain based-
hubrisone.com - is a Live app with 100,000+ downloads, All-in-One Cryptocurrency current account. The entire development from scratch carried out by Blockchain Simplified.
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Well funded Blockchain startup - Blockchain Simplified helped a $6m funded American Blockchain startup to build the first blockchain protocol to leverage on-chain smart contracts to manage distributed storage of application data off-chain.
Multinational Bank - The company helped one of the top 3 ranking Multinational Banks to integrate various cryptocurrencies into their banking application.
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Non-Blockchain-
SHC - Built entire platform and app from scratch for a $1m funded startup led by a team of Americans including PhD degree holders.
VMW - Developed app for a multi-national company providing mass factory-to-factory shipment services. App is being used by 53 of the Fortune 500 companies such as John Deere, Coca-Cola, Nissan.
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Expertise
Blockchain Development : Bitcoin, Ethereum, Hyperledger, Corda, and more.
Mobile App Development : Android Native, iOS Native, React Native, Flutter, Xamarin.
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Web App Development : Node.JS, Angular, React.JS, PHP.
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