The blockchain has become a prominent solution since 2010, every business firm is trying to integrate it in the business world and experiencing its maximum potential use-cases solution. The blockchain can categories into two: public blockchain and private blockchain.
A public blockchain is widely used around the world, where it provides user identity anonymity. On the other hand, a private blockchain is entirely developed for enterprise use cases. The private and public blockchain adaption is all-around necessary for the business sector. Ethereum is the widely accepted public blockchain and Hyperledger is the widely accepted private blockchain.
Hypereledger:
Introduced by Linux foundation under the pseudonym Hyperledger umbrella project. It consists of many more organizational level project, which meets the solution for different use-cases experienced by an organization. The Hyperledger projects include well-known sub-projects like fabric, sawtooth, etc. The hyperledger fabric is considered as the extensively accepted private network which is particularly built for enterprise-level applications.
Advantages of hyper ledger fabric
- Particularly aims for a private enterprise-level business.
- Business partners can communicate with each other.
- They can peg an asset with value.
- Business owners can transfer anything which has a monetary value.
- All the transactions are recorded safely in the network.
- The transaction details will be available only to the network participating members.
- Private transaction facility is available inside the private network
Ethereum:
Ethereum is considered as a favorite public blockchain network in the field of blockchain space. Unlike a private network, which doesn't have any token transferring facility, ethereum provides full fetched token transferring facility via a smart contract system. Ethereum is powered by a fully decentralized end to end protocol where the end-user can access, anywhere from the world.
Advantages of ethereum:
- It provides a complete decentralized public network.
- Anyone can participate in the network.
- The identity of the user will be bound on a public/private key pairs.
- The user can participate in the network from anywhere in the world.
- It provides complete user-level privacy
Ethereum is a decentralized network, which means it is not controlled by any single entity and avoiding centralization makes the network more secure and every peer system will hold a copy of the data ledger. The main features of the ethereum network are each transaction is encrypted via cryptography. Each transaction uses ether(cryptocurrency of ethereum) as a fuel for the correct execution of the transaction. The public blockchain like ethereum is powered by a cryptocurrency that acts as a fueling agent in transaction execution.
Comparison:
| HYPERLEDGER | ETHEREUM |
| It is a private network | It can be a private/public network |
| Participants identity are open | Participants are anonymous |
| No in-built cryptocurrency | Ether is acted as fuelling cryptocurrency |
| Suitable for enterprise-level application | Suitable for open-world |
| Smart contract support | Smart contract support with the token |
| No public/private key pair | Interaction by public/private key pair |