∼ What do we do? ∼ Kenji Saito Senior Researcher, Keio Research Institute at SFC, Keio University [email protected] What to do with Hyperledger – What do we do? – A BoF at WIDE Project Meeting – 2016-12-17 – p.1/34
SFC, Keio University (Murai Lab) CSO (Chief Science Officer), BlockchainHub Inc. Representative Director, Academy Camp Bio 1988∼1997 : Hitachi Solutions (“Hitachi Software” then) 1993 : Received M.Eng in Computer Science from Cornell University 2006 : Received Ph.D. in Media and Governance from Keio University Conducting research in P2P and digital currencies for over 16 years at Graduate School of Media and Governance, Keio Research Institute at SFC, etc., in Keio University Representing Academy Camp for children in Fukushima since 2011 ⇒ One and the same in my mind What to do with Hyperledger – What do we do? – A BoF at WIDE Project Meeting – 2016-12-17 – p.2/34
at Linux Foundation, in which a number of sub-projects are ongoing at their incubation stages, including ones originally contributed by IBM, Digital Asset Holdings, Intel and Soramitsu, to create some new distributed-ledger platforms that work like blockchains It is planned that a new contribution will be made by R3 consortium from the area of finance applications In this BoF, features of the designs of ongoing developments are introduced, and we will discuss what to do with Hyperledger What to do with Hyperledger – What do we do? – A BoF at WIDE Project Meeting – 2016-12-17 – p.3/34
2-2. Sawtooth Lake 2-3. Iroha 2-4. Corda (possibly) 3. What Do We Do? What to do with Hyperledger – What do we do? – A BoF at WIDE Project Meeting – 2016-12-17 – p.4/34
to which it can answer Because every technology is an answer to a specific question What to do with Hyperledger – What do we do? – A BoF at WIDE Project Meeting – 2016-12-17 – p.5/34
fixed in any defined (cyber)space? The promises can be viewed and verified by anyone in such space If you can provide a proof that you have a right to do so, you can have the promises automatically executed Distributed ledger answers how to fix what promises in what space What to do with Hyperledger – What do we do? – A BoF at WIDE Project Meeting – 2016-12-17 – p.6/34
Promises are necessarily placed in the air Because we do not fully trust one another, . . . and because of that, we need promises anyways We have been doing that in an incomplete and paper-based manner e.g. Contracts, bankbooks, . . . (we make copies) Any data that can be updated is a promise anyways Any data with proof of origin is also a promise What to do with Hyperledger – What do we do? – A BoF at WIDE Project Meeting – 2016-12-17 – p.7/34
collects transaction data from past around 10 minutes, puts them in a block, and participates in a lottery 2. If they win, they broadcast the block 3. Each miner, if they admit that the received block is the final block in the chain, goes back to 1 to continue What to do with Hyperledger – What do we do? – A BoF at WIDE Project Meeting – 2016-12-17 – p.8/34
a “promise-fixation device in the air” to (try to) manifest the End-to-End philosophy of the Internet in controlling digital assets What to do with Hyperledger – What do we do? – A BoF at WIDE Project Meeting – 2016-12-17 – p.9/34
technology 1. Validity (UTXO Structure) Ends have control and anyone can verify ⇒ Useful (no confidentiality though) 2. Proof of Existence (Hash-chained blocks) Basis of proof by ordering events ⇒ Not as robust as thought 3. Uniqueness (Nakamoto Consensus) Trial for finalization of transactions ⇒ Cannot synchronize with reality Solutions to these problems, and pursuit of applications assuming that those problems will be solved, must go side by side Both require more people to join What to do with Hyperledger – What do we do? – A BoF at WIDE Project Meeting – 2016-12-17 – p.10/34
access (without intermediaries), settlement in agreed real-time, business rules, control confidentiality Corporate Actions Real-time execution with controlled confidentiality of stock split, capital reduction, merger, equity transfer, etc. Supply Chains Track sourcing of raw materials, record and search all aspects of production, storage and sale Master Data Management Authorized parties can submit changes, and the designated validators accept those changes Sharing Economy and IoT (Internet of Things) Smart cities/towns, transportation, healthcare/fitness, retailing, construction, education, etc., while their stake holders do not always trust one another (implicitly real-time problems) Those features Bitcoin Blockchain is not good at are written in red Among the problems we want to solve, we see problems unsolved by the existing technology What to do with Hyperledger – What do we do? – A BoF at WIDE Project Meeting – 2016-12-17 – p.11/34
. Monetary transfer that bypasses banking networks Huge impact by itself Proof of Existence E.g. Proof of Existence (name of a service), Factom, Everledger, . . . Embed arbitrary digests in Bitcoin Blockchain Proof that they existed in their exact forms Within the intention of the original design (“newspaper” substitute) Name Service E.g. Namecoin Fix name-value pair in the air Only within the digital domain What to do with Hyperledger – What do we do? – A BoF at WIDE Project Meeting – 2016-12-17 – p.12/34
a system where nobody can stop me spending my own money?” ⇓ A lemma “How do we fix promises in the air?” ← Blockchain is an incomplete answer ⇑ Applicable to? “How do we provide proofs of existence?”← “OP_RETURN hack” Only within digital domain ⇒ We need new and right questions What to do with Hyperledger – What do we do? – A BoF at WIDE Project Meeting – 2016-12-17 – p.13/34
distributed ledger framework and code base, upon which users can build and run robust, industry-specific applications, platforms and hardware systems to support business transactions. create an open source, technical community to benefit the ecosystem of HLP solution providers and users, focused on blockchain and shared ledger use cases that will work across a variety of industry solutions; promote participation of leading members of the ecosystem, including developers, service and solution providers and end users; and host the infrastructure for HLP, establishing a neutral home for community infrastructure, meetings, events and collaborative discussions and providing structure around the business and technical governance of HLP. What to do with Hyperledger – What do we do? – A BoF at WIDE Project Meeting – 2016-12-17 – p.15/34
http://hyperledger-fabric.readthedocs.io/en/latest/ What to do with Hyperledger – What do we do? – A BoF at WIDE Project Meeting – 2016-12-17 – p.17/34
technology, leveraging familiar and proven technologies It is a modular architecture allowing pluggable implementations of various function It features powerful container technology to host any mainstream language for smart contracts development What to do with Hyperledger – What do we do? – A BoF at WIDE Project Meeting – 2016-12-17 – p.18/34
Nakamoto Consensus Consensus on results of chaincode executions Proof of Existence Hash chain Validity Structures on RocksDB, with light-weight CA What to do with Hyperledger – What do we do? – A BoF at WIDE Project Meeting – 2016-12-17 – p.20/34
deployments It includes a novel consensus algorithm, Proof of Elapsed Time (PoET) PoET targets large distributed validator populations with minimal resource consumption Transaction business logic is decoupled from the consensus layer into Transaction Families that allow for restricted or unfettered semantics What to do with Hyperledger – What do we do? – A BoF at WIDE Project Meeting – 2016-12-17 – p.22/34
(Hash chain with) PoET (hardware-support necessary) Validity ‘Transaction Families’ What to do with Hyperledger – What do we do? – A BoF at WIDE Project Meeting – 2016-12-17 – p.23/34
was designed to be simple and easy to incorporate into infrastructural projects requiring distributed ledger technology Iroha features: simple construction modern, domain-driven C++ design emphasis on mobile application development new, chain-based Byzantine fault tolerant consensus algorithm, called Sumeragi Whitepaper : https://github.com/hyperledger/iroha/blob/master/docs/iroha_whitepaper.md What to do with Hyperledger – What do we do? – A BoF at WIDE Project Meeting – 2016-12-17 – p.25/34
of Existence Merkle tree structure Validity Structures with embedded public keys What to do with Hyperledger – What do we do? – A BoF at WIDE Project Meeting – 2016-12-17 – p.26/34
among institutions Using industry-standard tools Interoperability, incremental deployment, confidentiality Corda’ question : “How do I create a system where what I see is what you see and we both know that we see the same thing and we both know that this is what has been reported to the regulator?” Starting with a different question from Bitcoin What to do with Hyperledger – What do we do? – A BoF at WIDE Project Meeting – 2016-12-17 – p.28/34
for various consensus mechanisms (But is it not a single mechanism that requires a complete agreement with counterparties and the audit?) (Mechanisms should be needed if redundant nodes work within a party) Data is NOT copied system-wide Transactions are validated by counterparties instead of third parties Uniqueness may be assured by third parties Confidentiality is naturally supported Design options according to CAP-Theorem trade-off Blockchain prioritizes availability over consistency Can prioritize consistency over availability Explicit audit node Binding between legal documents and smart contract code No native tokens What to do with Hyperledger – What do we do? – A BoF at WIDE Project Meeting – 2016-12-17 – p.29/34
Pluggable Proof of Existence (Probably assured by counterparties and audit) Validity UTXO with X.509 PKI What to do with Hyperledger – What do we do? – A BoF at WIDE Project Meeting – 2016-12-17 – p.30/34
the world with distributed ledger technology and accounting of everything What to do with Hyperledger – What do we do? – A BoF at WIDE Project Meeting – 2016-12-17 – p.32/34
of the Commons (e.g. i-WAT) Proof of Existence Signature graph of transactions (possibly with trusted timestamp providers) (e.g. Tangle / proposal by Prof. Iwamura) Validity UTXO with separation of identities and public keys (e.g. My proposal at the 1st FinTech Forum of Bank of Japan) Over distributed KVS, to make a public infrastructure Possibly with locality-based location and routing Possibly with tit-for-tat, without native tokens / currencies What to do with Hyperledger – What do we do? – A BoF at WIDE Project Meeting – 2016-12-17 – p.33/34
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