Corda vs Hyperledger vs Ethereum

Corda vs Hyperledger vs Ethereum

Blockchain is currently going through a great transformation. The innovation is done on how to approach the idea of blockchain, rather than sticking with just one idea. Bitcoin used one way of solving the decentralized approach, and from there, you will find many diverse solutions out there. Here, we are talking about Hyperledger, Corda, and Ethereum. Hyperledger and Corda are well-known frameworks that provide their own way to solve decentralized approach. Ethereum is yet another popular blockchain that solves many issues with the first-generation blockchain solution.

In this article, we will explore how these three popular frameworks stack together. At the core, all three tries to solve the distributed ledger approach.

Let’s get started..

To get a glimpse of what each of the platforms has to offer, let’s quickly go through each one of them individually and then compare them based on some metrics.

What is Ethereum?

The key benefits offered by Ethereum include:

  • Tamper proof
  • Immutability
  • Zero downtime
  • Security

What is Hyperledeger?

Hyperledger aims to integrate different standards and open protocols that let you create a native cryptocurrency as well. However, it is not like Ethereum and hence doesn’t have its own cryptocurrency. Infact, Hyperledger has rightly denied that they will ever have any crypto for their solution.

What is Corda?

Corda has some familiarity with Ethereum as it lets businesses create CorDapps. Corda’s most impactful sector is the financial sector where many organizations are using it to create their solution.

Some of the core Corda key features include:

  • Prevent unnecessary sharing of data
  • Archive consensus at the individual level
  • No central controller required for data sharing
  • Utilizes industry-standard tools
  • It has no native cryptocurrency embedded within the system.

Key differences between Ethereum, Corda, and Hyperledger

Corda vs Hyperledger vs Ethereum
Corda vs Hyperledger vs Ethereum
Image Credit — https://101blockchains.com/hyperledger-vs-corda-r3-vs-ethereum/

Now that we have got a good idea about all three of Ethereum, Corda, and Hyperledger, it is now time to check out how they differ in our comparison of Ethereum, Corda, and Hyperledger.

To truly understand each one of them, let’s go through the below points of comparison.

Platform description

Consensus

Hyperledger ecosystem has different components that have different consensus approach. It allows a broad range of consensus algorithm that is open to changes and interpretation.

Lastly, we have R3 Corda which uses its own specific approach to consensus algorithm, i.e., notary nodes which work at the transaction level.

Mode of operation

Governance

Smart Contracts

This leads us to the end of our Corda vs Ethereum vs Hyereldeger comparison.

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