Iroha: Hyperledger Distributed Ledger Business Technology?

Iroha is an open source distributed ledger project. It is capable of storing all history of state changing actions or transactions by use of blockchain technology. The system is intended to be used in enterprise or between untrusted agents as a private chain platform. The difference between it and a public chain is that not everyone is allowed to store the whole history on Iroha. Its features include:

  • Simplicity: A simple architecture is easy to understand and develop
  • Digital asset: You can easily use the codes available on the platform to create digital assets
  • Mobile: The platform has an Android and an iOS app that will be used on the mobile phones enabling even people on the go to access the platform.

Its cryptographic capabilities and the Byzantine Fault Tolerant consensus algorithm provide the system reliability. A diverse group of clients including those with desktops and mobile phones will use the system. It is free, open source, and works on Mac OS and Linux together with a variety of mobile and desktop libraries.

The general purpose of this permissioned blockchain system is to used to manage digital assets, identify and serialize data. It can also be used for applications such as interbank settlement, payment systems, central bank digital currencies, national IDs, and logistics systems.

Iroha Difference With Other Ledgers and Hyper ledgers

Iroha is different from other permissionless ledgers such as Bitcoin and Ethereum since in reference to the former permissionless ledgers anyone can join and access the data. These permissionless ledgers also have native currencies that interact with them.

Iroha has no native currency and to meet the need of the users, system interaction is allowed. This means that only those that have requisite access will interact with the system. Further queries are also permissioned which means that access to all the data can be controlled.

Another difference is that hyperledger Iroha allows users to perform common functions such as creating and transferring digital assets using prebuilt digital commands in the system. This eliminates the need to write hard to test smart contracts. Developers are also able to complete simple tasks fast and at a lesser risk.

Compared to other hyperledger frameworks Iroha uses the Byzantine fault tolerant consensus algorithm that is of high performance and allows for transactions finality with low latency. The other hyperledger frameworks often focus on more probabilistic consensus algorithms such as Nakomoto consensus and sacrifice Byzantine fault tolerance.

The built-in commands on Iroha are also advantageous as they allow for users to simply do small tasks such as the creation of digital assets, transfer assets between accounts, and create accounts. Additionally, this hyperledger narrows the attack vector to ensure better security of the system.

Iroha is also the only ledger with a permission system. This allows permissions to be set for commands, queries, and for those who want to join the network.

Creating Applications With Iroha

To create applications on the Iroha platform, the system has a core concepts section that explains how users of the application are supposed to interact with Iroha peers.

The platform also has several client libraries that provide tools for developers to come up with building blocks such as commands, signatures, and how to send messages to Iroha peers and check the status of their applications.

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Bitcoin Exchange Guide News Team
B.E.G. Editorial Team is a gracious group of giving cryptocurrency advocates and blockchain believers who want to ensure we do our part in spreading digital currency awareness and adoption. We are a team of over forty individuals all working as a collective whole to produce around the clock daily news, reviews and insights regarding all major coin updates, token announcements and new releases. Make sure to read our editorial policies and follow us on Twitter, Join us in Telegram. Stay tuned. #bitcoin

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