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Security |
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No data encryption or channel partition and is public.
Merkle Patricia Trie Data structure
Data and contracts in Ethereum are encoded but not encrypted and all data is public - therefore all sensitive data should be encrypted locally and hash stored to prove authenticity.
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Transactions are confirmed and validated through validator nodes.
The more trusted validators in the network, the harder it will be to control and change the ledger as an outside attack.
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Data is only shared between parties involved in the transaction, verifiers, and permissioned observers. This allows an extra layer of security from traditional DLT where the data is spread throughout the network.
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Permissionless
Anyone can download the protocol and validate transactions making it less secure
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Permissioned
Anyone can become a validator, but will only be relevant if trusted.This provides public support for infrastructure, but keeps the transaction nature private when needed.
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Permissioned
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Limited (zk-SNARKs, Ring signatures)
Privacy in this public permissionless network has been limited. Since the Metropolis hard fork, it became possible to integrate more cryptographic operations in smart contracts - two kinds of technologies are implemented: zk-SNARKs and Ring Signatures.
‘Zero-knowledge’ proofs allow one party (the prover) to prove to another (the verifier) that a statement is true, without revealing any information beyond the validity of the statement itself.
Ring Signatures are a cryptographic technology first introduced in 2001. It enables any member of a group of users to perform a digital signature, that can be proven to be made by a member of this group, while it is impossible to determine by which member of the group.
https://btcmanager.com/good-news-privacy-bitcoin-ethereum/
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Transaction information on the ledger is public, but payment information is not.
This means that in the event of a security breach, no personal financial information can be compromised through this network.
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Privacy concerns are addressed through the pluggable uniqueness services, and restriction of viewing transactions.
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Algorithms |
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PoW & PoS
Proof of work (PoW) + PoS-based public blockchains in Ethereums upcoming Casper implementation. Opposed to the PoW consensus protocol, the PoS protocol achieves consensus through stakers, sometimes referred to as minters who “stake” their coins by locking them down in specialized wallets. With stakers at work, mining will become redundant, meaning the Ethereum network post-Casper will rely on stakers and staking pools instead of miners for its operability.
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Ripple Protocol Consensus Algorithm
70+ validators
Applied every few seconds by all nodes. Once consensus is reached, the current ledger is closed. Most recently closed ledger is known as the last closed ledger and is the basis of the distributed ledger.
For more information: https://vimeo.com/64405422
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Notaries - Pluggable Framework, Validity consensus and Uniqueness consensus
transaction validity and transaction uniqueness.
https://docs.corda.net/key-concepts-consensus.html
Corda uses special Notary Nodes to reach consensus. Notaries are nodes that specifically address double spend attempts.
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Efficiency |
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Moderate
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Fast
3-4 seconds : set to improve with future updates. See future planned work.
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Fast
Built for financial applications
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Block Confirmation Time
Details
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~12 blocks
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TBD
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TBD
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Development |
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Proprietary Codebase
Details
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Open Source
https://github.com/ethereum/
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Open source with proprietary applications
The Ripple protocol is open source: https://github.com/ripple . Proprietary work is xCurrent, xRapid, xVia
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Open Source
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General |
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Blockchain / DLT type
Details
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Public with Private Forks
Ethereum can be a public or private blockchain. The Ethereum Main network is obviously a public blockchain, but with increasing enterprise-focus a number of projects and consortiums (Ethereum Aliiance) have been launched that develop private blockchains (e.g. Quorum)
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Permissioned Network, Public Architecture
Ripple uses a decentralized network, but has trusted validator nodes who confirm transactions through the 'last closed ledger'.
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Not a blockchain. Uses DLT to create transaction efficiencies between permissioned parties rather than the same ledger for the entire network, which R3 Corda believes is inefficient.
https://vimeo.com/205410473
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Generic, with DApp and Smart Contract support for wider applications
For Ethereum it is not modularity that stands out but the provision of a generic platform suitable for various types of transactions and applications
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Yes
3 different plug and play offers on top of the protocol layer for specific needs: xCurrent, xRapid, xVia
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Less focus on modularity
Focus is on financial applications, but may support more use cases in the future.
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limited by PoW
currently supports a maximum of 15 TPS
designed for public networks, limited by Proof of Work (PoW) consensus
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1500 TPS with potential of tens of thousands through Ripple Payment Channels
While it does not compare to the tps of a Visa transaction (~150,000), Ripple offers a stable solution for the size it it currently at.
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Corda focuses on scaling through reducing inefficiencies in consensus mechanisms. By limiting involvement to just the transacting parties, beneficiaries, and verifiers it aims to position itself as more scalable than PoW
performance considerations https://www.corda.net/2017/12/dlt-performance-considerations/
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Varies
https://bitinfocharts.com/comparison/size-eth.html#3m
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Large
The ledger is constantly refreshed as soon as there is a new input in the network. The last closed ledger model is different from the blockchain, in that there are no history of blocks for the distributed ledger.
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Varies
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