Introducing the Bitmark and Hyperledger project, how they facilitate the blockchain technology for the digital assets and property world, and learn the Chaincode 101.

1. Bitmark and Hyperledger Workshop
The Digital Assets and Property
Jollen
2017.03.21 @Taipei
<jollen@bitmark.com>
Bitmark Inc.
https://bitmark.com
https://github.com/bitmark-inc

2. Agenda
• Hyperledger 全球區塊鏈開源計畫介紹
• 徹底認識 Hyperledger Fabric 架構
• Web 3.0 簡介：Proof、Cryptography 與數位資產
• 打造智能合約：Hyperledger Fabric 實作
• 創建數位資產：Bitmark 實作

3. 1.0
2.0
3.0
FinTech and Cryptocurrency
Non-fintech
Distributed ledger
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Background

4. PreviousHash Timestamp
MerkleRoot Nonce
Block #11211
PreviousHash Timestamp
MerkleRoot Nonce
Block #11212
PreviousHash Timestamp
MerkleRoot Nonce
Block #11213
Merkle tree ⽤用來紀錄這個區塊裡的
transactions
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Background

5. Source: https://www.ft.com/content/eb1f8256-7b4b-11e5-a1fe-567b37f80b64#axzz3qe4rV5dH
How a Blockchain Works
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6. Consensus Algorithms
• Proof-of-work
• Proof-of-stake
• Proof-of [ resource | existance | relibility | … ]
• “Hybrid”
• PBFT (Practical Byzantine Fault Tolerance - 拜占庭容
錯算法)
• Paxos / The Part-Time Parliament (希臘城邦算法)
• DPoS (Delegate Proof of Stake)
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7. Preliminary
Hyperledger Fabric
the “network”the “ledger”
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8. Prerequisite
• Digital Assets
• Aka the “web 3.0”
• Digital property and the “Internet of Trust”
• Chaincode
• Aka the “code on the blockchain”
• Node.js
• Use the “hfc@0.6.5” module
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9. Assets
• Range from the tangible (real estate and hardware)
to the intangible (contracts and intellectual property)
• How to define Assets
• Bitmark Desktop
• Fabric Composer
• etc
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10. Chaincode
• Software-defined assets
• Transaction instructions for modifying assets
• Aka “smart contracts”
• Business logic
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11. Exchange Assets
• The “transaction”
• Using unspent transaction outputs as the inputs for
subsequent transactions
• Fabric allows for any asset to be represented in
binary or JSON format.
• Assets live in Fabric as a collection of key-value
pairs (KVP)
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12. System Architecture
• Transactions
• Deploy transactions
• Invoke transactions
• Blockchain datastructures
• Nodes
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13. • The transaction flow consists of a transaction
proposal sent by an application client to specific
endorsing peers
• The peer executes a chaincode function to simulate
the transaction
• The proposal response gets sent back to the client
along with an endorsement signature
Chaincode and Transaction
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14. Register and Enroll
Source: https://hyperledger-fabric.readthedocs.io/en/latest/txflow.html
1. Register and enroll with the organization’s certificate
authority (CA)
2. Install chaincode on the peers and instantiate on the
channel
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15. Transaction Flow
Source: https://hyperledger-fabric.readthedocs.io/en/latest/txflow.html
1. Client A initiates a transaction
2. Endorsing peers verify signature & execute the transaction
3. Proposal responses are inspected
4. Client assembles endorsements into a transaction
5. Transaction is validated and committed
6. Ledger updated
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16. 智能合約撰寫
• The chaincode contains logic defining a set of
transaction instructions
• Agree upon price for an asset
• An endorsement policy to state that both peerA and
peerB must endorse any transaction
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17. Chaincode and Ledger
• Chaincode functions execute against the ledger
current state database and are initiated through a
transaction proposal
• Each transaction results in a set of asset key-value
pairs that are committed to the ledger as creates,
updates, or deletes
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18. Semantic Web Stack
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Source: https://en.wikipedia.org/wiki/Semantic_Web_Stack
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19. Web 3.0 and Assets
• Publish / Share
• Transfer / Sell
• “Copyright (C) 2017 Jollen”
• Defined assets on the ledger
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20. Thank You !
Questions ?
Or by email through jollen@bitmark.com