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Bitmark and Hyperledger Workshop: the Digital Assets and Property

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

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Bitmark and Hyperledger Workshop: the Digital Assets and Property

  1. 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. 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. 3. 1.0 2.0 3.0 FinTech and Cryptocurrency Non-fintech Distributed ledger 3 Background
  4. 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 4 Background
  5. 5. Source: https://www.ft.com/content/eb1f8256-7b4b-11e5-a1fe-567b37f80b64#axzz3qe4rV5dH How a Blockchain Works 5
  6. 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) 6
  7. 7. Preliminary Hyperledger Fabric the “network”the “ledger” 7
  8. 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 8
  9. 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 9
  10. 10. Chaincode • Software-defined assets • Transaction instructions for modifying assets • Aka “smart contracts” • Business logic 10
  11. 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) 11
  12. 12. System Architecture • Transactions • Deploy transactions • Invoke transactions • Blockchain datastructures • Nodes 12
  13. 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 13
  14. 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 14
  15. 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 15
  16. 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 16
  17. 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 17
  18. 18. Semantic Web Stack 18 Source: https://en.wikipedia.org/wiki/Semantic_Web_Stack 18
  19. 19. Web 3.0 and Assets • Publish / Share • Transfer / Sell • “Copyright (C) 2017 Jollen” • Defined assets on the ledger 19
  20. 20. Thank You ! Questions ? Or by email through jollen@bitmark.com

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