Last week, Kadena founder Stuart Popejoy questioned whether the IBM HyperLedger Fabric blockchain was a ‘real’ blockchain in this article on Cointelegraph.
His argument has several provocative points, but his central concern is Fabric’s consensus mechanism. According to Popejoy, “A blockchain is, at its core, a decentralized immutable ledger of events or transactions in which truth is enforced by a consensus mechanism” – a definition most readers would more or less agree to.
However, IBM “conveniently leaves out decentralized consensus [from its definition of blockchain],” according to Popejoy, “because Hyperledger Fabric doesn’t require a true consensus mechanism at all.”
Instead, Fabric uses the Kafka ordering service, which in Popejoy’s estimation, leaves Fabric with numerous vulnerabilities – as well as a plethora of other concerns including performance challenges and problems with how Fabric handles smart contracts.
Popejoy should know what he’s talking about. He worked at JPMorgan Chase researching and vetting blockchains for the bank’s potential use.
Read the entire article at https://dailyiconews.com/crypto-skepticism-of-the-week/in-search-of-real-blockchain-good-luck-with-that/jason-bloomberg/2019/07/07/.
IBM is an Intellyx customer. None of the other companies mentioned in this article are Intellyx customers. Jason Bloomberg neither owns, nor plans to own, any cryptocurrency or other cryptotoken, either long or short.
