Testing Private Ledger Fabrics for Internal ICURY Transaction Support

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We’re in preparation of the next step in the ICURY project, in which we want to support internal ICURY transactions off the Ethereum ledger. The main reasons are that the transaction costs of Ethereum are far too high, the transaction speed is too low, and data on Ethereum’s ledger is public, which limits the use case because of privacy concerns.

We do a quick comparison of a few Private DLT/Secure database technologies that we might include as part of our future ICURY transaction architecture. Deliberately, we also compared a situation with a classic private database setup (DBMS), as in corporate environments a blockchain framework might not necessarily be the most effective setup.

The overview is work in progress, as during further tech trials more information about the stability and actual costs will become evident.

Overview of Private Ledger alternatives. A trial starts to verify things.

Critical for the private ICURY ledger is that internal transaction can be processed at zero transaction costs, and that high transaction processing speeds can be realized.

We starred* the features that are most critical in our evaluation.

FeaturesLedgableEOSIOStandard DBMS (e.g., MySQL or CQL)
Setup fees*120€ per node per yearAccount cost $100 one-timeDepends on server and DB capacity
Transaction costs*000
Transaction speed in TPS*>1 million tps>3,000 tps> 1 million tps, depends on configuration
Flexibility (in terms of creating our own data model)*Yes, fully relational data model, definition of chains and entities via web-interfaceYes, records defined via C++ statementsYes, fully relation data model, SQL or SQL-like
Security info*No known incidents. No external references available.Some issues, though stable in the last few months.Complete access control, distributed setup is an option. Centralized security issues.
DocumentationPoor documentationWell documentedWell documented
SLA*Enterprise account SLA: 10,000/yearNo information on SLAMany commercial offers available for standard environments.
Fully Private Nodes*YesYes (Enterprise Solutions, not using the public EOS blockchain)Yes (default)
Interface to see dataVia web-interface on each data nodeInterface is already provided with https://eostracker.io/Application based
TechnologyPrivate multi-blockchain DLTEOSIO software, public/private blockchainStable and scalable tech available, non-blockchain DLT
Consensus protocolNot predefined: controlled by the application.Proof of Stake (POS)To be be defined in the application.
Open SourceOnly NodeFully open sourceFully open source options available
dApp SupportYesHighly supportedNot Decentralized
Smart Contract SupportVia XSCRO user interface/application basedSupported, inspired on EthereumNo, application based

Possible outcomes:

  1. Choice for a blockchain-based or traditional ledger application for internal off-chain and private transactions. External transactions can still be posted on the external, public blockchain.
  2. EOS could replace ERC-20 (Ethereum) as public blockchain for external on-blockchain transactions.

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  • commented on November 8, 2018 by Rhett Adriaan Oudkerk Pool

    Hi Sowjanya, We are working on the EuropeChain EOS side chain. Please contact me.

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