Why Ethereum? Why Hyperledger? Which one should you pick? What are the pros and cons of each? How much will it cost to hire an Ethereum developer, Hyperledger developer, or other cryptocurrency experts? How many years of experience do these developers have? These are all important questions that you need to answer before moving forward with your project. Let’s get into the details of this guide to help you make your choice easier!

What Is Hyperledger?

Hyperledger is an open-source collaborative effort created to advance cross-industry blockchain technologies. It is a global collaboration, hosted by The Linux Foundation, including leaders in finance, banking, Internet of Things, supply chains, manufacturing, and Technology. Its members come from different blockchain backgrounds — academia, distributed ledger solutions, cryptology, and technology providers.

What Is Ethereum?

Initially proposed by Vitalik Buterin and launched in July 2015, Ethereum is a decentralized software platform that enables Smart Contracts and Distributed Applications (ĐApps) to be built and run without any downtime, fraud, control, or interference from a third party. The applications on Ethereum are run on its platform-specific cryptographic token, ether. According to Vitalik Buterin’s, ether is a necessary element — a fuel — for powering the distributed application.

Hyperledger Vs. Ethereum: A Comprehensive Comparison

It is undeniable that blockchain technology has changed a lot of our lives for the better. Hyperledger and Ethereum are two important cryptocurrencies built on blockchain technology. Many people think that these two digital currencies compete with each other because they both look to be dominating solutions for businesses, but that’s not true. They are not competitors, rather, there are some similarities between them, which we will discuss later in detail.

Confidentiality:

It is a private blockchain. It provides a decentralized platform for business applications by supporting smart contracts and distributed ledger technology (DLT). Furthermore, it was launched on January 28, 2016, by Digital Asset Holdings. Its main components are Studio, which lets users develop code and Sawtooth Lake which can be used to run it. IBM has joined it as one of its major partners. Sawtooth Lake provides smart contract functionalities such as data privacy, consensus-building systems, and API for permissions.

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