Challenges facing blockchain in enterprise it
Blockchain’s debut vehicle, Bitcoin, is a permissionless implementation. Anyone can join. But not everyone in the enterprise scenario has access to every bit of information. There are laws governing privacy and confidentiality. A permissioned blockchain with better support for confidentiality overcomes this challenge.
In Blockchain’s existing DNA, transactions can be validated by anyone who is able to contribute massive amounts of computing power or most proof-of-work (the longest chain). Validation in an enterprise system is governed by business rules. This will be fulfilled by a consensus mechanism in which all network validators come to agreement on the state of a ledger (Pluggable Consensus or Consensus -as -a- Service)
In an enterprise IT scenario, Blockchain cannot reside in a silo, by itself. The Blockchain ecosystem needs to coexist with other subsystems to add value. Adding Interoperability with APIs that talk to at least one node in the block chain takes care of this. (gRPC, REST API, SDKs)
With Blockchain as is, every node is burdened with many functionalities, i.e. execution, validation, ledger maintenance and implementation of consensus logic. This causes performance and scalability issues, in addition to the ever-growing data store. The hyperledger architecture aims to separate these functionalities into pluggable components i.e. pluggable consensus service and pluggable data stores