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Explain the value of a business network - correct answer ✅A business network is a complex network of companies working together to accomplish a certain objective Business networks benefit from connectivity and data transparency Participants are customers, suppliers, partners and can be cross- geography Business networks enable streamlined business processes and allow companies to focus on their specialties Articulate Blockchain for business concepts - correct answer ✅Smart Contract - A set of code-based workflows that are predetermined by two counterparties that can automatically set deal terms based on various thresholds Public Blockchain Private Blockchain Permissioned Blockchain Consortium Articulate the differences between blockchain for business and other blockchain - correct answer ✅Because of privacy issues present in a business environment. A company may elect to implement a private or permissioned blockchain, rather than a public blockchain (i.e. BTC)
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Companies can configure the consensus mechanism, assets being transferred, or what data gets written to the blockchain and assign permissions to network admins Requirements of a blockchain for business Assets: Participants decide which assets to share Identity: Participants now who they are dealing with; information shared is need-to-know Endorsement: Participants give provable endorsements Demonstrate an understanding of the key stakeholders in a blockchain solution - correct answer ✅ Outline the Hyperledger projects and goals - correct answer ✅Burrow - Permission able smart contract machine (EVM) Fabric - Permissioned with channel support Indy - Decentralized Identity Iroha - Mobile application focus Sawtooth - Permissioned & permission less support; EVM transaction family Caliper - Blockchain framework benchmark platform Cello - As-a-service deployment Composer - Model and build blockchain networks Explorer - View and explore data on the blockchain Quilt - Ledger interoperability
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- The endorsing peer simulates a transaction and produces an endorsement signature
- The submitting client collects an endorsement for a transaction and broadcasts it through an ordering service
- The ordering service delivers transactions to the peers
Summarize the principles good chaincode design - correct answer ✅The blockchain is a distributed system consisting of many nodes that communicate with each other. The blockchain runs programs called chaincode, holds state and ledger data, and executes transactions. The chaincode is the central element as transactions are operations invoked on the chaincode. Transactions have to be "endorsed" and only endorsed transactions may be committed and have an effect on the state. Identify an appropriate language approach for the blockchain - correct answer ✅C++ The language behind every major technology used in the industry, C++ retains its superiority even in the blockchain technology. ... Java. ... Python. ... Ruby. ... Solidity. ... Go. ... C# ... JavaScript.
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Identify concerns for GDPR and PII - correct answer ✅ Explain the components of a Hyperledger Fabric blockchain - correct answer ✅A pluggable ordering service establishes consensus on the order of transactions and then broadcasts blocks to peers. A pluggable membership service provider is responsible for associating entities in the network with cryptographic identities. An optional peer-to-peer gossip service disseminates the blocks output by ordering service to other peers. Smart contracts ("chain code") run within a container environment (e.g. Docker) for isolation. They can be written in standard programming languages but do not have direct access to the ledger state. The ledger can be configured to support a variety of DBMSs. A pluggable endorsement and validation policy enforcement that can be independently configured per application. Articulate the value of the IBM Blockchain Platform (IBP) - correct answer ✅The IBM Blockchain Platform provides a managed, full stack blockchain- as- a- service (BaaS) offering delivered in an environment of your choice, including the IBM Cloud, on-premises, and third—party clouds. It allows members to develop, operate, govern and grow a network with the performance and security necessary for even the most demanding use cases in regulated industries. The IBM Blockchain Platform enables you to create a blockchain network with a few clicks and provides an easy-touse interface for
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IBM Blockchain Platform on IBM Cloud: The next generation of the IBM Blockchain Platform, based on a Kubernetes architecture, includes more control, flexibility, scalability and enhanced developer tools. IBM Blockchain Platform for hybrid and mutlicloud: Take advantage of the full IBM Blockchain Platform solution behind your firewall in your private cloud or in third-party clouds of your choice. Articulate the value of LinuxONE in IBP - correct answer ✅LinuxONE provides two major features that may be of interest to businesses looking for a platform for innovative blockchain solutions. The encryption features allow users to run blockchain at level of encryption required in many regulated industries and at a high speed. In addition, the use of IBM's Secure Service Container, a hardened and encrypted version of its blockchain solution, allows users to run the solution, knowing that there is no administrative access without the master encryption key. This reduces the risk of impacting core business applications and is important considering 58 percent of IT ops and security managers believe organizations are granting unnecessary access to their staff. Articulate the value of hardware security modules in IBP - correct answer ✅It's critical to use a HSM to secure the blockchain identity keys. It is equally important to ensure that each organization has its own partition in the HSM where the keys are stored. Using the HSM to store the blockchain identity keys ensures the security of the keys.
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Identify the IBM support and services channels - correct answer ✅ Explain the key roles in an IBM solution - correct answer ✅ Describe how IBP enables the governance of a blockchain network
- correct answer ✅-Democratic management tools allow members of a network to collectively manage the rules and policies governing the decentralized business network -Dynamic management environment provides the capability to add members to a network as it grows, and new smart contracts become available -Pre-built tools for faster on-boarding customization and activation Appreciate the liability responsibilities for chaincode and other assets when using IBP - correct answer ✅ Design a blockchain architecture for IBM Blockchain Platform (IBP) - correct answer ✅ Identify and explain the key parts of a IBP network diagram - correct answer ✅ Describe the required IBP assets (front end, backend) - correct answer ✅
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Advise how to secure a blockchain - correct answer ✅-Treat the underlying infrastructure of the blockchain solution as critical infrastructure. -Partition and adopt best practices for namespacing to regulate access -Define and enforce the appropriate endorsement policies based on business contracts -Enforce identity and access controls to access the blockchain solution and data -Enforce the hardware security module (HSM) -Use a privledged access management (PAM) solution for escalated actions -Use API security best practices to safeguard API-based transactions -Leverage a secrets-store for both application and privileged access -Adopt a data classification approach to safeguard data/information -Use privacy-preserving technologies for sensitive information -Protect applications from vulnerabilities and safeguard data -Enforce access control in smart contracts -Leverage Trusted Platform Modules (TPMs) for sensitive code execution -Secure communications both internally and externally
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Advise how to manage identities in an IBP - correct answer ✅Define policies that ensure the right level of access to the right individual for the right use. New members should be on-boarded into the blockchain platform through appropriate identity and access mechanisms. The off-boarding process should also be defined to stop any information exfiltration (malicious activity performed through various different techniques). Audit logs and access processes need to be put in place to alert the operations team of any malicious activity so it can be mitigated. If the organization is using the in-house IAM system and playing the role of identity provider (IDP), appropriate tokens like OAUTH, OIDC, and SAML2 should be used to perform the authentication, verification, and authorization. This applies to other consortium members as well. Key decisions around whether the consortium members are IDPs or service providers should be made up front Plan a migration from another platform to IBP - correct answer ✅ Describe how to operate an IBP network - correct answer ✅Activation Tools - Available activation tools allow members to easily invite new members, set up new smart contracts, and create secure channels within a broader business network Policy Editor - The IBM Blockchain Platform allows permissioned members of a decentralized business network to collaboratively update the policies that govern the network. Multi-party Workflow Simulation - The IBM Blockchain Platform allows you to create as many Members and Organizations
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2d. Verify upgrade completion.
- Upgrade the peer binaries to Fabric (Latest) 3a. Stop the peer 3b. Back up the peer's ledger and MSP 3c. Remove chaincode containers and images 3d. Restart the peer with latest image 3e. Verify upgrade completion
- Update channel capabilities to (Latest) 4a. Get the latest channel config 4b. Create a modified channel config 4c. Create a config update transaction Explain the features for hosting IBP components outside of the public IBM Cloud - correct answer ✅Many organizations have data residency requirements that require some workloads to run in their datacenters or private clouds, behind their firewall or in third-party clouds. In many use cases, blockchain deployments will be no exception. Therefore, IBM has introduced IBM Blockchain Platform for hybrid and multicloud, enabling you to deploy in the environment that meets your requirements. The IBM Blockchain Platform makes it easy to manage costs, security and data sovereignty in ways that work for you. In September 2019, the IBM Blockchain Platform was further enhanced to enable your ability to build blockchain networks anywhere. IBM announced a new version of the IBM Blockchain Platform software, which is optimized to deploy on Red Hat OpenShift, Red Hat's state-of-the- art enterprise Kubernetes platform. This means you now have even more flexibility when choosing where to deploy your blockchain network components, whether on-premises, in public
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clouds, or in hybrid/multi cloud architectures. Out of the box, the software includes the tools to build, operate, govern and grow blockchain networks. Why is an enterprise blockchain network ideal for provenance? - correct answer ✅It gives all permissioned participants a shared view of the assets. Which feature of Bitcoin also applies to all business blockchains? - correct answer ✅Irrefutable proof Which consensus algorithm is the most energy intensive to run? - correct answer ✅Proof of Work Who owns the Hyperledger project? - correct answer ✅Linux Foundation Fabricorp is the founder of a blockchain network on IBM Blockchain Platform. They invite two other companies, Circlecorp and Squarecorp to join them in the network. The solution they are developing requires that any transactions between two corporations are viewable by only those corporations, with the third corporation being able to view only evidence the transaction occurred, but none of the details. What is the appropriate design?
- correct answer ✅Create a single channel with three private data collections. . An organization that is already part of a blockchain network adds another peer to the network who will hold the ledger and endorse
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IBM Blockchain Platform Enterprise plan includes which two security related features? - correct answer ✅Secure Service Containers, hardware security module to secure private keys What would an IBM Blockchain Platform client need to consider as part of a Hyperledger Fabric version upgrade plan? - correct answer ✅Required API updates to chaincode. HyperLedger Caliper - correct answer ✅A blockchain benchmark tool that measures the performance of any blockchain by using a set of predefined use cases This tool produces reports that show a number of performance indicators, such as: -Resource utilization -Transaction latency -Transactions per second (TPS) Does not publish benchmark results. The idea is to use it as an in- house reference to help choose the blockchain implementation best-suited for a company's specific needs Hyperledger Cello - correct answer ✅A set of tools to bring the on-demand deployment model to the blockchain ecosystem with automated ways to provision and manage blockchain operations that reduce effort.
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Goal is to help enterprises quickly and easily adopt blockchain technologies, by providing automated ways to create, manage, and terminate blockchains Hyperledger Composer - correct answer ✅An open development toolset and framework to make developing blockchain applications easier. Goal is to make it easier to integrate blockchain applications with existing business systems, and thus accelerate time-to-value. Also enable users to quickly model an existing business network and integrate existing systems and data with blockchain applications. Hyperledger Explorer - correct answer ✅A dashboard for viewing information on the network including blocks, node logs, statistics, smart contracts, and transactions. Goals of the explorer project include:
- To create a generic web based blockchain explorer that's easy to install and use with different blockchain platforms
- To use the latest tools and technologies to make explorer easy to implement, maintain, and extend.
- To support the standard package manners on most popular platforms to ensure the Explorer is quick and easy to install
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Peer Nodes - correct answer ✅Where the ledger is contained, where blockchain and state DB are contained (real info on the assets) Consists of two separate runtimes
- Endorsing runtime = Validation and signoffs of transaction proposals
- Committing runtime = Transactions are validated, ensures all essential information is present and accurate prior to being appended to the ledger File system of peer node is where the smart contracts and chain code are located (Business logic for the assets) Intermediate CA provides digital certifications to peer nodes Typical Flow of Consensus Execution - correct answer ✅1. The application submits a request to invoke a transaction.
- The transaction is shared around the network
- A designated peer creates a block containing the transaction
- The block's transactions are executed and output stored in a delta.
- The network attempts to agree the correct result
- If there is agreement, the correct output is applied to the world state.
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Proof of Work - correct answer ✅Require Validators to solve difficult cryptographic puzzles pros: works in untrusted networks cons: relies on energy use; slow to confirm transactions example: bitcoin Proof of Stake - correct answer ✅Require validators to hold currency in escrow pros: works in untrusted networks cons: requires intrinsic cryptocurrency, "nothing at stake" problem example: nxt Proof of Elapsed Time - correct answer ✅Wait time in a trusted execution environment randomizes block generation pros: efficient cons: currently tailored towards one vendor example: sawtooth-lake Solo - correct answer ✅Validators apply received transactions without consensus pros: very quick; suited to development
