Hyperledger Foundation Fabric, 11 Jun 2021

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From YouTube: Create Tokens Implementing ERC20 and ERC721 on Hyperledger Fabric - Yuki Kondo, Hitachi, Ltd.

Description

Create Tokens Implementing ERC20 and ERC721 on Hyperledger Fabric - Yuki Kondo, Hitachi, Ltd.

The number of tokens issued on Blockchain is increasing. Token represents various assets like coins, reward points, securities, tickets and properties. Blockchain is used to track the ownership of tokens and keep the transparency of transactions. When B2B companies issue tokens, they need to consider the specification of tokens and the process to get signatures from appropriate stakeholders. Hyperledger Fabric is suitable for B2B tokens because it has built-in features like organization-based identity model, endorsement policies and data privacy. In this session, Yuki will explain the token contributed to fabric-samples and how to try it. The token is Chaincode implementing ERC20 and ERC721 interfaces on Hyperledger Fabric. The Chaincode has functions to issue, transfer and redeem fungible tokens and non-fungible tokens. The token is customizable for advanced use cases.
Sessions Details & Slides (if available)- https://sched.co/j3b3

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Hyperledger – Open Source Blockchain Technologies

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Hello: everyone, uh I'm yuki from hitachi today, I'd like to share my contribution to hybrid of fabric, I'm a researcher and I am working to develop new blockchain applications, uh I'm now interested in token. So I made a reference implementation of erc20 and ess 71 on hyper fabric and the code was already merged in hybrid fabric.

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So in the session I want to share the motivation design and how to use it.

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Here's a ginger. The first topic is motivation.

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As brian said, as a keynote speech session, token is a very hot topic. Token is expected to transform our daily life or businesses. There are various tokens like cash, security, property ticket, etc.

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A token represents ownership of our digital over fiscal assets. So we can use tokens for many use cases.

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So token is created by tokenization.

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Tokenization means a process of transferring lice of an existing asset into a digital token.

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When an owner shows the vacation of ownership, the asset is converted into token on blockchain network.

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We use blockchain for various graphics.

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We, if we use blockchain photographs, we can reduce the intermediaries and the asset is stored on secure and immutable database.

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So we can track the history of assets and we can also split an asset into more virtual assets, so these features will create new ideas, so we use a blockchain for tokens so how we design tokens where we design tokens we design token application and infrastructure talk. Application means that we design the specification of tokens like data model or behavior for designing tokens. We can use some token type, oracle, constructors and customize it.

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We also need to consider legal compliance or governance or integratability to satisfy our use case after designing the took application. We also designed the infrastructure to satisfy our requirement. We designed security, security and privacy of infrastructure, and we also need agency management system. So these are the stacks of token application and.

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Infrastructure.

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So token became popular in british market fast now. D2B market is also expecting tokens because toku will uh toka will transform their complex business processes or to really create new business opportunities.

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There are some use cases like supply chain finance trade, finance over club accounting.

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This graph shows an example of sufficient finance with token many stakeholders can get benefit from tokens, and this ground shows the typical structure of manufactures like automotive industries or electronics industries. A large.

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Corporate buy some parts from tr1 supply, a and large company provides.

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Supply a so there once the body cannot get charged in 30 minutes or 60 days. So if your supplier doesn't have enough chance, they tend to pay to tier.

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2 supplier b to solve issues we can use tokens.

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A large corporate can issue a token representing digital payment obligation granted by financial institutions, and the large company can use this token to buy some parts from tier one supplier. A.

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Then tier one server a can.

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Use this token to pay to tattoo supplier b.

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And these suppliers can also apply financing.

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To financial institutions by using this token, so this is uh examples of b2b tokens.

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However, there are some issues in b2b tokens, because developing token system is beyond developing smart contract, so governance model is also important.

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First, clear responsibility is required, b2b transactions need to be approved by legal entities which usually exist, and the transaction finality is also important to make the contract effective and the participating companies need to follow compliance policy and they need to pass audit process.

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Secondly, confidentiality is important.

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B2B transactions have many configurations, get the confidential data, so a transaction should be kept among relevant stakeholders.

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At the same time, we also achieved usability because the benefit of token is tracking the history of assets, so we need to consider the path between privacy and traceability.

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Lastly, tokens need to be easy to use many stakeholders.

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Join this token network, so.

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Everyone can understand the token specification correctly.

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To solve these issues,.

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I implemented yoshi20 and ese 720 token on highpass fabric for clear responsibility, hybrid fabric provides organization based identity model and endorsement policy. So transactions are signed and agreed by legal entities.

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Further, it could buy the consensus mechanism called execute order, violate model, so transaction finality is granted for confidentiality fabric.

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Provides channel and private data collections so we can keep transaction secret for easy to use.

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I used yoshi20 and years 71 which to constrain that, and I will explain it in there later and the fabric also support jail program. Languages like javascript go and java, so engineers can develop smart contract easily.

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So this is the basic idea of my solution.

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So let me explain the design in detail.

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So there are two famous.

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Token types fingerprint token and non-visual token find your token is interchangeable and indistinguishable from each other. Examples include money, gold, oil, etc.

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Known factory token is unique and distinguishable from each other. We can track the ownership of each one separately. Examples include artworks houses, tickets and etcetera.

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Various tokens are derived from faster token or non-project token, and some tokens are combination of these two tokens.

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In italian, there are standardized token specifications for financial tokens and no azure token erg20 is the interface for financial token and erc. 731 is the interface for non-usb token.

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These standards define always interface of smart contract and the implementation is get for each.

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Developers so it means implementation is left for each blockchain. So.

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I decided to develop the phrase implementation of erc20 and es721 on hyperfabric, because we can reuse this process of tokens and we can also satisfy the strong government's requirement for b2b tokens.

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This group, this graph, shows the functions of functions token, smart contract.

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Now we can issue tokens, then the issue token can be transferred to other users and it also renames a token at the end of the lifecycle and users can also get the bias of.

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Each owner and get the total balance.

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Now these functions are implementations of erg20 and I also added some functions for operations in the real use cases. So this graph shows the functions of non-virtual token smart contract like faster tokens. We can issue token and then we can transfer the token to other oil and we can resume it and no further token has an owner on it so which gets owner of the token, and we can.

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Get the path of each owner and total supply.

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So the toggle smart contract uses identity management. User accounts are linked to current entities issued by organizations. Each organization has a certificate of salty to register and android users in this graph. O1 has a ca and ca issues: identity for user one and the user. One has an account in factory token, and the franchise token has achieved data. The key is the identity of the user and the value.

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Is a verse of user, so this is how a user is linked to an account.

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Token, smart contract has access control policy based on msp id or user identity. All the identities for permitted organization can issue unreal tokens.

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In this future, organ is an.

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Issuing company, so anyone under this organization can issue a token because it passes access control.

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On the other hand, user 2 at world 2 cannot issue token because it doesn't have varied msp id for transfer or easy owner or publishing. Third party can transfer tokens now without to transfer his or a token because he or she is.

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So this is just a reference implementation, so you can customize the access control policy to satisfy your use case.

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So when I contributed the call to fabric committee, I had some discussions with fabric maintenance and we made some decisions to improve the quality of smart token smart contract. So let me some tips for fabric engineers.

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The first tips is to make the most of jenko's functionalities. As far as we satisfy the original goal of es1721 specification.

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Erc 721 has animation extension, animation, extension is uh optional and it allows a construct to publish its full list of non-factory tokens.

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So smart contract marries a list of tokens owned by all owners, so it has a counter containing old token. So, when the number ten congress is the counter concerns huge memory. So to avoid the memory shortage, we remove the entity from the toka smart contract.

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We can do it because for chain code has an api called get state by partial completes the key. So we can get little tokens by calling this function, so we can save the memory space.

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The other tips is avoiding mvcc conflict everywhere. Cc stands for multi-virtual concussion check. It is a common issue in fabric, and this program happens when implementing the token and no possible token has a function. Vaso brazo return, the.

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Number of tokens.

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Owned by each owner so.

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And the simple implementation is having a pass record for each owner and when transferring a nonprofit token, we can add one or give one to.

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Council bands, however, when multiple transactions.

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Transfer d5 tokens owned by either one and many transactions try to update the partners of both user one at the same time, so it lists the mvcc conflicts and the transactions are not committed.

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So to avoid the issue we removed.

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User account records so.

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Instead of having an independent keys, we count the balance.

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As a great time, so when parts of this code.

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Took together searched and it returns as a number of tokens owned by each owner.

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So this is a reference implementation, so I think you are curious about the difference.

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Or relationship between fabric, stroke and elsa token, so my idea is to select a private token for your use case and, for example, if you need consensus between legal entities or you need clear governance, we can use fabric hybrids fabric token or you need a token accessible to anyone or.

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Native cliff token, you can use your same token. In other words, about fabric is suitable.

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For use case, which requires some governance.

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So the last part is getting started.

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So this implementation is available at.

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Fabric samples repository each sample contains with me, and let me explain the test scenario and how to issue transfer token step by step.

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In this session I will work through the most important part. So if you are interested in using.

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It please check with me at this link.

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So this graph shows the system architecture of the token.

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Sample it consists of hologram and other two and visualization.

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Has a plc chain code.

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And this network is launched by a script called test network.

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After launching the network, we issue or register identities. There are two users in this case scenario, mentor and recipient. So obviously.

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Issues an identity.

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For mentor and or to share issues and identity.

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So now we can usually transfer.

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Tokens so in the test scenario meter at org one issues some tokens to his account. Then the meter transfers some tokens to recipient at over two.

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So this is very basic scenario, so you can.

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Add more scenarios.

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This token is just a smart contract, so you can add more data model or behavior as you like, so please try it.

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So this is a summary of.

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My presentation and the motivation was to create tokens for b2b use cases because it requires a slow balance model so.

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Used average fabric to satisfy the strong governance requirement. I also used the interface of erc20 and erc7281 to use this proxies of tokens, and I also tried to make most of big functionalities to make simple smart contracts, as implementation is available at fab example. Possibly, so please check and try it. This is my. This is the end of my presentation. Thank you for everyone.

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Let's go to that job.

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I'm loading it.

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Sorry for everyone.

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It may be some technical issues, sorry.

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There are a couple of um questions in the chat window, so maybe you can just use the chat window.

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Chat, oh okay,.

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Thank you. Okay,.

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So yeah to share my contribution with you. If you check there.

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In javascript so.

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But uh transfer token is and javascript so please check the repository.

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Next question: from.

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Could you please share it.

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My thread is uploaded as a.

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Forum, so you can download my slides from the website and in the slide I put the link to the repository. So please check just like our link so.

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Okay, you have this tutorial, uh so it's not.

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A tutorial, but they do me, maybe some kind of tutorial, so we explain the scenario and uh how to set up the fabric, how to register use icd and uh how to issue tokens and transfer tokens. So it's it may be uh yeah such kind. It might it's not a tutorial, but uh yeah you can walk through how to use it. So please please check that with me.

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Okay, question.

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So what does the difficulties with creating five tokens compared with erc 20 erc 721.

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The big difference is a programming.

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Language and so.

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As you know, original is sorry. Toku is sorry and fabric. Smart contract is a written, go over javascript.

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Familiar with google, javascript and fabric token may be a good starting point and, if you're familiar with sweet tea, and you want to use as a kryptonite toku or instead of tokus, you.

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Can start from.

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Jerusalem- oh sorry, next question. Oh sorry and.

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I mean what did you call these to you for see using fucktalk information, quality.

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For great work, production program, okay, yeah, it's a good question so for production.

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Use and uh I think, there's issues and.

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The first issue is uh um first issue: is the.

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Quality of smart contract, so, as you know, there are some famous instincts of the security work back in smart contract.

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So for production we need to test a smart contact jeffrey uh to check uh if there's no bugs or if you find some bugs as a production operation, you need to fix it immediately and to save our assets.

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Now, okay, it will be the last question, so thank you markus uh to reward a supplier in a hybrid file supply chain for good performance. I usually recommend f of two to watch just a simple virtual ecosystem.

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If token osg20.

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So I'm sorry, I can't catch the context so.

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I'm sorry very, very long.

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But let's think we can use this.

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Or customize token for supply chain, you know and.

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To represent the ownership of physical assets, so supply chain means uh transfer access to.

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Stakeholders into networks so.

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Yeah, I think we can apply these tokens to the supply chain network.

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Thank you for everyone, I'm very happy to be here with you today, so I got many good feedback from you. So I appreciate you so.

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Yeah, as I mentioned uh just.

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Slide is available at the hyperledger group forum site. So please download the slide and check the positivity. And if you have any feedback, please let me know- or you can just post it to the github or fabrication public chat.

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So, thank you. Everyone yeah, so.

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Good day and please enjoy the other sessions. Thank you. Bye.