Hyperledger in a nutshell.
Hyperledger helps to enable re-use of common building blocks and at the same time facilitate faster innovation of DLT components. This process enhances efficiency.
Open Source Blockchain
The hyperledger project was launched by the Linux Foundation back in 2015. This project helps in the blockchain-based distributed ledgers’ collaborative development. In the process, Hyperledger provides a wide array of blockchain open sources as well as related tools. This is extremely good news for those who are planning to launch token or blockchain technology-based programs as the development process gets streamlined through common resource provision for all to share.
The blockchain space is all set to experience a revolutionizing start with Hyperledger project. Hyperledger project will definitely continue changing blockchain space for the better.
Benefits For Global Business Transactions
The Hyperledger project helps in improving performance as well as the reliability of both blockchains and distributed ledgers, thereby rendering them fit to support global business transactions. More and more companies are learning the benefits of Hyperledger and that’s why some of the most established companies, and biggest names in the industry such as IBM, Microsoft, United Nations are getting involved in the project.
Blockchain for the Masses
By launching Hyperledger project, the mission of Linux Foundation is to bring the coveted blockchain technology into the mainstream and out of the shadows that create unnecessary myths around it. Hyperledger project encourages cross-industry collaboration through the development of shared blockchains as well as distributed databases.
Hyperledger Blockchain Platforms
Hyperledger Blockchain Platform consists of 5 major blockchain frameworks. Each of them has their specific usage. With more and more businesses becoming aware of the blockchain technology’s immense potential, more pop-ups are expected to come in the near future.
The 5 blockchain frameworks are
- Hyperledger Burrow
- Hyperledger Fabric
- Hyperledger Iroha
- Hyperledger Sawtooth
- Hyperledger Indy
This is a ‘permissionable’ smart contract machine that was released back in December 2014. This blockchain framework provides you with a modular blockchain client having a smart contract interpreter (with adequate permissions) that was built in part to EVM’s (Ethereum Virtual Machine) specifications.
Hyperledger Fabric allows consensus as well as membership service components to be plugged in and played. It comes with a modular architecture that has the intended foundation for developing solutions or applications.
This is essentially a business blockchain framework. Its design is simple as well as easy and can be incorporated into the infrastructural projects through distributed ledger technology.
Hyperledger Sawtooth blockchain framework is essentially a modular platform that can be used to build, deploy, and run distributed ledgers. This blockchain framework comes with a novel consensus algorithm and PoET (Proof of Elapsed Time) that targets large distributed validator populations by consuming the minimal amount of resources.
This blockchain framework is essentially a distributed ledger that has been built for the specific purpose of achieving decentralized identity. Hyperledger Indy not only provides you with tools but also with libraries as well as reusable components so that independent digital identities can be created and used. These independent digital identities have their roots either on blockchains or other distributed ledgers, promoting interoperability.
Hyperledger offers a wide array of tools in addition to the above mentioned Hyperledger blockchain platforms. These tools help in speeding up the process of development, especially for those who look forward to inhabiting the blockchain space.
Many Hyperledger tools are currently in the process of development. However, currently at the time of writing, the following 4 main Hyperledger available tools are:
- Hyperledger Cello
- Hyperledger Composer
- Hyperledger Explorer
- Hyperledger Quilt
This Hyperledger Tool helps in bringing the on-demand deployment model as-a-service to the ecosystem of the blockchain, thereby reducing the efforts needed to create, manage, and terminate blockchains.
It is a collaboration tool, helping to build blockchain business networks, accelerate smart contract development, and ultimately deploy across a distributed ledger.
Hyperledger Explorer is an extremely useful tool for viewing, invoking, deploying or querying blocks, transactions & associated data, chain codes & transaction families, network information, and other relevant information that are stored in the ledger.
Hyperledger Quilt is an important tool that helps interoperability among ledger systems. This is done through the implementation of ILP, which is essentially a payments protocol, designed for transferring value throughout the ledger systems (both distributed and non-distributed).
Collaboration is key
Collaboration is the key to business success. This basic idea of success is also shared by the core belief system of the Hyperledger team.
The sense of unity along with the shared vision of the future of the blockchain technology as well as the wider community of cryptocurrency makes it beneficial for everyone. In fact, it’s this idea of a connected world that benefits all. This sense of shared vision and benefit to all concepts was first understood by Satoshi Nakamoto, the person or the team that developed Bitcoin, back in 2009. The same benefit-all concept and idea are still living on currently among the disruptive spirit of the “Cyperpunks”.
We, at End2EndFactory, fully understand the extremely competitive nature of this business. However, we are also aware of the fact that downright ruthless competition also comes with a sense of collaboration, especially when it comes to the shared goals. That’s why Hyperledger project is so unique and has drawn the most successful business houses towards it.
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