Sure, everyone has heard the words Ethereum and Bitcoin. Since they are part of the blockchain world, they have captured the world’s attention with extensive media coverage. Generally speaking, blockchain technology has gained commercial interest due to its decentralized, immutable, and transparent nature. Another noteworthy project that has appeared in recent years is Hyperledger.
What is hyperledger?
Hyperledger is an open source block and related tool project hosted by the Linux Foundation. It was created in 2015 and aims to advance blockchain technologies across the industry. Hyperledger does not support cryptocurrencies and is not a cryptocurrency network or traditional blockchain system.
So what is Hyperledger? The project aims to facilitate the work of developers and companies regarding blockchain adoption. It provides the standards and infrastructure needed to develop and implement blockchain solutions in various industries.
Hyperledger body depth
The Hyperledger project can be envisioned as a home with open source development tools and libraries as a foundation, and modular frameworks right under the roof.
One of the widely used digital ledgers is called Hyperledger Fabric. It is a licensed blockchain infrastructure that serves as the basis for building applications or solutions with modular architecture.
Hyperledger Besu is an Ethereum client designed for enterprise use for both public and private use cases for licensed networks. The next framework, Hyperledger Burrow, runs on smart contracts and represents a single-binary blockchain distribution that supports EVM and WASM.
Hyperledger Indy can work independently or even interact with other blockchains. Indy was developed specifically for decentralized identities. There is a more user-friendly unified platform called Hyperledger Iroha. The framework includes a role-based permission form and multi-signature support. Iroha is designed for digital asset management systems and is used to manage identity and chain data. As part of the Hyperledger system, cryptocurrencies also don’t exist here.
The Hyperledger Sawtooth digital ledger provides a modular architecture in which smart contracts can define business rules for applications without requiring basic system design knowledge. Sawtooth uses the Python programming language, simplifies deployment and maintenance of the ultimate software.
Hyperledger apps compared to other companies’ solutions
Let’s take a look at the differences between traditional web portals and blockchain-based solutions. The former lacks the speed, security, and traceability, while the blockchain provides the high transaction speed and improved security provided by smart contracts and cryptography. As for Hyperledger dApps in particular, it has the ability to handle complex business processes in a matter of hours.
When it comes to unlicensed blockchain solutions and licensed Hyperledger applications, there are several major differences. Unauthorized blockchain solutions involve no zero regulation, allow anonymous crypto identities and generally represent generic systems in a shared ledger. Track fraud is code-based and it is impossible to alter transactions.
Hyperledger apps are public and private systems where the workflow is supervised by the regulators. Hyperledger app participants are real and identifiable, and transaction identities can be tracked.
Altogether, Hyperledger guarantees data exchange against tampering and cryptographic validation of contract terms and operations. The toolkit is rich in platforms and frameworks that can be selected according to business specifications. Ultimately, implementing the solution will help standardize databases, enhance performance and scalability, reduce fraud risks, protect sensitive data, and streamline your return on investment.
Industries are ready to adopt Hyperledger
Hyperledger has already entered multiple fields, such as supply chain management, retail, healthcare, financial technology, Internet of Things, banking, and manufacturing. Among the companies using this technology are Wal-Mart, Amazon, Nestlé, Visa, Maersk, China Postal Provider Bank, and others.
To start innovating your organization with Hyperledger accreditation, you need to choose a competent Hyperledger development company that will design a custom solution to meet your business challenges.