Hyperledger Fabric- Most Popular Hyperledger Framework
A project that has poured numerous blockchain companies in a single string to develop blockchain applications together is Hyperledger! Linux Foundation started this project in 2015. It has a sole objective of encouraging open industrial blockchain development.
And obviously, Hyperledger is not a company. Neither it is a cryptocurrency nor its a blockchain! If still, you are confused, look at the definition given on its website:
“Hyperledger is an open source collaborative effort created to advance cross-industry blockchain technologies. It is a global collaboration, hosted by The Linux Foundation, including leaders in finance, banking, Internet of Things, supply chains, manufacturing, and Technology.”
Thanks to Linux Foundation! that has created an environment where groups of software developer and companies sit together and coordinate to create amazingly powerful blockchain frameworks. Linux Foundation started this platform in December month of 2015 and announced its first founding members in February month of 2016. Just after one month of the announcement, ten new members came up and joined the platform.
And presently Hyperledger has more than 100 members. Some of the members are Airbus, Dalmer, IBM, SAP, Nokia, and Samsung. Above paragraphs tell a lot on hyperledger but some of the big questions like what is Hyperledger Fabric and why is it so popular? are still unanswered. So, let’s dive into introduction first!
Introducing Hyperledger Fabric
Hyperledger Fabric is one of the prominent blockchain projects within Hyperledger. It has a ledger, smart contract and a system that helps them to manage their transactions.
The hyperledger fabric is quite different from other blockchain systems as it is private and permissioned. It is mandatory for all the members of a hyperledger fabric network to log in with the help of a valid membership service provider.
However, an open permissionless system permits unknown identities to participate in the network, which is of course not allowed for any private organization as confidential information cannot be shared publicly.
What is so special about Hyperledger Fabric?
It is designed in such a way so that it helps enterprises to scale their blockchain network to produce more than 1000 transactions per second. And, Fabric is basically made to permit various collaborative blockchains with varied degree of permissions.
This Hyperledger Fabric Project is primarily based on a special smart contract system which is known as chaincode. And every peer operates on Docker containers. Another interesting thing about hyperledger fabric is that it allows various enterprises to make parts of the blockchain.
Usually, a participant needs to register in order to join and perform transactions on a Fabric based blockchain. Moreover, Fabric has fewer nodes than a public blockchain in order to increase efficiency towards computing data massively.
This specialty could be the main reason behind high scaling of Fabric than the public blockchains. Also, Fabric does not have its native currency, but it allows users to define assets from the client side.
The fabric allows participants to create a specific channel of their own. Fabric blockchains permit the user to participate in open as well as private interactions.
Also, Hyperledger fabric utilizes a public key infrastructure to create cryptographic certificates. And Fabric’s strength is a higher grade of flexibility in permission and privacy.
Use Case for Hyperledger Fabric
Amazon AWS blockchain templates
These templates provide a quick and simple way of creating and establishing safe blockchain networks with the help of popular open source frameworks.
With the help of these templates, you can directly focus on creating your blockchain applications rather than making manual setup of your blockchain network.
To make it more clear, just assume that you want to create a website for your business. And the easiest way for that is to look for a website template and then modify it as per your business requirements.
Same is the case here. In order to advance or speed up the creation of blockchain applications for a wide range of industries, Amazon AWS blockchain templates are used. AWS blockchain templates establish the blockchain framework that you select as a container on an Amazon Elastic Container Service (ECS) cluster.
Also, you can directly select a blockchain framework on an EC2 instance running Docker. The final blockchain network is created in your Amazon VPC that permits you to use your VPC subnets and network Access Control Lists.
It is quite easy to assign granular permissions with the help of AWS Identity and Access Management to put restrictions for the resources that an Amazon ECS cluster or Amazon EC2 instance can access.
An interesting thing about Amazon AWS templates is that it does not cost you an additional charge to use the AWS blockchain template. You just pay for the resources that you require to start your blockchain network.
More on Hyperledger Fabric
Here is an informative youtube video that can give you a quick introduction to Hyperledger Fabric project.
How Hyperledger Fabric can help in Industrial development?
Hyperledger Fabric is a project in which there are certain members (companies like IBM, SAP, NOKIA ) that have collaborated to create advanced blockchain applications/software to enhance their business operational methods and procedures.
It is a step that Linux Foundation and all these companies have taken in the direction of creating a new era with business operations that are quite secure, quick and highly efficient. The cause is the use of blockchain technology in a permissioned way.
Hence, soon most of the process and applications will be based on blockchain. This is because IT giants and various blockchain startups are working to create future blockchain applications that will enhance the working efficiency of the business operations.
Hyperledger Fabric Model
Here, we will look at the special features of Hyperledger Fabric that make it the best enterprise blockchain solution.
Asset: Asset can be anything ranging from tangible (real estate, hardware) to intangible (contracts and intellectual property), etc. Hyperledger fabric offers you complete freedom to change assets with the help of chaincode transactions.
In Hyperledger fabric, assets are represented as key-value pairs. Moreover, they can be represented in binary or JSON form. It is simple to use assets in hyperledger fabric applications with the help of hyperledger composer tool.
Chaincode. It is a software that defines an asset or the transaction instructions for an asset. It is a kind of program which is written in Go. The primary function of this software is to start and manage ledger state through transactions submitted by applications.
Privacy. Hyperledger Fabric has channels and private data collections which allow private as well as confidential multilateral transactions which are most needed by competing businesses and regulated industries.
Consensus. Consensus provides flexibility and scalability required for the enterprise. It has recently become synonymous with a unique algorithm and a function. Security and Membership Services. It offers a valid blockchain network where participants know that all the transactions can be detected and traced by authorized regulators and auditors.
Hyperledger Fabric’s Application in the Supply chain industry
Many multinational companies have hired various software development companies to create and implement a supply chain based on Hyperledger Fabric to ensure fast, reliable and secure asset management.
Its benefits include the ability to track vehicle, its history and shipment using VIN just after the data is loaded. Moreover, it results in advanced reporting and risk management.
Hyperledger Fabric is the most prominent framework that offers various features to the enterprises. Hence, it is one of the best blockchain enterprise solutions. This project is going to produce a number of advanced blockchain-based applications.
I hope this blog could give you neat and clear info on Hyperledger Fabric. If you want to give any feedback or suggestion, please comment in the comment box.
Hyperledger Fabric- The Most Popular Hyperledger Framework was originally published in Hacker Noon on Medium, where people are continuing the conversation by highlighting and responding to this story.