What is Hyperledger? – An Industrial Approach To Blockchain
“Hyperledger” is an open-sourced community that benefits an ecosystem of Hyperledger-based solution providers and users. It focuses on blockchain-related use cases that will work across many industrial sectors. – Brian Behlendorf Executive Director of Hyperledger.
If this doesn’t make sense, don’t worry. I’ll be explaining all things Hyperledger here.These are the topics I’ll be covering:
This recording may be viewed by you. Our training expert has outlined the topics in detail with many examples to help you better understand them.
Let me first tell you about Hyperledger.It’s easy to get lost among the many blockchain platforms in the IT industry.Hyperledger, however, is not:
Hyperledger is an umbrella project under the Linux Foundation.NodeJs and Alljoyn are examples of projects that have adopted “Linux Way”, which is i.e.To create a community of developers working on open-source projects and maintain a cycle in which a piece is continually being modified and redistributed.
Linux Family: What is Hyperledger?
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Hyperledger’s ethos is to have multiple private markets and private chains around the world.Every business is unique, so applications that serve these businesses should be built using personal rules.This is in contrast to ethereum, which forces developers to create their applications using general protocols.
In late 2015, a few developers started the Hyperledger project.The developers were from different sectors such as data science, manufacturing and banking, but they all had one goal: to make Hyperledger a reality.To make blockchain technology more accessible for developers and other industries.The project started with testing interactions between applications and secure Blockchain networks.
The developers who were involved in the testing discovered that blockchain networks, in which every peer must validate every transaction and run consensus simultaneously, suffer a significant loss in terms of scaleability.Due to the extensive measures taken to protect the integrity of transactions, transactions that have some confidentiality or privacy cannot be executed on public Blockchains.
Public blockchain restrictions – What is Hyperledger?
Imagine Bob living in India and wanting to buy chocolates from Alice, Switzerland.Alice offers Bob her chocolates at a generous discount because they are old friends.Alice has to sell her products to many markets, and they still need to purchase from her at the standard rates.To get the product from Alice and Bob, many third parties will be required.
Alice’s Markets- What is Hyperledger?
These third parties might be required to verify additional aspects of the product, such as logistics verification, quality assurance, payment verification, and many other things.They don’t need to know anything about the deal between Bob (and Alice).Every ledger on a public blockchain network will be updated with the details of the deal as miners add transactions and validate the transaction.
Confidential and Private Contracts – What’s Hyperledger?
What is Hyperledger?
It’s quite different on a Hyperledger-based network.Only the ledgers of the deal’s peers are updated.The network grants permissions and regulations to third parties that help with the transaction.
Let’s say Alice and Bob executed their transaction on a Hyperledger-based network. Alice would then look up Bob via an app that queries for a membership service.Once the membership is validated, both peers can be connected and results generated.To validate this two-party agreement both results must be identical.For transactions with multiple parties you can apply more rules.These transactions are then sent to a consensus cloud to be ordered, and they are then committed to their respective ledgers.
Hyperledger’s modular architecture makes it possible to make properties such as consensus plug-and-play.The most significant changes in this architecture are made to the network’s peers.The peer network has been split into three roles and two runtimes.
Architectural changes – What’s Hyperledger?
Committer These peers only validate transactions that have been returned from the consensus mechanism back to their respective ledgers.On networks that have fewer restrictions, Committer nodes may act as Endorsers.This condition can be avoided if there are more restrictions.
Endorser : These nodes simulate transactions specific to their network and prevent unreliable and non-deterministic transactions.Depending on network restrictions, committers can or may not be endorsers. However, all endorsers are committers
ConsentsThese nodes manage the network’s consensus.They operate on a different time-frame than endorsers or committers, which both run on the same time-frame.Consenters are responsible to validate transactions and decide which ledger transaction should be committed.
If you recall, I mentioned Hyperledger as an umbrella project.Hyperledger is an umbrella project that includes many projects.These projects include:
Hyperledger Fabric extensively used in supply-chain networks
Hyperledger Sawtooth , can be used by the fishing industry to track the fish’s journey
Hyperledger Borrow, that is used to run Ethereum smart contract in a Hyperledger Network
Hyperledger Iroha is used in mobile app optimization with the aid of blockchain
HyperledgerIndy, can be used to provide a decentralized identity service for businesses.
We now know the basics of Hyperledger and why it is important in today’s IT industry. Let us also compare Hyperledger with Ethereum and Bitcoin.
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Evidence of Work (SHA26).
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After I explain Hyperledger, I hope that you enjoyed my blog.
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