Surely everyone has heard the words Ethereum and Bitcoin. By being part of the world of the blockchain, they have captured the world’s attention through wide media coverage. Overall, blockchain technology has gained business interest due to its decentralized, unchanging, and transparent nature. Other outstanding projects that have emerged in recent years include Hyperledger.
What is Hyperledger?
Hyperledger is an open source project of blockchains and related tools hosted by the Linux Foundation. It was created in 2015 and aimed to advance inter-industry blockchain technologies. Hyperledger does not support cryptocurrencies and does not represent a cryptocurrency network or a traditional blockchain system.
So what is Hyperledger for? The project is intended to facilitate developers and companies working on blockchain adoption. It provides the standards and infrastructure needed to develop and implement blockchain solutions in various industries.
Hyperledger structure in depth
The Hyperledger project can be visualized as a house with open source development tools and libraries as a foundation and modular frameworks just under the roof.
One of the widely used digital books is called Hyperledger Fabric. It is an authorized blockchain infrastructure that serves as a basis for building applications or solutions with a modular architecture.
Hyperledger Besu is an Ethereum client designed for corporate use for public and private use cases of authorized networks. The following Hyperledger Burrow framework works with smart contracts and represents a complete single binary blockchain distribution that supports EVM and WASM.
Hyperledger Indy can operate autonomously or even interoperate with other blockchains. Indy was developed precisely for decentralized identities. An easier-to-use modular distributed platform is called Hyperledger Iroha. The framework contains a feature-based permission model and multi-signature support. Iroha is designed for digital asset management systems and is used to manage identity and serialized data. As part of a Hyperledger system, there is also no presence of cryptocurrencies.
The Hyperledger Sawtooth digital book offers a modular architecture where smart contracts can specify business rules for applications without having to know the underlying system design. Sawtooth uses the Python programming language and simplifies the deployment and maintenance of the final software.
Hyperregister applications compared to other corporate solutions
Let’s look at the differences between traditional web portals and blockchain-based solutions. The former lack speed, security, and traceability, while blockchain offers high transaction speed and enhanced security provided by smart contracts and encryption. As for Hyperledger dApps, in particular, they stand out for their ability to handle complex business processes in a matter of hours.
When it comes to unauthorized blockchain solutions and authorized Hyperledger applications, there are several important differences. Unauthorized blockchain solutions involve zero regulation, allow anonymous cryptographic identities, and generally represent public systems in a shared ledger. Fake tracking is code-based and transactions are impossible to alter.
Hyperregulation applications are public and private systems where regulators monitor workflows. Participants in hyper-registration applications are real and identifiable, and transaction identities can also be traced.
Together, Hyperledger guarantees tamper-proof data exchange and cryptographic validation of contract terms and operations. A set of tools is rich in platforms and frameworks that can be chosen according to business specifications. In the end, implementing the solution will help consolidate databases, improve performance and scalability, minimize fraud risks, protect sensitive data, and streamline ROI.
Industries ready for Hyperledger adoption
Hyperledger has already entered multiple areas, such as supply chain management, retail, healthcare, FinTech, IoT, banking and manufacturing. Companies that use the technology include Walmart, Amazon, Nestlé, Visa, Maersk, Postal Savings Bank of China and others.
To start your business innovation by adopting Hyperledger, you need to choose a competent Hyperledger development company that will design a customized solution to meet the challenges of your business.