Introduction to Hyperledger
Hyperledger (also known as Hyperledger project) is a kind of hub that is generally used for the purpose of developing and upgrading industrial blockchain-related technologies and it is also regarded as a global corporation that is hosted by the leaders in banking, finance, manufacturing, supply chains, technology and Linux foundation as well.
Projects of Hyperledger
It was started by the Linux Foundation in the year 2015. Linux foundation was formed with a group of members belonging to different industries along with a group of developers for fulfilling the application needs. The very first member of the project was IBM. Now the project has an active structure, at least 200 members, and 7 other projects aligned under development. It offers structures like fabric, Indy, Iroha, Sawtooth, and Burrow. The main purpose behind initiating hyperledger projects is to design an inter-industry platform for developing projects that are blockchain-based and enabling them in speeding up the experimentation process.
Hyperledger sawtooth is developed by Intel. It is a modular blockchain suite that is developed with the help of the latest consensus algorithm, also known as PoeT (Proof of Elapsed Time). This is designed for use in many fields like IoT, financials and what not. Sawtooth Lake has been written in Python and it supports not just permission but permission fewer applications and deployments as well.
Sawtooth Lake has brought about multiple innovations. Building and propagating transactions are one of the innovations led by Sawtooth Lake. In this process, a client develops transactions and accordingly submits the same to the vendors. Sawtooth has been tested in multiple applications. It has also been tested for the purpose of recording the journey of vegetables from the farm to the table. It has also been tested for the purpose of streamlining the process for transferring bonds.
It is entirely looked after by IBM. It is designed for the purpose of developing and providing a framework with the help of which companies can integrate their personal blockchain network that will quickly grow up to not less than one thousand transactions per second.
Fabric mostly relies on Chaincode which is a smart contract system that every peer from each network has been running in Docker containers. The fabric even allows companies to develop permissionless blockchain parts. The fabric allows the members to protect the confidentiality of their data by giving them a higher level of privacy as compared to what they could find on a public blockchain.
Business Components of Hyperledger
Following are the business blockchain components are :
- Consensus layer
- Smart contract layer
- Communication layer
- Datastore abstraction
- Crypto abstraction
- Identity services
- Policy services
There are several reasons that support the fact that opting for hyperledger can be a good choice for enterprises. The key concerns that an enterprise prior to the adoption and implementation of blockchain technology are data privacy, confidentiality, efficiency, speed of transactions, b2b focus, alignment with digital transformation, etc. This is why Hyperledger is the perfect choice for all the enterprises since it is backed up by SAP, IBM, etc and supported by big players from the corporate world. It has all the required features of blockchain technology. It has various other features like data confidentiality and it can play multiple elements in the stack that is based on the company-specific requirements. It is the best choice for enterprises since it is designed and developed as per the enterprise’s needs and requirements.
Frameworks of Hyperledgerger
Following are the five frameworks are:
- Hyperledger Fabric: It is used for the development of blockchain solutions or applications that has a modular architecture and it can be used by organizations when they are planning to build their blockchain permissioned network with custom membership services and customized consensus algorithms.
- Hyperledger Sawtooth: It is used for the development, deployment, and continuation of the blockchain network.
- Hyperledger IROHA: It is designed for incorporating blockchain technology into infrastructure-related projects. It is used by enterprises that are in need of a basic, lightweight blockchain framework.
- Hyperledger Burrow: It helps in the execution of smart contract code and can be used by enterprises whose data security and confidentiality are its top priority.
- Hyperledger INDY: It is a type of a distributed ledger that is built for the purpose of decentralizing identity. Hyperledger INDY can be used when the enterprises are willing to develop blockchain networks around revocation, connection contracts, novel payment workflows, curated reputation, asset management, etc.
Following are the list of tools that can be used across multiple hyperledger frameworks for developing blockchain applications:
- Hyperledger Composer: It is an ADF or application development framework that uses the Hyperledger Fabric framework for developing blockchain business networks.
- Hyperledger Cello: It is a type of blockchain module tool that helps scale resources, adjusts chain numbers, checks system status, etc.
- Hyperledger Quilt: It is a type of hyperledger tool that helps in transferring the value across ledgers (both non-profit and distributed) or in other words, across multiple Blockchain networks.
- Hyperledger Explorer: It is a type of hyperledger tool that can be used for the purpose of viewing, invoking, deploying blocks, network information, transactions, and such other relevant information that is stored in the ledger.
Applications of Hyperledger
The application uses the Fabric SDK and accordingly interacts with a blockchain network. The steps followed by an application for submitting a transaction are-
- Selecting an identity from the wallet
- Connecting with a gateway
- Accessing the required network
- Constructing the transaction request for a contract
- Submitting the transaction at the network
- Processing the response
It is also called Hyperledger projects and it is used for upgrading blockchain technologies. Hyperledger Composer, fabric, sawtooth, indy, and hyperledger burrow are five hyperledger frameworks. Linux Foundation initiated hyperledger projects in the year 2015. It’s supported by big players in the market like SAP, IBM, etc. Consensus layer, Smart contract layer, Communication layer, Datastore abstraction, Crypto abstraction, Identity services, Policy services, APIs and Interoperation are the business blockchain components.
This is a guide to Hyperledger. Here we discuss the introduction and business components of hyperledger along with tools and applications. You can also go through our other suggested articles to learn more –