Surely everyone has heard the words Ethereum and Bitcoin. Being part of the blockchain world, they have captured worldwide attention with wide media coverage. In general, blockchain technology has gained business interest due to its decentralized, unchanging and transparent nature. Among other valuable projects that have emerged in recent years is Hyperledger.
What is Hyperledger?
Hyperledger is a blockchain project and related open source 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 aims to make it easier for developers, and companies are working on adopting the blockchain. It provides the necessary standards and infrastructure for the development and implementation of blockchain solutions in various industries.
Hyperledgera depth structure
The Hyperledger project can be visualized as a house with open source development tools and libraries as the foundation and modular frames just below the roof.
One of the widely used digital books is called Hyperledger Fabric. It is a permitted blockchain infrastructure that serves as a foundation for building applications or solutions with a modular architecture.
Hyperledger Besu is an Ethereum client designed for corporate use for both public and private use of permitted networks. The next framework Hyperledger Burrow works on smart contracts and represents a complete single-binary blockchain distribution that supports EVM and WASM.
Hyperledger Indy can work autonomously or even interoperatively with other blockchains. Indy was developed precisely for decentralized identities. Another simple modular distributed platform is called Iroha Hyperledger. The framework contains a role-based permission model and support for multiple signatures. Iroha is adapted for digital asset management systems and is used to manage identity and serialized data. As part of the Hyperledger system, there is also no cryptocurrency presence here.
The Hyperledger Sawtooth digital book offers a modular architecture in which smart contracts can set business rules for applications without having to know the basic design of the system. Sawtooth uses the Python programming language and simplifies the installation and maintenance of the final software.
Hyperledger applications compared to other enterprise solutions
Let’s look at the differences between traditional web portals and blockchain-based solutions. The former lack speed, security, and traceability, while the blockchain offers high-speed transactions and enhanced security provided by smart contracts and encryption. As for Hyperledger dApps, they stand out with the ability to handle complex business processes within hours.
When it comes to unlicensed blockchain solutions and approved Hyperledger applications, there are a few major differences. Blocked solutions without permission imply zero regulation, allow anonymous cryptographic identities, and generally represent public systems on a shared book. Counterfeit tracking is code-based and transactions cannot be modified.
Hyperledge applications are both public and private systems in which workflows are monitored by regulators. Hyperledger app participants are real and identifiable, and transaction identities can also be tracked.
All in all, Hyperledger guarantees data exchange and cryptographic validation of contract and operation terms. The toolkit is rich in platforms and frames that can be selected according to business specifications. Finally, implementing the solution will help consolidate databases, improve performance and scalability, reduce the risk of fraud, protect sensitive data, and streamline ROI.
Industries ready to adopt Hyperledgera
Hyperledger has already entered several spheres, such as supply chain management, retail, healthcare, FinTech, IoT, banking and manufacturing. Among the companies that use the technology are Walmart, Amazon, Nestle, Visa, Maersk, China Postal Savings Bank and others.
To begin your enterprise innovation through the adoption of Hyperledgera, you need to choose a competent Hyperledgera development company that will devise a customized solution to address your business challenges.