Hyperledger is an open source project that was created to advance blockchain technologies. It is hosted by the Linux Foundation and is a global collaboration that includes leaders in banking, supply chains, manufacturing, finance, IoT, and technology.
Hyperledger launched in 2016 with 30 corporate members and an organisational governance structure. Hyperledger remains the fastest growing project of all the organisations the Linux Foundation has launched.
The project shouldn’t be thought of as a company, blockchain, or cryptocurrency. Instead, think of it as an operating system for marketplaces, micro-currencies, and decentralised digital communities across the globe. Hyperledger is an umbrella project that is supported by large companies such as IBM and Intel.
The Hyperledger community is centred around the development and deployment of open, reliable, and transparent enterprise blockchains. It is about software developers working together to build blockchain platforms and frameworks. The project ultimately has the potential to enormously reduce the costs and complexity of getting things done using blockchain technology.
Hyperledger Fabric (Hyperledger IBM)
IBM chose Hyperledger Fabric as the foundation for its IBM Blockchain Platform, and the company is working on building an open source blockchain protocol. This protocol will allow businesses to start their blockchain journeys with confidence and guidance.
Hyperledger Fabric offers a unique approach to consensus, enabling performance on a higher scale whilst preserving privacy. This enables IBM to deliver an interoperable network of networks. It uses open source and open governance to provide innovative capabilities that are hardened for use by businesses.
Fabric is one of the most interesting Hyperledger projects. It is a base for the development of many blockchain-based solutions and incorporates a modular architecture. Hyperledger Fabric allows different components of blockchain technology to become plug-and-play. This means that enterprises can put together their own unique blockchain network that is able to scale to more than 1,000 transactions per second.
For IBM, Fabric presents a flagship project for blockchain development. The IT company uses Hyperledger Fabric for a range of its own projects and with a large number of its business partners.
Hyperledger is a permissioned system, meaning unlike other blockchains, Hyperledger can be set up to only show data and information to the user who has access to it. This allows for privacy and trust between companies.
The project also runs chaincode, meaning users can put whichever and whatever business logic they like into their smart contracts. It is also incredibly fast compared to other blockchains.
Hyperledger Fabric allows companies to get started with blockchain quickly and easy. It lets companies program smart contracts in the language the team works in. This avoids users having to learn custom languages and architectures which in turn speeds up workflows.
Many blockchain projects use cryptocurrencies and tokens as their main focus. However, the projects surrounding Hyperledger have the potential to create a backbone of highly-scalable industrial applications. With strong concepts and thought leaders, Hyperledger is a strong project with a bright future.
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