Probably everyone has heard the words Ethereum and Bitcoin. As part of the blockchain world, they have attracted worldwide attention through extensive media coverage. Typically, blockchain technology has gained business interest due to decentralization, consistency, and transparency. Among other noteworthy projects that have emerged in recent years – Hyperledger.
What is Hyperledger?
Hyperledger is a project of blockchains and related open source tools hosted by the Linux Foundation. It was established in 2015 and aims to promote cross-industry blockchain technologies. Hyperledger does not support cryptocurrencies and is not a network of cryptocurrencies or a traditional blockchain system.
So what do you need a Hyperledger for? The project aims to facilitate developers, and businesses are working to adopt a blockchain. It provides the necessary standards and infrastructure to develop and implement blockchain solutions in a variety of industries.
The depth of the Hyperledge structure
The Hyperledger project can be imagined as a home with open source development tools and libraries as a basis, as well as a modular framework under the very roof.
One of the widely used digital registries is called Hyperledger Fabric. It is the allowed blockchain infrastructure that serves as the basis for building applications or solutions with a modular architecture.
Hyperledger Besu is an Ethereum client designed for corporate use for both public and private permitted networks. The following Hyperledger Burrow framework runs on smart contracts and is a complete dynamic blockchain that supports EVM and WASM.
Hyperledger Indy can run standalone or even interact with other blockchains. Indy was designed specifically for a decentralized identity. Another easy-to-use modular distributed platform is called the Hyperledger Iroha. The structure contains a role-based permission model and support for multiple signatures. Iroha is designed for digital asset management systems and is used to manage identification and serialized data. As part of the Hyperledger system, there is also no cryptocurrency.
The Hyperledger Sawtooth digital book offers a modular architecture in which smart contracts can define the rules of doing business for applications without knowing the basic design of the system. Sawtooth uses the Python programming language, and it simplifies the deployment 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 lacks speed, security and traceability, while the blockchain offers high transaction speeds and enhanced security with smart contracts and encryption. As for dApps Hyperledger, they stand out with the ability to handle complex business processes in a matter of hours.
When it comes to unauthorized blockchain solutions and allowed Hyperledger programs, there are a few major differences. Invalid blockchain solutions mean zero regulation, allow anonymous cryptographic identities, and typically represent public systems in a shared book. Counterfeit tracking is code-based, and operations cannot be changed.
Hyperledger applications are both public and private systems where workflows are controlled by regulators. Participants of Hyperledger applications are real and identifiable, transaction identifications can also be tracked.
In general, Hyperledger guarantees unauthorized data exchange and cryptographic verification of contract terms. The toolkit is rich in platforms and platforms that can be selected according to business specifications. Ultimately, implementing the solution will help consolidate databases, increase productivity and scalability, minimize fraud risks, protect sensitive data, and streamline return on investment.
Industries ready to adopt Hyperledger
Hyperledge has already entered several areas such as supply chain management, retail, healthcare, fintech, IoT, banking and manufacturing. Among the companies using the technology are Walmart, Amazon, Nestle, Visa, Maersk, China Post Savings Bank and others.
To start innovating in the enterprise through the adoption of Hyperledger, you need to choose a competent company to develop Hyperledger, which will develop an individual solution to solve your business problems.