An Introduction to Hyperledger

Most of the DeFi platforms like bitcoin, ethereum, etc. run on the blockchain techniques based on the generalized protocol for everything that runs on their platform. Usually, these blockchain techniques are particularly designed to serve their native platform. But, have you wondered, what if there exists a collaborative blockchain that serves multiple platforms? Well, the answer is ‘yes’, there is one such platform called “Hyperledger”. Now let’s learn more about it.

What Is Hyperledger?

“Hyperledger” is an open-source project hosted by Linux to enable the advancement of cross-industry blockchain technologies by leading the collaborative efforts made by various DeFi platforms.

It is also an open-source platform (or software) for those who want to establish their own, personalized blockchain service by providing the necessary tools, models, structures, etc. to build their open-source blockchains. It acts as a platform for the new enterprises who wish to provide services through their personalized blockchain.

Understanding Hyperledger

Hyper ledger was introduced to enforce a global enterprise blockchain project across various industries. It includes leading members from various sectors like finance, banking, the internet of things (IoT), supply chains, etc.

It works on distributed ledger technology that could be used to enhance efficiency and performance by developing a high-performance and reliable blockchain.

Unlike any other DeFi platform, where every transaction is displayed in the public ledger, on Hyperledger only the parties directly associated with the deal get notified which helps them to maintain privacy and confidentiality.

How Hyperledger Fabric Works

Hyperledger Fabric is one of the popular frameworks used for building a blockchain. It is a highly modular blockchain that acts as a base for the development of various blockchain-based applications. Unlike other blockchain-based DeFi platforms which merely store data as a ledger, hyper ledger provides you the authority to create and control the functioning of your blockchain or build your personal DApp. It is a personal enterprise built on Distributed Ledger Technology (DLT) which requires permission to access.

Benefits of Hyperledger Fabric

• Allows you to create personal blockchain-based software or DApp.
• Helps to maintain privacy on the DeFi platform. Especially helpful for those who don’t want to share their data. It is done by segregating the data on the ledger.
• Enables to study the methods of other DeFi platforms present on each different node.
• It eliminates the cost and requirement of a complex mining process.
• Provides Consensus algorithms to eliminate malicious activities.
• Enables the creation of subnets, called channels, to keep the transactions and deals within the end-users.
• Nobody can be part of a private network unless you are a Membership Service Provider (MSP).
• Allows you to maintain smart contracts using Chaincode.

Final Thoughts

If you want your functional blockchain and yet be a part of a collaborative network, Hyperledger is the apt solution for you. Also, since the Hyperledger works on collaborative efforts of different Crypto-based platforms, it can be rightly said that the ‘Hyperledger is the ledger of ledgers. We are at Kointrack, making blockchain technology accessible to people.