Tech enthusiasts are no stranger to blockchain technology. Taking the cryptocurrency and the tech world by the storm, blockchain is soon emerging as an alternative form of data storage and transfer with its utility being recognized in multiple fields.
In order to further this blockchain development initiative, the Linux Foundation, supported by tech giants such as IBM, Intel and SAP Ariba formed the Hyperledger.
Organizations willing to invest in a Hyperledger Development Company should first get acquainted with Hyperledger Development Services along with all its frameworks and tools.
So, what exactly is Hyperledger?
Hyperledger, hosted by the Linux Foundation is one of world’s first open-source collaborative projects for blockchain development. It was created with the aim to create more secure, reliable and transparent transactional applications through cross-industry blockchain development.
It began with 30 corporate founding members with a focus on multiple aspects such as manufacturing, healthcare, finance, IoT, supply chain management, etc.
Following are the features of Hyperledger:
– Complete with APIs
– Enabled Smart Contracts
Hyperledger has the largest community of blockchain developers. Hyperledger can be used to create data-sharing networks, develop custom projects based on cryptocurrency development, healthcare, supply change management solutions, etc.
Apart from this, coders and blockchain developers can also contribute to current tools and frameworks, i.e. for the on-going Hyperledger Development projects or contribute to the Hyperledger learning resources to create better reference materials.
All of this can be accomplished through the online platform of Hyperledger. The codes developed on the platform can also be accessed through Github.
Hyperledger has a plethora of on-going projects under its wing. These projects are divided into Hyperledger tools and Hyperledger Frameworks.
Currently, there are 6 Hyperledger Frameworks out of which three, namely Hyperledger Fabric, Hyperledger Sawtooth and Hyperledger Iroha are in active status. There are: The rest are still at the incubation stage. Here’s an insight into these frameworks:
A product of a hackathon, Hyperledger Fabric is a digital ledger (DLT) and a smart contract engine contributed by IBM along with Digital Asset. The framework is meant to create ledgers based on a modular architecture. Hyperledger Fabric developer community is one of the most diverse and skilled communities out there. Hyperledger Fabric development consists of building solutions to create secure, more reliable, modular blockchain solutions with practical implementations including supply chain management systems for Walmart, financial services management for WeTrade, etc. It is a private blockchain with no cryptocurrency which can only be accessed by its members through pre-given permission.
This is one of the most recent frameworks to earn an active status. It is a modular platform for creating, deploying and distributing DLTs. Due to its novel consensus algorithm, Proof of Elapsed Time (PoET), it is very easy to track the transactions in terms of where and when did these transactions occur. Hence, Hyperledger Sawtooth development is highly useful in creating trade-related solutions such as asset management tools, supply chain management systems, etc. These solutions keep track of manufacturing, packaging and distribution of products, hence eliminating errors.
Hyperledger Iroha is also a utility library along with a DLT and a smart engine contract. Hosted by the Linux Foundation, Iroha makes up for a really easy to use platform for modular blockchain distribution. Written in C+, Iroha’s accounts can be manipulated using only a set of fast commands and queries making it a really utile solution for multi-signature transactions.
Hyperledger Burrow is a smart contract application machine accessible through permission. It is built with the intention to provide a smart contract interpretation solution to blockchain clients. It is created with the specifications of the Ethereum Virtual Machine (EVM). Still in the incubation stage, Burrow can be really helpful in turning documents such as loan applications or business contracts into smart contracts.
Another project in its early incubation stage, Hyperledger Grid is an initiative to develop a framework focused on supply chain solutions. Supply chain management is considered to be one of the most complicated problem areas of blockchain technology. Hence, this solution is being built keeping in mind only supply chain-centric problems, data models, smart contracts and more.
Hyperledger Indy is a DLT and a utility library built with the purpose to optimize the decentralized identity of blockchain. Blockchain is immutable and decentralized, one of its most preferred attributes. Since DLTs cannot be altered and every transaction is recorded, it is essential that the identities created are trustworthy, secure and reliable. Indy is meant to maximize interoperability of blockchain by streamlining this system.
Along with six frameworks, here are the six Hyperledger tools in development:
Hyperledger Caliper is basically a performance management tool for blockchain meant for internal usage. It helps developers generate performance reports based on pre-defined use cases such as transaction speed, transaction latency, resource utilization, etc.
Creating, building and terminating blockchains for smaller purposes can be tedious. Hence, Hyperledger Cello was created as an on-demand service platform to create multi-tenant service platforms along with infrastructures such as baremetal, virtual machines, etc.
Hyperledger Composer is a collaborative tool meant for business to create smart and quick business development solutions. It helps developers create smart contracts and other solutions to solve crucial business problems and fulfil the necessary requirements.
Hyperledger Explorer is a blockchain module that makes it really easy for developers to find the solutions that they are looking for. With this tool, one can search, invoke, deploy or query any specific block as well as important information related to the block such as transaction families, list of nodes, chain codes, etc.
Hyperledger Quilt is a business blockchain tool that facilitated interoperability between ledger systems. Values are transferred across ledger using an Interledger Protocol (ILP) which is basically a payment protocol. This helps in easy transfer of data from one ledger to the other.
Hyperledger Ursa was built with the intention of curbing duplication and maximizing security when it comes to the development of cryptographic solutions. It is a shared library of all cryptography related projects that developers can refer to before beginning to work on their own.
From security in decentralization, maximizing interoperability to simplifying blockchain research and development, the Hyperledger Project is a really helpful concept in blockchain development.
The future of Hyperledger Development seems full of possibilities with a range of frameworks and tools being developed to optimize blockchain development. The possibility to innovate is endless.
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