What is Hyperledger in Blockchain?
Hyperledger is an open source collaborative effort created to advance cross-industry blockchain technologies.
It is a global collaboration, led by The Linux Foundation, and advanced by leaders in finance, banking, Internet of Things (IoT), supply chains, manufacturing, and technology.
The Hyperledger initiative is aimed at identifying and addressing important features for a cross-industry open standard for distributed ledgers. Their primary goal is the advancement of cross-industry collaboration to develop distributed ledgers focusing on improving the performance and reliability of the system.
The essence of this is to achieve the goal of using the blockchain to advance global business transactions, especially by tech companies, finance, and supply chain companies. Thus far, the technology has demonstrated that it can be reliable, transparent and tamper-proof.
Hyperledger Frameworks
The Hyperledger framework entails the integration of independent open protocols and user-specific modules, which includes blockchains’ functionality, storage system, identity service, smart contracts, and access control.
- Hyperledger Fabric: This framework is built around the idea of a permissioned blockchain infrastructure. The idea was originally developed by IBM and Digital Asset. It is a platform for distributed ledger solutions, underpinned by a modular architecture that delivers high degrees of confidentiality, resiliency, flexibility and scalability. Hyperledger Fabric was designed to support pluggable implementations of different components, and accommodate the complexities and intricacies of permissioned blockchains. It assigns nodes with specific roles as the execution of smart contracts known as chaincode and a configuration of membership services and consensus.
- Hyperledger Sawtooth: The Sawtooth is also a framework of Hyperledger, which is Intel’s original idea. Sawtooth is modular and can be customized to meet the needs of a specific application or use case. It includes a novel consensus algorithm, Proof of Elapsed Time (PoET), which targets large distributed validator populations with minimal resource consumption, and supports Ethereum smart contracts through its transaction processor called Seth.
- Hyperledger Besu: This is an enterprise-grade Ethereum client developed under the Apache 2.0 license. It is written in Java and designed to be modular, extensible, and easy to integrate with other software systems. Besu supports both permissioned and public networks, as well as private transactions.
Hyperledger Tools
The Hyperledger project has five tools at its disposal.
These are:
- Hyperledger Caliper: It enables users to have an idea of the performance of a specific blockchain by implementing certain use cases. It is a tool for measuring the performance of various blockchain implementations on the blockchain.
- Hyperledger Cello: This tool aims to bring the on-demand “as-a-service” to the blockchain ecosystem to reduce the effort required to manage, create, and terminating blockchains.
- Hyperledger Composer: The tool simplifies and ensures speed for developers and business persons. It also enables them to create smart contracts and blockchain applications to solve business problems.
- Hyperledger Explorer: This tool is responsible for the user-friendly design interface on Web applications.
- Hyperledger Quilt: This is a business tool aimed at offering interoperability between ledger systems in a bid to implement the InterLedger protocol (ILP), which is the primary payments protocol designed to transfer value across distributed ledgers and non-distributed ledgers.
