Hyperledger Fabric: The Global Leader in Enterprise DLT
The Hyperledger project, which is open-source, is the global leader in enterprise-grade distributed ledger solutions.
Hyperledger is a Linux Foundation-led collaborative effort that develops enterprise-focused distributed ledger technology and makes open-source tools, frameworks, and code libraries available to its more than 200 members. Hyperledger Fabric, the company’s most well-known project, has been used in food traceability, commerce, and shipping applications.
Hyperledger is a collaborative open-source project that provides a framework, tools, and code libraries for enterprise blockchains and distributed ledger technologies (DLT).
The Linux Foundation, which has been a leader in open source technology for thirty years, hosts the Hyperledger blockchain project, which is supported by IBM and Intel.
Hyperledger was founded in 2016 and already includes over 200 members from a range of industries throughout the world, including financial services, healthcare, supply chains, manufacturing, and technology. Walmart, Visa, FedEx, Huawei, Aetna, and Telefonica are among the notable members.
Hyperledger’s initiatives comprise a number of permissioned distributed ledger technology (DLT) platforms.
Unlike the public, highly decentralized blockchains like Ethereum and Bitcoin, DLT platforms restrict access to and participation in the network to only approved parties. Permissioned DLTs can be private — governed by a single entity — or public — owned by a consortium of multiple entities.
Large-scale businesses who want to reap the benefits of blockchain-like architecture while keeping certain information private for regulatory or competitive reasons often employ private and consortium DLTs.
Despite the fact that Hyperledger networks are permissioned blockchains, anyone can contribute to or become maintenance of the software and thus participate in the Hyperledger project as a whole.
The Technical Steering Committee, which is made up of community-elected developers, makes technical choices like adding new functionality to distributed ledgers. The Hyperledger Governing Board, which is made up of delegates elected by project members, makes decisions about how funds earned by Hyperledger are used, as well as business and marketing matters.
Hyperledger Fabric, a permissioned, enterprise-grade DLT platform designed for a range of use cases, is Hyperledger’s most well-known offering.
The fabric’s architecture is highly modular, with “plug and play” components such as consensus management and membership services that may be tailored to specific use cases. Private transactions and smart contracts are written in general-purpose programming languages like Java, Go, and Node.js, as well as support for the Ethereum Virtual Machine, are among its other features.
Participants in Hyperledger Fabric networks are all familiar with one another, lowering the possibility of hostile behavior and hacking.
Hyperledger Fabric Use Cases
Hyperledger Fabric has already fulfilled a number of spectacular use cases thanks to strong enterprise blockchain support and a global open-source development push. Perhaps most famously, Hyperledger Fabric is the foundation for IBM’s Blockchain Platform, which Walmart used to create a food traceability system in 2018.
Food items are tracked throughout the Walmart supply chain, allowing outbreaks of diseases like E.Coli to be rapidly tracked back to producers and linked food items to be pulled from the shelves. In tests, the method cut the time it took to trace the origins of mangoes in the United States from seven days to 2.2 seconds.
In 2018, IBM teamed together with global shipping behemoth Maersk to develop a worldwide trade digitization platform based on Hyperledger Fabric.
The project uses blockchain technology to track the status of papers such as bills of lading and customs forms, aiming to minimize the time it takes for shipments to pass inspections. In addition, Honeywell, the aerospace company, established an online aviation parts marketplace using Hyperledger Fabric in 2020.
Buyers can browse ads and purchase things on the marketplace, with all transactions recorded on the blockchain.
The Hyperledger Suite
While Fabric is the most widely used Hyperledger blockchain product, the project also includes a variety of other platforms with niche applications. Hyperledger DLTs that aren’t Hyperledger include:
- Hyperledger Besu: designed specifically for use in consortia
- Hyperledger Burrow: designed for permissioned Proof-of-Stake use cases, along with private and consortium usage
- Hyperledger Indy: designed for digital identity use cases and to facilitate interoperability Hyperledger Iroha: designed for infrastructural or Internet of Things (IoT) applications Hyperledger Sawtooth: designed to operate with a variety of consensus algorithms
While public blockchains with cryptocurrencies like Bitcoin and Ethereum are an important part of the decentralized technology’s evolution and application, DLT platforms and enterprise blockchain-focused technology like Hyperledger are equally important.
The groundbreaking Hyperledger initiative brings together some of the world’s most important companies and a global community of open-source developers to develop decentralized solutions that complement the rapidly expanding blockchain industry.
Hyperledger has supplied the technology for a wide range of use cases and continues to generate creative business solutions because of its open governance and community-driven designs.