What is Hyperledger Fabric?| Hyperledger Fabric in Blockchain


What is Hyperledger Fabric?
What is Hyperledger Fabric?
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What is Hyperledger Fabric?

What is Hyperledger Fabric?Hyperledger Fabric is one of the open-source blockchains and related tools of an umbrella project Hyperleger. The project was launched in 2016 by the Linux Foundation in collaboration with such giants as IBM, SWIFT, ConsenSys, Guardtime, Calastone, VMware, Blockchain, R3, Cisco, Hitachi, Intel, J.P. Morgan, and others.

Hyperledger Fabric is a platform helping businesses and enterprises to adopt blockchain technology. It was first released in 2016 and has had several updates since then. The platform provides all vital tools (e.g. type of consensus and membership services) to build a permissioned blockchain network with a high level of efficiency and security. In contrast to other blockchain platforms, Hyperledger Fabric is designed specifically for enterprise needs and doesn’t involve any cryptocurrency.

What is the difference between permissioned and permissionless blockchain?

The difference is implied in the names themselves. Permissionless or public blockchain is open to everyone and doesn’t demand permission to join the network. Permissionless blockchain doesn’t have any authorities controlling it, thus all members are equal. 

Permissioned blockchain is also called private because only approved members can participate. 

Businesses choose permissioned blockchains because they are more secure and trustworthy, in addition to a higher speed of transactions. 

What is Hyperledger Fabric?
What is Hyperledger Fabric?

What is Hyperledger Fabric?

How is Hyperledger Fabric useful for enterprises? 

As Hyperledger Fabric was designed to make the blockchain transition much easier for businesses, there is a set of beneficial features:

  • Modularity 
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Due to modular architecture, Hyperledger Fabric separates transaction workflow into three stages, which results in better performance, increased scalability, and fewer verification procedures. Also, the platform supports plug-and-play of various components eliminating the need for creating new modules for repetitive operations (e.g. identity verification). 

  • Speed

Being a permissioned platform, Hyperledger Fabric processes over 3,500 tps which is vital for companies with a massive load of financial operations.

  • Privacy

Hyperledger Fabric allows creating private channels for specific network members who have access to confidential data. Unauthorized members are not allowed. 

  • Security

A tool called Hardware Security Model protects keys, digital signatures, and confidential data. HSM is also used for identity management. 

  • Smart contracts

Smart contracts developed by companies (often referred to as chaincodes) are domain-specific programs, which help members to automate transactions, thus making the network a more secure place, and eliminating costs of contracting.

Why are smart contracts useful?

Hyperledger Fabric smart contracts is an impactful tool with such advantages as:

  • No need for intermediaries

All information about the users and transactions is stored on a ledger and is immutable. If the members are not acquainted, they can still trust each other based on the verified data.

  • Suitable for lots of industries

Many fields from banking and insurance to healthcare have already proved the benefits of smart contracts to their workflow.

How to make smart contracts?

To successfully make smart contracts a couple of steps should be followed:

  1. Start the network.

Create a channel with channel-members.

  1. Set up Logspout.

This step can be omitted, but shouldn’t because it is very useful and informative when an administrator can view the aggregated output from a single window. 

  1. Package the smart contracts.
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Hyperledger Fabric smart contracts are to go through a package procedure including code and other meta properties (e.g. name and version) definition. The packaging procedure differs depending on the language the smart contract is written in (e.g. Go, JavaScript, Typescript).

  1. Package signing

Smart contracts obtain a signature to establish ownership and allow detection of package tampering. 

  1. Install the chaincode package.

The chaincode is to be installed on every peer that will sanction transactions.

  1. Approve the chaincode.

By default, a majority of channel members need to approve a chaincode for it to be used on a channel. When approved, the smart contract can be used in transactions. 

So, it seems that how to make a smart contract is not a big deal, but it’s approval by the channel-members is crucial. 

Is Hyperledger Fabric helping enterprises?

Summing everything up, it looks like blockchain is the next step to ensure effective and robust business transactions. With the help of Hyperledger Fabric and, specifically, Hyperledger Fabric smart contracts, the adoption of blockchain by enterprises goes much more smoothly. Not to forget well-versed smart contract development companies assisting with the implementation of chaincodes. 


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