Today's business peoples are increasingly interested in the latest blockchain technology due to its promise of enhanced efficiency and cost reduction. Yet, they can’t use the approval-less public blockchains because of lack of privacy, low scalability, and low transaction throughput.
Most of the businesses need enterprise blockchains, and Hyperledger Fabric is progressively looking like the best option for them.
In this article, We explain What is Hyperledger Fabric? & Why Hyperledger Fabric for blockchain is important to your business and how to build your own Hyperledger fabric application?.
Let's start!
Table of Contents:
- What is Hyperledger Fabric?
- Why Hyperledger Fabric for blockchain?
- How Applications Interact with the Network?
- Benefits of Hyperledger Fabric
- How to build Hyperledger Fabric Application?
What is Hyperledger Fabric?
In Simple terms:
- Hyperledger Fabric is now generally used for the implementation of blockchain technology as a foundation for developing other blockchain solutions or applications
Key technical features:
- A shared ledger and smart contracts implemented as “chain code”
- Privacy and permissions through membership services
- Modular architecture and flexible hosting options
It‘s the latest platform used to build enterprise blockchains. It‘s one of the most important projects developed by the Hyperledger Consortium. The consortium is the development of enterprise blockchains.
Linux Foundation leads this foundation, which was launched in 2016 and counts multiple prestigious companies among its members. A few of the members are IBM, Intel, CISCO, SAP, Daimler, American Express & more...
High-level objectives of the Hyperledger Consortium are the following:
- Create open-source business enterprise-scale blockchain framework with strong code bases.
- Advance an open, community-based infrastructure with technical and business authority models.
- Business organize technical communities for trials and use cases.
- Educate those communities about business enterprise blockchains;
- Develop an enterprise blockchain ecosystem.
Hyperledger Fabric, also called ’Fabric‘, is an open source framework to implement permission blockchains(Private blockchain). Digital Asset and IBM were the two companies that built the starting version of Fabric.
Benefits of Hyperledger Fabric:
Now You can build your business enterprise blockchain project using Fabric, where you can benefit from the following features:
- Plug-n-play facility to integrate components like as consensus algorithm and membership services,
- Smart contracts called ’chaincodes‘, which are hosted using the container technology,
- Channel technology for confidential online transactions;
- Ordering service that delivers transaction to ’P2P‘, i.e. a bunch of nodes responsible for executing the transactions in the ledger,
- Approval policy for transaction validation,
- Database services & More...
If you are interested in learning more about Hyperledger Fabric’s transactional flow mechanics,