Hyperledger is a community that aims at developing systems based on blockchain, that are open source and are stable with their frameworks, libraries and tools. It consists of various distributed ledger frameworks. It defines modular architecture bringing high grade stability, reliability, security, flexibility and confidentiality and transparency for the systems that it is implemented on.
Established by linux foundation in 2015, it was built for the advancement in blockchain technology across all the industries.As it is a community, it focuses on encouraging a collaborative approach for developing blockchain technologies with open source standards. It supports the implementation of different complex components existing in the ecosystem.
Hyperledger fabric is one of the major frameworks of the hyperledger platform of blockchain technology.It uses smart contracts similar to other blockchain systems, through which the participants send consensus for the trigger of actions and while updating the blocks on the blockchain. The hyperledger fabric is private and permissioned in nature. That makes it different from others in the blockchain system.
Unlike permissionless blockchain networks, it doesn’t risk any unknown identities’ participation in the execution.
All the members of the hyperledger fabric network enrol through a trusted service provider called Membership Service Provider(MSP).
Various MSPs are supportive of hyperledger fabric and it offers various pluggable options. Ledger data can be stored in multiple formats through hyperledger fabric.
Easy to understand and begin with
Smart contract Programs can be coded in multiple languages instead of going for other custom languages and architectures, making it easier to work with.
Permissioned and private
A decentralized private network is always better than the public network with no or fake identity. Hyperledger creates a network that is permissioned and private and participants can be added only with authentic identification.
Only authentic peers get access to the data and not everyone can access it without permission. This maintains confidentiality at the highest level.
A one-size-fits-all approach is not always feasible. Hyperledger has multiple pluggable options that are used as per customization, ensuring customer engagement models run successfully.
Hyperledger aims at building technical communities of blockchain by providing neutral, open-source, customizable, community driven infrastructure.
All the d-apps are built onto various platforms of the blockchain to be suitable for the industry they are built for and hence are customizable. These customized models are essentially possible as the d-apps are open source applications.
Hyperledger smart contracts
Hyperledger focuses on open source and open governance( decentralized) blockchain systems, with innovative and beneficial capabilities across all the sectors and industries.
Smart contracts are the programmable code that triggers an action when the consensus is given by all the peers of the network.
Hyperledger fabric smart contracts are different in a way, that they are written in chain code. This code is initiated by an external application , whenever it wants to interact with the blockchain ledger or wishes to add another block on the blockchain. Majorly chaincode interacts with the back-end compamonet, the database of the blockchain ledger and not the log of transactions happening.
Chain code can be developed in multiple programming languages hence it’s easier to start with implementing hyperledger for the blockchain system.
The hyperledger defines a strong capability to build the non-monetary , highly scalable and stable applications of blockchain, unlike most other blockchain platforms that aim at cryptocurrencies and token. It definitely avoids a lot of political challenges of maintaining globally consistent currency. Also, as it’s easier to work with, a lot of organisations are coming forward to work on hyperledger platforms to implement blockchain technology for their domain of service or product.