Hyperledger is a global enterprise blockchain project that offers a comprehensive framework, standards, guidelines, and tools to build open-source blockchains and related applications for use across various industries. Unlike public blockchains like Bitcoin, Hyperledger supports enterprise-grade, permissioned blockchain platforms where network participants are known and trusted.
Using Hyperledger’s components, businesses can apply modular blockchain solutions that significantly improve operational performance and process efficiency.
Key Insights
- Open-Source Community: Hyperledger is an open-source community focused on developing stable frameworks, tools, and libraries for permissioned blockchain deployments.
- Global Collaboration: Hosted by The Linux Foundation, Hyperledger includes top organizations in finance, IoT, supply chains, technology, and more.
- Diverse Sub-Projects: High-profile projects like Hyperledger Fabric, Sawtooth, Composer, and Cello enhance its versatility.
- Framework, Not Cryptocurrency: Unlike Bitcoin, Hyperledger doesn’t involve cryptocurrencies; it provides blockchain frameworks and tools.
- Multi-Layered Structure: Hyperledger employs layers such as consensus, smart contracts, communication, and API for holistic blockchain development.
Exploring Hyperledger
Hyperledger was created in December 2015 by The Linux Foundation, initiating with 30 member firms and expanding to about 140 members. It aims to expedite industry-wide collaborations to foster high-performance and reliable blockchain/distributed ledger technology frameworks. These frameworks enhance various business operations’ efficiency, performance, and transactional capabilities.
Hyperledger attracts key players from finance, banking, IoT, supply chain management, manufacturing, and technology. Esteemed members include Bosch, IBM, Microsoft, Oracle, Deloitte, Hitachi, American Express, JP Morgan, and Visa.
Hyperledger’s Organizational Blueprint
Hyperledger, essentially, is not an organization or a cryptocurrency network. It emphasizes supporting infrastructure and standards to develop blockchain systems and applications for industrial use. It’s a hub for various blockchain-based projects and tools under its defined design philosophy.
Key sub-projects:
- Hyperledger Fabric: A platform for business-focused blockchain products and applications.
- Hyperledger Cello: Enables blockchain through a Blockchain-as-a-Service deployment model.
- Hyperledger Explorer: Dashboard utility for monitoring and maintaining blockchain developments and data.
- Hyperledger Sawtooth: An enterprise-grade, permissioned blockchain platform utilizing Proof of Elapsed Time consensus algorithm.
- Hyperledger Caliper: Tool to benchmark and evaluate specific blockchain implementations’ performance.
All projects are designed to be modular, extensible, interoperable, and secure, remaining neutral to specific tokens or cryptocurrencies.
Hyperledger’s Core Technologies
In terms of architecture, Hyperledger employs:
- Consensus Layer: Ensures agreement on transaction order and correctness within blocks.
- Smart Contract Layer: Manages transaction requests and validates valid transactions.
- Communication Layer: Manages peer-to-peer message transport.
- Identity Management Services: Validates user and system identities, establishing blockchain trust.
- API: Interfaces external applications and clients with the blockchain.
Comparing Hyperledger to Bitcoin
Hyperledger is engineered for enterprise use and thus, does not function as a cryptocurrency like Bitcoin. Here are the differences:
- Network: Hyperledger frameworks are typically private and permissioned; Bitcoin is public and decentralized.
- Consensus Mechanism: Bitcoin uses proof-of-work, while Hyperledger supports Byzantine fault tolerance or other models.
- Governance: Hyperledger is governed by The Linux Foundation, not decentralized as Bitcoin.
- Smart Contracts: Hyperledger supports complex smart contracts, enhancing businesses’ programmable agreements.
Hyperledger vs. Ethereum: Which is Better?
Hyperledger offers scalable, customizable, and permissioned blockchain solutions focusing on privacy and confidentiality. Conversely, Ethereum may appeal more to companies needing broader developer support and innovation in an open-developed platform.
Demystifying Hyperledger and Cryptocurrencies
- Is Hyperledger a Cryptocurrency?: No, Hyperledger aims to provide enterprise-grade blockchain frameworks and tools separate from cryptocurrencies.
- What Coin Does Hyperledger Use?: Hyperledger does not have a native coin; it’s focused on developing business solutions, not digital currencies.
Conclusion
Hyperledger, backed by The Linux Foundation, presents a robust platform for developing business-grade blockchain frameworks and technologies. Its modular solutions are enhancing industries such as supply chain management and smart contracts, emphasizing their adaptability and enterprise-focused design to cater to varying use cases.
Related Terms: Blockchain, Bitcoin, Ethereum, Smart Contracts, Modular Blockchain Solutions.
References
- The Linux Foundation. “Linux Foundation’s Hyperledger Project Announces 30 Founding Members and Code Proposals to Advance Blockchain Technology”.
- Hyperledger Foundation. “Hyperledger Members”.
- Hyperledger Foundation. “About Hyperledger Foundation”.
- Hyperledger Foundation. “About Hyperledger Foundation”.
- Hyperledger Foundation. “Use”.
- Hyperledger Foundation. “Hyperledger Fabric”.
- Hyperledger Foundation. “Composer”.
- Hyperledger Foundation. “Hyperledger Cello”.
- Hyperledger Foundation. “Hyperledger Explorer”.
- Hyperledger Foundation Support. “Hyperledger Burrow”.
- Hyperledger Foundation. “Hyperledger Sawtooth”.
- Hyperledger Foundation. “Hyperledger Caliper”.
- Hyperledger Foundation. “Hyperledger Architecture, Volume 1: Introduction to Hyperledger Business Blockchain Design Philosophy and Consensus”, Page 3.
