Blockchain technology has evolved at a very fast pace. It has revolutionized how businesses are done. It is a distributed database which exists on several computers at the same time. It keeps on expanding as the new blocks are added to it. These blocks carry a link to the previous blocks and in the real sense, these forms a chain. The businesses adopt this technology so that the transactions are performed faster, securely and in an efficient manner.
Hyperledger has emerged as one of the effective projects on blockchain technology. It is one of the open-source projects by IBM. It has partnered with Linux foundation which is capable of managing the project in the desired way. The world would be much more difficult without open source technologies, as these can be accessed easily.
The success of Blockchain depends on a large extent on the fact that how it maintains the trust between the partners in a business. Any business framework which lays great emphasis on maintaining a reliable and secure environment, in business transactions attracts the attention of the people.
There are companies which provide extensive support for hyperledger consulting and a wide range of other services like offering education, organizing technical workshops, network support services etc. which are highly essential for a business to survive in a decentralized system.
What Is Hyperledger Fabric?
Blockchain which is permissioned proves useful in many cases. But it does not fulfil the requirement when it is used for maintaining the information, which is very sensitive and needs to remain between the two business parties.
In traditional blockchain all the transactions require the approval of all the parties, ledgers need to be maintained so that the transactions are executed successfully. When this is done on a large scale then problems arise, because it is difficult to support transactions which are private and confidential. One of the best projects which can suitably meet this requirement is hyper ledger fabric.
It is one of the best blockchain platforms which is set by the organizations, which intend to do business. It is a distributed ledger based on the blockchain technology. This makes use of Smart Contracts so that the trust is maintained between the parties involved in the businesses. It has been released recently and has established itself as one of the secure and reliable platforms for the blockchain.
Role of Hyperledger Fabric
It separates the peers and assigns them important roles like:
These roles ensure that peers can write within the ledger. The consenter is the person who verifies that those two peers have performed some transactions within themselves, and they have made an agreement related to the same. It is not essential for others to know about this transaction.
Thus if you are exchanging any information on the blockchain, which is highly sensitive and important, then you need to make use of Hyperledger Fabric. So that the important deals and information are not passed to the third party. The transactions can be done fast with its help. Various industries like healthcare etc. are benefited. It is definitely of great help as it creates private channels so that the data is shared with a few parties.