What is Hyperledger project?
Hyperledger is a project, not a technology, and we do not build stuff on it. This is collective development of blockchain based on distributive ledgers. The Linux Foundation is for the world’s top developers and corporations to build ecosystem which accelerate open technology development and commercial adoption.
The Linux Foundation declared in December 2015 the Hyperledger project. This mainly is organized via membership fees mainly from corporates and offers members companies guidance ,consulting, training, events, networking and webinars.has received contributions from IBM, Intel and SAP, Ariba, to support the joint development of blockchain related ledgers.
The Linux Foundation use the numerous projects, the foremost documented of which is Linux, the open source operating system, with the iconic penguin logo. Currently, the website lists 53 such projects. The projects run by the Linux Foundation use open source governance best practices an “Umbrella” for open source Blockchain and smart contract technologies.Hyperledger is only one of the many projects run by the Linux Foundation.
Fabric is Hyperledger most active project to date. It is permissioned block chain, basically contributed by IBM and Digital Asset. A unique characteristic of fabric is its distributed ledger and smart contract platform allows for personal channels. Smart contracts execution (called “chain code” in Fabric) and configurable consensus and membership services.
Examples of Hyperledger Fabric
(A) IBM Food Trust:
Blockchain based service designed to make better the food source traceability Walmart,Kroger, Driscoll’s, Dole, McCommic, MacLane co, Nestled, Tyson Foods, Unilever etc.
(B) NIIT Technologies:
Chain m, a Blockchain powered solution for the Airlines and its partners.
(C) The China’s biggest retailer ID com offers its own JD Blockchain open platform to help enterprise customers streamline a broad range of operational procedures.
(D) The China Pacific Insurance Company is utilizing JD Blockchain platform to deploy a traceable system for e-invoices, which are official recipients required in China for business.
(E) The American Association of Insurance services, a not-for-profit insurance advisory organization has developed open IDL (open insurance Data link) designed to automate insurance regulatory reporting.
It is contributed mainly by Intel and it includes a completely unique consensus algorithm called (POET) Proof of time period. A lottery designed consensus protocol. Sawtooth consensus software targets huge distributed validator populations with minimal resource consumption. It may give us the ability to build very wide and flat network of hundreds to thousands of nodes. It supports Ethereum smart contracts via “Seth”.
Example of Hyperledger Sawtooth
The coffee seller Cambio Coffee gives a transparent, traceable supply chain path for its products from harvesting to roasting, packaging , and shipping. Hence, customers would learn the precise details of what they’re buying and drinking. “The idea is to connect the customer to the origin story” “So we’ve been executing it through our marketing material. Now Blockchain technology provides us a way to validate our chains”.
The dream and idea is to supply digital identities for people and provide them the facility to share their identity with whom they chose. Instead of being an entry in a giant database, we have our data and deal programmatically with different organizations who want to examine our identity.
Companies do not have to store such many personal data. They can store a pointer to the identity. Indy’s Blockchain software is based on data minimization. When a company is finished with our data, it throws it away.
Burrow project involves a permissioned smart contract interpreter built in part to the specification of the Ethereum Virtual Machine (EVM) hosted by the Linux Foundation.
Ethereum Foundation is utilized both for cryptocurrency as well as the smart contracts. It’s written with the Solidity programming language. Within the Burrow project, the EVM is that the interpreter for smart contracts that meet the Ethereum network. It possess light weight & flat uses BF1 consensus algorithm. Many popular companies belong to the Enterprise Ethereum Alliance, including JP Morgan, Microsoft, Accenture, BP, and Cisco.
Iroha project is prominent an outlier within Hyperledger. It originated with some developers in Japan who had built their own Blockchain technology for a little of mobile use cases..
BFT consensus algorithm, no mining, Robust permission system, command (Built in smart contract) less room for the errors. It’s implimented in C++ which can be more top performance for small data. Being utilized in Kingdom of Combodia to create a new payment system alongside the National Bank of Combodia (alongwith healthcare, finance, and identity management).
Besu is an enterprise-grade Ethereum codebase.
Although the project’s goal is to make interoperable ledger suitable for a many range of industries, the individual contributors (Fabric, Sawtooth,Iroha) are not interoperable. Smart contracts and assest on the ledgers cannot immediately interact or work directly on another. Driving ledger interoperability is one of the key aims and the values of the Hyperledger.
Other Blockchain Platforms
- Ethereum ushered within the period of the second generation Blockchain and other people finally saw the truth potential of DApps and the smart contract.
- Hyperledger Fabric Enerprise-grade distributed ledger frameworks. Hyperledger boasts 185+ collaboration enterprises across finance,banking, IoT, supply chain, manufacturing and the technology. It is among one of the 8 ongoing Hyperledger projects.
- Corda: A brain child of the R3, a distributed database company. The Corda initialized as a platform for providing services in financial sector. corda means all the demands of modern day bussiness when it comes transactions.
- Ripple: The aims of Ripple is to connect banks, payment providers, digital asset exchanges and corporates through Ripple Net, with nearly-free global transactions without any chargebacks. It allows global payments through its digital asset called “Ripples of XRP” (3rd most popular).
- Quorum: Developed by J.P.Morgan leveraging Ethereum since 2015. The Quorum is developed to tackle the requiring high-speed and high-throughput processing of private transactions, with a permissioned group of participants.
Hyperledger Caliper could also be a blockchain tool.It permits users to measure the performance of a selected blockchain implementation with a gaggle of predefined use cases.
Cello may be a blockchain module toolkit and one among the Hyperledger projects hosted by The Linux Foundation.It provides a multi-tenant chain service efficiently and automatically on top of varied infrastructures, e.g., bare metal, virtual machine, and more container platforms.
Composer may be a set of collaboration tools for building blockchain business networks that make it simple and fast for business owners and developers to make smart contracts and blockchain applications to unravel business problems.
Explorer may be a blockchain module. it’s designed to make a user-friendly Web application,
This is a business blockchain tool. Hyperledger Quilt offers interoperability between ledger systems by implementing the Inter ledger protocol (also referred to as ILP), which is primarily a payments protocol and is meant to transfer value across distributed ledgers and non-distributed ledgers.
Ursa may be a modular, flexible shared cryptography library.