Hyperledger in the Blockchain world. What makes it different from other solutions?

Surely everyone has heard the words Ethereum and Bitcoin. As part of the blockchain world, they have attracted the world’s attention through widespread media coverage. In general, blockchain technology has gained business interest because of its decentralized, unchanging, and transparent nature. Among other notable projects that have emerged over the past few years is Hyperledger.

What is Hyperledger?

Hyperledger is an open source project of blockchains and related tools offered by the Linux Foundation. It was created in 2015 and aimed to advance cross-industry blockchain technologies. Hyperledger does not support cryptocurrencies and does not represent a cryptocurrency network or a traditional blockchain system.

So what is Hyperledger for? The project aims to facilitate developers, and enterprises are working on the adoption of blockchain. It provides the necessary standards and infrastructure to develop and implement blockchain solutions in various industries.

Hyperledger’s structure in depth

The Hyperledger project can be visualized as a home with open source development tools and libraries as a foundation, and modular frameworks right under the roof.

One of the widely used digital ledgers is called Hyperledger Fabric. It is an authorized blockchain infrastructure that serves as a basis for building applications or solutions with a modular architecture.

Hyperledger Besu is an Ethereum client designed for corporate use for both public and private use cases of authorized networks. The following framework Hyperledger Burrow runs on smart contracts and represents a complete single-binary blockchain distribution that supports EVM and WASM.

Hyperledger Indy can work autonomously or even work with other blockchains. Indy was developed for decentralized identities. Another easy-to-use modular distributed platform is called Hyperledger Iroha. The framework includes a role-based consent model and multi-signature support. Iroha is adapted for digital asset management systems and is used to manage identity and serialized data. As part of a Hyperledger system, there is also no cryptocurrency presence here.

The digital ledger Hyperledger Sawtooth offers a modular architecture where smart contracts can specify business rules for applications without knowing the underlying design of the system. Sawtooth uses the Python programming language, which facilitates the implementation and maintenance of the final software.

Hyperledger applications compared to other enterprise solutions

Let’s look at the differences between traditional web portals and blockchain based solutions. The former do not have speed, security and traceability, while blockchain offers high speed of transactions and enhanced security provided by smart contracts and encryption. As for Hyperledger dApps in particular, they stand out for their ability to handle complex business processes within a matter of hours.

When it comes to blockchain solutions without permission and Hyperledger applications being allowed, there are several major differences. Unauthorized blockchain solutions imply no regulation, allow anonymous cryptographic identities, and generally represent public systems on a shared ledger. The counterfeit tracking is code based and transactions are impossible to change.

Hyperledger applications are both public and private systems where workflows are monitored by regulators. Hyperledger application participants are genuine and identifiable, transaction identities are also traceable.

Overall, Hyperledger guarantees tamper-free data exchange and cryptographic validation of contract terms and operations. A toolkit is rich in platforms and frameworks that can be selected according to the business specifications. Ultimately, implementing the solution will help consolidate databases, improve performance and scalability, reduce fraud risks, protect sensitive data, and streamline ROI.

Industries ready for Hyperledger adoption

Hyperledger has already entered several spheres, such as supply chain management, retail, healthcare, FinTech, IoT, banking and manufacturing. Among companies using the technology are Walmart, Amazon, Nestle, Visa, Maersk, Postal Savings Bank of China and others.

To start your business innovation through Hyperledger adoption, you need to choose a competent Hyperledger development company that will design a custom solution to address your business challenges.