What exactly is Hyperledger? Beginner’s Handbook

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Hyperledger is an open-source, modular initiative that allows businesses to develop using blockchain in a way that suits their needs.

Not all blockchain initiatives are the same. While there have been a slew of cryptocurrencies and blockchain-based projects, Hyperledger stands apart. It isn’t a coin, nor is it a firm, nor is it a sort of blockchain.

Rather, it is a collaborative melting pot for some of the world’s largest corporations interested in exploring blockchain-based solutions to major challenges.

 

What is Hyperledger?

Hyperledger is a project hosted by the Linux Foundation to help developers and companies work together to build collaborative blockchain projects. It’s a collective of open-source blockchains and tools that anyone can use to create their own distributed ledgers.

The goal is to foster cross-industry collaboration by allowing blockchain-based initiatives to engage with one another. In contrast, the ledgers at the heart of most cryptocurrencies cannot communicate with one another.

Hyperledger, like Linux’s operating system, is open-source, allowing others to freely develop on top of it. This has resulted in a flurry of diverse projects from some of the world’s most powerful corporations.

 

  • ?️ Hyperledger Sawtooth – A modular blockchain suite developed by Intel.
  • ? Hyperledger Iroha – A consortium of Japanese companies focusing on implementing hyperledger for mobile.
  • ? Hyperledger Fabric – An IBM lead project that supports widely used coding languages like Java.
  • ?️ Hyperledger Indy – A project designed specifically for projects based around individual identity.
  • ? Hyperledger Besu – An open-source Ethereum client that can be used to develop dapps and smart contracts.

Did you know?

People pondered early on in the project’s development if Hyperledger should have its own cryptocurrency. However, the project’s executive director stated, “You’ll never see a Hyperledger coin.” By not advocating a currency, we escape many of the political issues associated with maintaining a globally uniform currency.”

Who invented Hyperledger?

The Linux foundation first announced the platform in December 2015.

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A brief history

  • December 2016 – Launches with 30 founding corporate members.
  • April 2017 – Apache Software Foundation co-founder Brian Behlendor is appointed executive director of the project.
  • September 2017 – Hyperledger describes itself as a “business blockchain umbrella”.
  • December 2017 – Nearly 200 corporate and associate members are registered with the project.
  • January 2018 – Hyperledger becomes the fastest-growing project the Linux Project has ever launched.
  • October 2018 – Hyperledger becomes an Associate Member of the the Enterprise Ethereum Alliance (and vice versa).
  • November 2019 – Hyperledger announces its Certified Service Provider (HCSP) program, supporting organizations that help with enterprise adoption. Members include companies such as Accenture, Hitachi, IBM, Tencent and Ant Financial.
  • January 2020Hyperledger Fabric 2.0 launches.

What is so special about Hyperledger?

Over 240 organisations are actively supporting Hyperledger’s development. It’s a totally different strategy than most blockchain products have taken up to this point.

Among those organizations are big tech businesses like Fujitsu, Huawei and Samsung as well as financial institutions like American Express and J.P. Morgan.

On top of that, the Linux Foundation has created a whole suite of free tools alongside Hyperledger to help others.

  • ? Hyperledger Caliper – lets users measure the performance of a blockchain
  • ? Hyperledger Cello – a blockchain as a service tool
  • ? Hyperledger Composer – a tool for building blockchain business networks

Did you know?

 

Hyperledger has its own charter laying out the direction of the project. “Create an enterprise-grade, open-source distributed ledger framework and code base.”

 

How does Hyperledger work?

The goal of Hyperledger is to be versatile and adaptable to the demands of various enterprises, hence it is designed in a modular manner. This allows various teams to adopt various methods.

There are now a number of distinct consensus mechanisms in use on Hyperledger projects. Using the tools offered, groups may band together and create their own unique blockchains.

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This is a fundamentally different method than the consensus strategy used by networks like Ethereum and Bitcoin, which need the whole community to agree on modifications.

 

Did you know?

 

Some 159 engineers from 27 organizations contributed to the design and development of Hyperledger Fabric v1.0.

 

What can you do with Hyperledger?

Thanks to its modular design, there’s an array of projects and businesses using Hyperledger for different purposes.

  • ? Walmart – The food giant has teamed up with IBM to trace food through its supply chain using Hyperledger, including leafy greens, pork and mangoes.
  • ✈️ Honeywell – The aerospace company has created GoDirectTrade, an online used parts marketplace using Hyperledger Fabric to record transactions.
  • ? The National Bank of Cambodia – Cambodia’s central bank has launched Project Bakong, an e-payment system using Hyperledger Iroha, in partnership with Japanese blockhain firm Soramitsu.
  • ? MiPasa – The open-data blockchain hub has launched a platform for attested coronavirus data built on Hyperledger Fabric, in conjunction with IBM Blockchain Platform.
  • ? eThaler – Built on Hyperledger Besu, eThaler is an open-source central bank digital currency (CBDC) pilot with contributions from consulting firms Accenture and InfoSys and the Itau Bank in Brazil.
  • ? Chain Integration Project – Using Hyperledger and RFID tags, this project aims to address counterfeiting in the retail industry, with partners including Nike, Macy’s and Kohl’s.

The future

The Hyperledger project has attracted dozens of developers and community members to its open-source approach to blockchain; at 2020’s Global Forum alone it announced 14 new members and service providers, including retail giant Walmart.

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It highlights how many businesses envisage a blockchain-based future and are collaborating to make it a reality.

It does, however, provide certain difficulties. R3, EOS, and Ethereum compete for enterprise-level blockchain solutions, but Hyperledger looks to be holding its own; in January 2020, Hyperledger Fabric passed R3 Corda in development activity.

It remains to be seen whether Hyperledger’s open-source strategy will introduce blockchain to the rest of the globe.

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