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- 1 Hyperledger started in 2015 as an umbrella project of open-source blockchains.
- 2 It encouraged organizations from many industries to actively participate in blockchain development.
- 3 The multi-faceted concept has brought many improvements in the working of the ledger.
Like stories, technologies also give off their spinoffs or by-products. These offshoots often grow and become popular on their own. But there’s one particular technology that has produced a significant number of by-products and that’s blockchain. From cryptocurrency to meme tokens and NFTs, everything has come out of it.
While most of them were front-end solutions, a few focused on the backend as well. Hyperledger is one such project that boosted the functionality of distributed ledgers. Linux Foundation launched this umbrella project back in December 2015. To find out more, let’s dig into its history, governance, and technical aspects.
Hyperledger: A Brief Guide
The motive behind its creation was to boost cross-industry collaboration on blockchain-based projects. It focused on improving the reliability and performance of the distributed ledger. Its founding members are IBM, Intel, and SAP Ariba. The companies wanted to make the network better for technological, financial, and supply chain solutions. The project dealt with open protocols, use-specific modules, and storage routines.
It also streamlined the access, control, and identity of smart contracts. Initially, some discussions happened over the possibility of Hyperledger’s cryptocurrency too. However, Brian Behlendorf, the executive director of the project, rejected that idea. In 2016, it started integrating codebases as the core element of the technology. Soon, Hyperledger, emerged as a collection of open-source projects that supported the development of advanced ledgers.
Moreover, it created tools and frameworks that facilitated the whole process. When the project moved ahead and gained traction, more companies joined the collaboration. Some of them are J.P. Morgan, Wells Fargo, ABN AMRO, Hitachi, Cisco, Accenture, Wipro, etc.
Frameworks Introduced by Hyperledger
The frameworks make changes in the core structure of blockchain. They make the ecosystem more adaptable and business-friendly.
Hyperledger Fabric
Initiated by IBM and Digital Asset, it is a permissioned blockchain infrastructure. It facilitates the execution of smart contracts with a modular structure.
Hyperledger Sawtooth
Initiated by Intel, it’s a dynamic consensus that enables the swapping of data in a running network.
Notable Tools of Hyperledger
The tools of hyperledger work on expanding the functionality of blockchains. They bring new features and update the existing ones too.
Hyperledger Aries: It determines the identity of decentralized solutions. It supports the presentation, issuance, and storage of verifiable credentials.
Hyperledger Caliper: This one helps users to reckon the performance of specific blockchain implementations.
Hyperledger Cello: it aims to enable blockchain networks to implement the “on-demand” running of several applications.
Hyperledger Composer: It’s a set of collaboration tools that make the creation and management of blockchain systems easy for businesses.
Hyperledger Explorer: This one assists in the creation of user-friendly web applications on the blockchain ecosystem.
Hyperledger Quilt: It works on improving the interoperability between different ledger systems.
Hyperledger continues to widen the scope of blockchain in different industries. It has significantly enhanced the capacity of ledgers on many fronts. From interoperability to ease of development, design, and prototyping, it has improved many aspects of blockchain. On top of all that, it has encouraged the active involvement of mainstream organizations in the decentralized space.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
