Hyperledger is not a blockchain, but a platform of open-source distributed ledger technology projects created by the Linux Foundation in 2015 to promote cross-industry blockchain technologies. The term blockchain is not unanimously accepted by the community to designate Hyperledger projects, whose architecture differs from a blockchain itself. We therefore prefer the term distributed ledger technology (DLT), which is broader, or the notion of permissioned blockchain, which has the merit of emphasizing the restriction of access to the network to certain members only.
Several teams are collaborating on these projects. The collaboration involves leaders in very diverse fields of activity, such as finance, banking, the Internet of Things, but also the supply chain. These include Accenture, Airbus, American Express, Baidu, Cisco, Deutsche Bank, Fujitsu, Nec, JP Morgan, IBM, Intel, SAP, BBVA, Bosh, Deloitte, EY, Oracle, R3, SAMSUNGS, Ripple, PWC, RedHat, Swisscom, VMware, or Thales.
Hyperledger currently includes frameworks such as: Fabric, Indy, Burrow, Iroha, Sawtook and tools intended to be used for the management of these frameworks (Cello, Composer, Explorer, Quilt, Caliper).
Hyperledger projects are done on a private network on what is commonly called "private blockchains". Membership in the network is therefore controlled, and members may need additional authorization for certain sensitive actions.
Unlike public blockchains, where all transactions are transparent and accessible to all, transactions on Hyperledger are confidential and are visible only to the participants involved.
Hyperledger has different DLT frameworks each with a different consensus:
Hyperledger is an open-source platform which means that anyone can view, download, and make changes to the code. Open-source technology makes a lot more sense for enterprise blockchains.
If open-source technology is properly coded, designed, and implemented, it becomes an effective option and that has proven over the years.
It is more popular and highly reliable. The Linux operating system is open-source and runs on 90% of the public cloud workload. Here more than 99% of supercomputers use it and 80% of smartphones use it. Apache Web Server is also open-source and supports more than 405 of websites. Open-source platforms have more exposure and most developers like them.
There are a few reasons why companies opt for open-source platforms.
Open-source platforms create more competitive niches as they offer a large number of features that are completely free. These platforms give the competition a run for their money as they offer better results.
Usually in proprietary software, you would have to deal with vendor lockdown situations. It is a situation where you are not allowed to get the encryption from the software. You have to pay a certain amount of fee to get the software. This does not allow customers to easily switch from the software if they don't like it after using it.
But in open-source technology, you won't have to worry about vendor locks. You can easily switch to another if you don't like them.
Open-source offers more high-end solutions. The interoperability feature ensures the quality of the network. Blockchain suffers from interoperability issues. But Hyperledger provides open-source platforms that are suitable for an interoperable environment. Open-source allows a user to freely connect with other open-source channels.
Hyperledger is particularly appreciated by businesses for its flexibility. The network stores blockchain state data in NoSQL or LevelDB databases. Therefore it is necessary to choose your database according to the needs of your project, but also internal skills and the desired scalability.
Precisely, the Hyperledger architecture requires special skills. In a Hyperledger project, the "chain code", the engine of smart contracts, is a system component in its own right: each node must therefore manage all the network connections with the other nodes. Smart contract instances will be deployed all around the node, exclusively in Docker containers.
Hyperledger allows you to choose a personalized consensus adapted to the project, an indisputable advantage for an enterprise DLT. It has been the subject of numerous POCs (proof of concept) within major brands to start testing its potential.
Robust and secure, Hyperledger can respond to all types of trades and its adaptability has already won over SAP or Oracle. Its administration and security tools are "packaged" and allow efficient management of the production and operation of the blockchain.
Its complexity, however, makes it difficult to deploy, and some professionals will prefer Corda, or Ethereum, which offers many more possibilities by opening the way to the crypto-economy and a new business model thanks to a native cryptocurrency. Hyperledger, on the other hand, is widely used by IT service and consulting companies, which can bring rare know-how to their customers.
Note also that unlike Corda, Hyperledger leaves the possibility for companies to develop a cryptocurrency via chain codes. An interesting way to benefit from the advantages of a new business model while taking advantage of better scalability than on the Ethereum network.
Although less useful than an open blockchain, Hyperledger remains one of the preferred choices for companies wishing to take advantage of distributed ledger technologies without making their data public. However, companies dealing with very sensitive or very confidential data will have a greater interest in taking a closer look at Corda.
Hyperlink InfoSystem offers services such as consultation and development of Hyperledger technology. For companies who want to make use of blockchain technology without making their identity public, our developers are available to provide them with excellent services. With several years of experience, we provide our clients with excellent Hyperledger blockchain development.