WHAT IS HYPERLEDGER?

 Media coverage has helped to propel the development of Bitcoin and Ethereum in the blockchain world.

One blockchain project has been overlooked by the media, but it is making great strides to improve the lives of developers. The Linux Foundation created the Hyperledger Project in order to standardize and democratize blockchain technology for businesses.

Hyperledger is a cross-industry platform that helps companies to solve problems efficiently. It allows organizations to create custom blockchain apps to address their specific business needs.

What is Hyperledger?

The Linux Foundation founded Hyperledger, an open-source project. It offers a variety of frameworks and projects to developers and businesses to help them build blockchain applications and networks. Hyperledger Project is designed to facilitate collaboration between developers, businesses and enterprises in the field DLT (Distributed Ledger Technology).

Brian Behlendorf, Executive director of Hyperledger, explains:

“Hyperledger is an open-sourced community that benefits from a network of Hyperledger solution providers and users. It focuses on blockchain-related use cases across multiple industrial sectors.”

Hyperledger is supported by more than 250 organizations currently, and this number is growing rapidly. This list includes tech giants like Airbus, Daimler, IBM and SAP, Huwaei and Fujitsu Nokia, Samsung, American Express and JP Morgan as well as blockchain startups such Blockstream and Consensys.

Director quoted:

“You won’t see a Hyperledger currency. By not pushing a currency we avoid so many political difficulties of having to keep a global consistent currency.”

It strengthened the foundation of Hyperledger Project and helped to shape the goals of industrial applications of blockchain, as well as preventing it from getting rich schemes that result from currency-backed blockchains.

Hyperleger Project has enormous potential and features over 28000 participants with 3.6 million lines code. Hyperledger consists of 10 projects that include 6 tools and 6 frameworks. There are two main sections to the Hyperledger project:

• Modular Tools
• Modular Frameworks

We are now clear about Hyperledger. Let’s talk about the different Hyperledger Projects, Tools and Tools that help with blockchain development.

Hyperledger Projects

Hyperledger is a part of the umbrella strategy that promotes and incubates a variety of business blockchain technologies, including smart contract engines and graphical interfaces.

Hyperledger encourages reuse of building blocks and allows for innovation in distributed ledger technology components.

Hyperledger Burrow

Hyperledger Burrow, hosted by the Linux Foundation is one of the Hyperledger Projects. It provides a modular blockchain client that allows you to create a permissible smart-contract machine using the specification of Ethereum Virtual Machine. Burrow’s capabilities include high transaction throughput, transaction finality and proof-of-stake engine.

Burrow is made up of these components:

• Consensus Engine

The Byzantine Fault Tolerant Tendermint protocol is used to order and execute transactions. It offers high throughput for a number of validators and protects blockchain from forking.

• Smart Contract Application

The consensus engine finalizes transactions and they are then validated to the application status. The validator set, name registry, and all accounts make up the application state. The public-private key pair corresponds to Burrow accounts. Smart contract codes are included in the Burrow accounts. The code for an account is run on a permissioned virtual computer when a transaction interacts with smart contract code.

• Application Blockchain Interface (ABCI).

The Application Blockchain Interface allows smart contracts to interact with the consensus engine.

• Application Binary Interface (ABI).

Transactions should be written in binary format to allow the blockchain nodes to process them. Hyperledger Burrow tools allow you to create, link and deploy smart contracts in solidity. You can also execute transactions that call smart contracts on your chain.

• API Gateway

Burrow provides JSON-RPC, REST and other endpoints for communicating with the application state or blockchain network. This includes querying the most recent state of the application and broadcasting transactions.

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