Hyperledger Fabric

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The combination of the shared immutable ledger and codifications of smart contracts will redefine how trust is manifested in enterprises.You will get an idea of this once you get started with a few projects.This blog on Hyperledger Fabric will help you assimilate how business networks can be established on blockchain systems in the following sequence:What Is Blockchain For Busines s?Hyperledger ProjectWhat is Hyperledger Fabric?Key Benefits Of Hyperledger FabricHyperledger Fabric ModelParticipants In Hyperledger Blockchain NetworkFabric ArchitectureHow Hyperledger Works?Types Of PeersTransaction Life-Cycle Of Hyperledger FabricUse Case On Hyperledger fabricWhat Is Blockchain For Business?It is the distributed ledger of records where business terms are engrossed in smart contracts and the participating parties agree to the current state of the network, and the privacy is not being compromised.So, to advance enterprise blockchain technologies, Linux foundation founded Hyperledger in 2015.Hyperledger ProjectAs stated on the Hyperledgers website,Hyperledger is an open source collaborative effort created to advance cross-industry blockchain technologies. It is a global collaboration, hosted by The Linux Foundation, including leaders in finance, banking, Internet of Things, supply chains, manufacturing, and Technology.Hyperledger incubates a plethora of business bl ockchain technologies, framework, under its Umbrella strategy. Currently, Hyperledgerhouses the following projects:The Fabric (or the Hyperledger Fabric) led by IBM was designed to develop highly scalable blockchainapplications with the flexibility of permissionsNow, what I mean by above statement, well youll just know!!What is Hyperledger Fabric?The fabric was intended for developing solutions with a modular architecture. Hyperledger allows the components to be plug-n-play. It is a private and permissionedBlockchainsystem which means Unlike, in Permissionless(or public network) systems that allow unknown identities to participate in the network, the members enroll through Membership Service Provider (MSP).It also offers the ability to create channels, allowing a group of participants to create a separate ledger of transactions. Since Fabric is the permissioned Blockchain it has some major advantages over other blockchainsystems.Key Benefits of Hyperledger FabricHyperledger Fabric ModelFollowing are the key features of Hyperledger Fabric that fulfill its promise of customizable enterprise BlockchainAssets:Enable the exchange of monetary value over the networkChaincode:Partitioned from transaction ordering, limiting the required levels of trust and verification across node types, and optimizing network scalability and performanceLedger Features:Encodes the entire transaction history for each channel, and includes SQL-like query capability Privacy throughChannels:Enable multi-lateral transactions with the high degrees of privacy and confidentialitySecurity Membership Services:In Permissioned membership participants know that all transactions can be detected and traced by authorized regulators and auditorsConsensus:Allow network starters to choose a consensus mechanism that best represents the relationships that exist between participantsParticipants in Hyperledger Blockchain Network Fabric ArchitectureBlockchain developer codes Application and Smart Contract He deploys the app on a server and smart contract on a peer using DEPLOYA registered user interacts with the app sending order (INVOKE) or retrieving information (QUERY) through the smart contractSmart contract can emit an event subscribed by the appHow Hyperledger Works?Hyperledger Fabric was designed to be a truly modular, scalable and secure foundation for industrial Blockchain solutions. Maybe the most notable change in the upgrade from Fabric version0.6 to Fabric 1.0 is that the peers are now decoupled into two separate runtimes with three distinct roles.Types of PeersCommitter peer: Commits transactions, maintains ledger and stateEndorsing peer: Receives a transaction proposal for endorsement, responds granting or denying endorsementOrdering peer:Approves the inclusion of transaction blocks into the ledger and communicates with peer and endorsing peer nodesTransaction Life-cycle of Hyperledger FabricUse Case on Hyperledger FabricHyperledger can host almost any type of business network. With the scalability as an advantage, a number of use cases are being developed on the Fabric.Use Case: Interoperability of AssetsDescription: Interoperability of assets means the exchange of assets among a group of people.Problem statement:If an organization requires 20,000 units of asset B but instead owns 10,000 units of asset A, it needs a way to exchange asset A for asset B. Though the current market might not offer enough liquidity to fulfill this trade quickly, there might be plenty of liquidity available between asset A and asset C, and also between asset C and asset B.Now there are market limits on direct trading between A B, so what can be the probable solution?Solution: In this case, a chain network connects buyers with buried sellers, finds the best match (which could be buried under several layers of assets), and executes the transaction. So basically a business network of a group of individuals can be set up on the Hyperledger Fabric and the assets can be ex changed among the buyer and the sellers.So the strategic goals of Hyperledger to build business solutions on blockchain technology sharply separates it from currency based blockchains. This might be mundane to some, but also more straightforward to the technology.I guess my information bucket of Hyperledger Fabric is empty now, I hope the reading was fruitful.If you wish to learn Blockchain and build a career in Blockchain Technologies, then check out ourBlockchainCertificationTrainingwhichcomes with instructor-led live training and real-life project experience.This training will help you understand Hyperledger Fabric in depth and help you achieve mastery over the subject.Got a question for us? Please mention it in the comments section and we will get back to you.Recommended blogs for you Truffle Ethereum Tutorial Developing Ethereum DApps with Truffle Read Article Blockchain 2.0: Ethereum DApps and Job Trends Read Article Solidity Tutorial Solidity Programming For Beginners Read Article Ethereum Smart Contract How to execute a Smart Contract? Read Article Blockchain Tutorial A Beginners Guide to Blockchain Technology Read Article What is Blockchain? 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