While you are exploring the world of digital ledger technology, sooner or later you are going to hear about Hyperledger. This open-source Linux Foundation pledged project mainly focuses on solving enterprise-level issues.
Although you might think that this is a single project, “Hyperledger” in reality is an umbrella project under which twelve major projects run simultaneously and collaborating with more than 260 major enterprise-level organization.
This can be stated as a gigantous success for any blockchain project as it started its journey in 2015. Even in today’s competitive tech market where big sharks are devouring the smaller ones, Hyperledger believes in the “co-operation mantra!”
Today, we are going to dissect this BIG player in the blockchain technology scenario and help you understand everything about it.
Table of Contents
Chapter-1: Databases and Businesses
Are Databases Everywhere?
Who doesn’t know about “Databases,” right? Every day we use the database in almost everything we do. For example, even your mobile phone’s contact list is a form of database. However, It’s just a digital version of previous paper address books.
Another step complex databases would include a wide variety of information such as the list of patients, customers, voters, employees, properties, luxury goods and any more. Some databases would contain lists of programs or institutions that can interact with each other.
In fact, a database is simply a set of information that is fully organized in a specific way, and it’s super easy to find any updated items there.
After the revolution of computers in the 1950s, digital databases started to gain popularity among society and businesses. Moreover, it started with mere simple applications but have grown to be a more important factor in our lives. As the businesses grew, so did the databases and they started to evolve too.
Companies started to demand more and more power and speed; the databases started to have relational information based on columns and rows. All you needed to do is query specific relational info and get the desired information that matched with it. Obviously, you can’t do all of these things with mere paper databases, can you?
Most of Today’s Databases are Shared
As of now, the world is connected more than ever, and different people or companies need to access the same information. Instead of making the same databases for everyone’s need, technology evolved and gave us distributed databases.
Also, using these now more than one person can access the same info in databases now. Isn’t that great?
Let me clear it up with an example. In a company, employees could have certain meetings at certain times. Therefore, setting up a bilateral meeting date would be fairly difficult in paper calendars. To help this out, they can all just set up their available timing in an online calendar from where a respective schedule can be reached.
But this is just a simple example. Therefore, Distributed databases help to enhance productivity at a greater rate. You can just access almost everything just from your desktop or laptop, no need to go anywhere in person and waste time.
However, there are some issue and some serious questions with the new type of database. Typical problems like these arise:
- Who is trustable for sharing your information?
- How to know if someone is who they are saying they are?
- What are others allowed to do in the database?
- How will you detect a corrupted personal?
- What can you do to settle disputes?
As you can see, there are some flaws with the idea of distributed databases. However, Blockchain Technology comes with a relatively new way to look at these databases. It solves most of the problems we are facing with shared databases.
Blockchain: A New Type Of database
The blockchain technology is a new form of the database without any need for central authority or any trust. As a matter of fact, shared databases often deal with the matter of trust issues. However, You won’t simply trust the person you barely know online to get hands of your information.
Here trust could mean a lot of things. It could mean you want everyone to perform legitimate actions on the databases. Users are not trying to steal each other personal information or degrade others performance by using false means. But with blockchain, you won’t need to worry about that.
However, this issue brings up two kinds of blockchain.
At present, many of the cryptocurrencies use permissionless blockchain. Here, any user can join the network and will have full rights to work on it. As an example, anyone can buy Ether or Bitcoin; both of these networks are permissionless.
On the other hand, if you run a business, you would want a bit more privacy. So, using permissioned blockchain would be the strategic approach. Here, users that meet certain criteria can use the platform and do certain actions. Some of these let anyone join while only let pre-approved persons verify transactions.
In other cases, only pre-approved persons can join the network through identity verification.
Moreover, for enterprise use cases its best to stick to permissioned blockchain as it will give more edge to the company itself.
Read more about the History of Blockchain Technology.
Blockchain Permissions and Consensus
Consensus protocols in blockchain technology play a huge role when it comes to maintaining the integrity of the network. As it’s a trustless network and there isn’t any central authority the need for security should be on point.
And that’s where the consensus protocol comes into play. Furthermore, these networks use blockchain to make sure every information on the ledger is on point. To do that, consensus algorithms have different ways or set of rules to perform.
There are many kinds of consensus protocol with different working nature.
For instance, proof of work is Bitcoin’s way of reaching consensus. Other types have proof of stakes, proof of elapsed time and many more. Some even use a different algorithm called Byzantine Fault Tolerant.
But no matter how or which type of consensus you use, every network uses cryptography to encode the information on the ledger. This way it’s difficult to decode and therefore isn’t vulnerable to attacks.
Moreover, permissioned blockchain uses the basic identity management system to figure out which members are trustworthy. Usually, these involve certificating or digital signatures.
Well, the good news is, you don’t really need to understand blockchain on the coding level to know how useful it can really be.
Want to know more about Blockchain Transformation? Check out our Blockchain Transformation playbook!
Why is Blockchain So Important for Business People?
Many existing businesses can highly befit form blockchain technology. They can save an enormous amount of time, money and obviously increase the security. On top of that, many can start a whole different marketplace based on the only blockchain.
The previous generation of the internet was great for sharing any kind of information such as documents, songs, webpages, photos, emails, videos. But there’s a major issue. Thus, it becomes rather difficult to prove your identity.
Any kind of transaction will then involve an intermediary, like your personal credit card company or bank, to confirm the other person that you are who you really are before buying anything. This system created delays, frictions, extra expenses and many other failure points that are too easy for a hacker to get into.
But blockchain opens the door to a new realm. A place is better suited for exchanging valuable information without worrying about it getting leaked. People can now establish who they really are and can trade bonds, stocks and money, votes, loyalty points, intellectual properties, confidential files, etc.
And so, it won’t matter if you trust the other person or not, as long as it’s going through the proper channel, you’ll be able to trade without interference. Let along the technology gets rid of the middleman and saves a ton of money. Can it get better than this?
Check out our Ultimate Blockchain Cheat Sheet to learn more about blockchain the easy way!
Chapter-2: What is Hyperledger?
Hyperledger is an open-source umbrella project of Linux Foundation, which offers a wide range of frameworks and toolset for developers and businesses. The Hyperledger community helps businesses to experiment with blockchain networks at ease.
Hyperledger was created back in 2015 to help the advancement of blockchain for enterprises by forming a consortium of far-sighted companies.
Fundamentals of Hyperledger Infographic
Why Was It Created?
After the popularity boom of blockchain technology, many companies were highly interested in working with the new tech. But they realized that if they start to work together, they can achieve much more innovations than they could do separately.
All these firms then decided to join their resources together and create an environment that anyone could use. The far-sighted companies now are trying to make blockchain technology more accepted and a standard industry grade tech.
Linux foundation took the guardianship of the Hyperledger, and it started to proliferate in the next years. At present, over 260 organizations are working with it to make sure blockchain becomes industry-grade technology.
Hyperledger now has 12 projects, with 10 active working groups, 110+ meetups around the world with 28,000 participants. Everyone involved with Hyperledger wants to make the blockchain technology modular and open source for everyone to use easily.
Is Hyperledger Open Source, But Why?
Hyperledger is an open-source platform. Usually, in case of proprietary software, the vendor or manufacturer licenses the products and shares only for a fee. In that case, no one can alter the original code setting of that software. But in open source, anyone can see, download and make changes on the code.
And moreover, open source technology makes a lot more sense for enterprise blockchains.
If an open source software gets properly coded, designed and deployed, it becomes an effective choice, and it’s proven throughout the years.
It’s more popular and highly reliable. As an example, the Linux OS is open sourced, and it runs on 90% of the public cloud workload. Here, more than 99% supercomputers use it, and 80% of smartphones use it. Apache Web Server is also open sourced and supports more than 405 of the websites you’ll find.
So, you see open source platforms get more exposure, and mostly developer loves these.
Open Source Offers Some Major Benefits
There are some major reasons why enterprises go for open source platforms better. Check out the five benefits of open source platforms –
More competitive capabilities and features
Open source platforms create more competitive niches as it offers a load of features being completely free. For example, if you are getting the same kind of features in two software where one is paid, and another is open source, which one would you pick?
It’s obvious that these platforms give the competition a run for their money as they offer better outputs.
There isn’t any vendor lock-in, helping customers to switch easily
Usually, in proprietary software, you’d have to deal with vendor lock-in situation. It’s a situation where you aren’t allowed to get ahold of the software’s coding. Also, to get the software you have to pay up a certain amount of fee. This doesn’t let customers to easily switch from the software if they don’t like it after using.
But in open source software you won’t have to worry about vendor lock-ins, if you don’t like them, you can easily switch to another.
Open source offers more high-end solutions. In this case, the feature of interoperability ensures the quality of the network. Blockchain suffers from interoperability issues. But Hyperledger provides open source platforms that are more eco-friendly for an interoperable environment.
Furthermore, open source lets a user to freely connect with other open source channels. But with proprietary software, it becomes much more difficult.
Quick bug fixes and customization for the betterment
Its open source, anyone is free to look into the code. This feature allows the user with quicker bug fixes. Anyone who can look into the code can figure out the loophole and make the changes to fix that. All the more, customization plays a huge role here.
But every developer works differently, and you’ll be surprised to see how each one customizes the same code according to their need. This promotes innovation and creativity.
The total cost of ownership is much lower
You’re working on a solution, and for that, you are customizing an open source software. Just imagine the costing for the same solution without the initial open source product. Wouldn’t you need more money and time to develop the solution?
You are getting an environment that with certain customization would be perfect for your business. So, why would you spend extra money on developing the same thing from scratch? Open sources can’t go with every environment right out of the box. But they give you a chance to make the tweak and saves you a load of cost.
Not Just a Free Product
Previously, open source would only mean that it’s free and people would get attracted. But the scenarios have changed. Now with only “free” as a feature won’t be able to grab the developers’ attention.
Furthermore, people are now noticing the core values of the open source, and enterprises are using it to boost their market, reduce risk, and get a competitive edge. Now organizations want to work on a strategic project that will solve some specific industry oriented issues.
And so, with open source rather than reinventing the whole concept from scratch, they can add in more enhancements to use it for another purpose.
Not only it’s great for technological advancements as it streamlines innovation, but it can also reduce costs to a great extent. So, if one industry can build a platform and others can enhance it in different ways, any company needing to get the same solution can benefit it from them. They don’t have to rebuild the things all over again.
Open Source Boosts Trust
Hyperledger believes that blockchain can be the perfect open source platform as an example, as it deals with trust issues greatly.
Blockchain ensures a direct approach, peer to peer transmission, most parties that don’t trust each other or any kind of government system. So, they cannot trust any parties to settle their disputes either. Therefore, it becomes evident to trust in the blockchain technology itself.
Thus, Hyperledger makes it open source, as stakeholders can now come together and build a suitable environment for industrial growth and have enough trust in the technology itself.
Want to know more about Blockchain? Check out our Blockchain Fundamentals Presentation and Join our Webinar course now!
Chapter-3: Hyperledger: The Enterprise Blockchain Greenhouse
Hyperledger happens to work as a blockchain greenhouse who brings developers, users, and vendors from all around the world together under one platform. Every participant on the network have a thing in common – they all want to learn about blockchain and develop enterprise solutions for using them.
Even though blockchain is a really powerful solution, you won’t be able to fit this technology everywhere.
Each enterprise company has its special requirements when it comes to the blockchain. They want to modify it in their own way for it to be able to satisfy their needs. As different organization have a different kind of requirements, blockchain can’t be a single system or standard. Hyperledger expects to develop and help develop blockchains with different features for every enterprise.
A greenhouse type of architecture, in this case, can help bloom this technology. That’s why Hyperledger provides this structure to take in new ideas, help out by giving resources and then make the proper distribution.
Being a greenhouse organization, with Hyperledger you will get a load of benefits. Take a look at the benefits below:
- keep up with developments
- Enhanced productivity using specialism
- Collaborative Approach
- Superior value control of the code
- Handling of intellectual property
Keep Up With Developments
We know how it can be quite daunting to navigate through the open source environment of Hyperledger. As a matter of fact, some of the organizations might give up just because of the complexity and cost or never start their development at all.
But with Hyperledger you can reduce all the burden of research as you’ll be working in a collaborative environment with clear communication. Thus, a good communication channel with help you to catch up to the coding or development rather quickly. In the long run, you’ll be able to develop a solution much faster.
Enhanced Productivity Using Specialism
One of the basic economics of productivity is the division of labor. You might know it as specialization. This technique ensures the best of the best productivity from any kind of organization. Hyperledger uses this technique to boost the development of any project.
Here, everyone won’t be doing everything at once. But Hyperledger figures out their strong suits and enables those people to work on that special field. This way, the people become an expert at what they excel and also the overall productivity skyrockets immensely.
The benefits are countless; you’ll be able to get more value, greater expertise, and solid productivity. As the blockchain is open source, without Hyperledger the greenhouse effect would be far more difficult.
It also stops competition as people would be working on their particular individual field, so there’s no point of competition. Hyperledger will encourage you to join forces and use their research in a good way.
Blockchain happens to be a siloed environment for now. But typically in this kind of environment, many people tend to duplicate each one’s developments. Replicating all the developments in blockchain is extremely nonproductive as there aren’t many open minds of developers in the blockchain pool yet.
In Hyperledger, you will see something different. Here, collaboration is the priority. By using collaboration, Hyperledger can avoid the chance of duplication let along streamline the overall development. Moreover, it encourages the entire community too.
As they will work together, interoperability would be another potential feature, Hyperledger will be able to attain easily.
Superior Value Control of Code
Any kind of open source software is always appreciated for their greater quality level. This quality comes from a careful observation of the code and a lot of debugging. Hyperledger will always keep promoting the quality control of coding for their every project.
The technical committee of Hyperledger will keep reviewing every single line of code as long as they are part of the team. It creates a new type of edge for the network. Any new project will receive its fair share amount of critique and by that developers can increase the quality levels.
Using that long term members could learn from new projects and can utilize them in their project too. This way Hyperledger achieves the superiors’ level of quality in coding.
Handling of Intellectual Property
Another great benefit of Hyperledger is the handling of Intellectual Property. With the greenhouse architecture, Hyperledger can ensure more consistent care of the intellectual property. Hyperledger uses Apache 2.0 license of code. It also uses Creative Commons Attribution 4.0 International license for any kind of contents.
Both of these licenses safeguard the intellectual property and are extremely friendly got the enterprises.
Thus, Hyperledger uses a single consistent approach for intellectual property and gets rid of the costing and complex nature of contractual relationships.
This way, you can use Hyperledger without worrying about any legal issues. Hyperledger is here to have your back.
Chapter-4: Hyperledger Design Architecture
Distributed ledgers always have a significant requirement mostly for different use cases. For example, if the participants in play have an immense level of trust in each other such as financial institutions, then blockchain could come into play using its shorter confirmation time and rapid consensus algorithms.
On the other hand, if the participants have minimal trust, then they should go for slower processing time with more security.
Hyperledger Design Architecture and Use Cases Infographic
Hyperledger wants to cover every possible use cases on the market. They know different enterprise scenarios have different outcomes. That’s why Hyperledger makes the changes with decentralization, confirmation times, trust and many other issues. Every issue can be optimized for the betterment in Hyperledger.
To cope up with the diversity, every Hyperledger project follows a particular design architecture. They include:
- Modular Design
- Extremely secure platform
- High-end API support
Hyperledger is always working on modular frameworks that are extensible. Here they use common building blocks, which you can reuse in other projects. This modular structure is quite efficient as developers can experiment with them without affecting the overall structure of the network.
This ensures to create a separate component that you can combine and build a distributed ledger based on that.
It’s a perfect approach that you will get from the Hyperledger projects. Your developers would be able to work on every model separately, and you can then reuse other previous models to create a new one.
The Hyperledger Architecture Working Group states all the modules for different usages such as smart contracts, ledger storage, identity, cryptography, consensus, policy, and communication.
Extremely Secure Platform
What is the most important factor for any distributed ledger? The extended level of security is one of the top priorities of DLT. As there are many use cases where you might need to deal with high valued sensitive data or transactions.
As distributed networks deal with a load of nodes, codebases, and data flows, hacker primarily targets these kinds of networks. That’s why security should be the number one priority of any infrastructure. Meanwhile securing the blockchain isn’t an easy job. It’s because Hyperledger has to provide a lot of functions while maintaining the resistance.
Robustness and security are the two factors that let any kind of enterprise-grade blockchain to evolve. This way Hyperledger can offer a critical architecture for the next to come generations.
All of their projects have perfect security and follow the same principles of the Linux foundations core infrastructure. But you’ll be pleased to know that all of Hyperledger protocols, algorithms and cryptography are audited regularly. They are mostly security experts or other community who audits these codes.
In the future, to get blockchain in every sector of our lives, they need to be able to communicate with other systems seamlessly. Using that, they can exchange all needed data and create a more powerful network system.
Hyperledger wants to make all the applications and smart contracts portable for every other blockchain networks out there.
Thus, Hyperledger is trying to create an interoperable network that can boost the adoption process of the blockchain.
Hyperledger doesn’t deal with cryptocurrencies or any kind of tokens on their platforms. All of their projects are cryptocurrency-agnostic. Moreover, Hyperledger also promises to never issue their cryptocurrency.
Because they believe in the core technology not to just administer any kind of cryptocurrencies, but as many corporations might want to have cryptocurrencies in their blockchain, Hyperledger will give you the options to create your cryptocurrencies on the network.
However, the network doesn’t really need any cryptocurrencies to operate.
High-end API support
Every single Hyperledger project would give you easy to use and full of features API support. All of the APIs they provide is capable of handling interoperability. Hyperledger APIs will let you communicate with their core system from an external client application and network.
All of the APIs help blockchain or any other distributed ledger technology to proliferate across a wide range of use cases.
Chapter-5: Core Hyperledger Use Cases
Now let’s talk more about Hyperledger use cases. You’ll understand the concept much better with these. Every single use cases are drawn from their own perspective. These are just a few of the popular examples. Other than these you can use Hyperledger in many other sectors.
Some of these are given below. Take a look!
- Financial Services
- Supply Chain Management
- Media and Entertainment
In every Hyperledger use cases, you can use their tools. I many cases, there is special proof of concept. Let’s check out what they are –
If you want to take a loan from your bank, you would need to provide a lot of information that would convince the banks to hand out the loan. Banks do want to give out a loan. But they also have to take a good risk where they know the borrower can pay them off.
That’s why banks ask for all sorts of verifying information such as government ID, annual income, birth dates, passport number, and so on.
Ultimately, all of the information needed for the PII is just to verify your credit rating. Some of the regulations allow the sharing of this information with authorities for possible prevention of money laundering.
However, getting all of this information, would make the bank a number one target for a hacker. And if somehow the hackers could get past the security firewall, every single individual invested with that bank would be at risk.
On the other hand, this isn’t an easy solution for you guys as well. The process of applying for a loan takes up a lot of time. With every new application, you are also risking all of your personal information to be abused.
But this Hyperledger use cases will allow you to share your personal information without worrying about getting bused in any way.
Hyperledger Indy Architecture Is Capable of Handling the Process
With Hyperledger Indy, every applicant would only share the information needed for the bank to confirm their identity or ranking. This way, everyone gets a truthful system, and the pressure on the banks are much reduced.
If you are seeking a loan or any other activity that includes sharing your personal information to the banks, then you can do in milliseconds with Hyperledger Indy architecture. Not just one, but applying to 100 lenders would be done within a millisecond.
Instead of uncovering your PII, you can just use zero-knowledge proof to verify that you are over 21 and your tax payment last year passes by a certain threshold. You’ll also be able to proof your government ID and your credit card information from the past week.
Hyperledger Indy architecture ensures the ledger based identity solution for any kind of company that needs to deliver value to multiple parties. You’ll be asked for consent before sharing the information, so you’ll have full control over all of your information.
Strengthen with Other Hyperledger Projects
The use case could become more compact with other Hyperledger projects on the mix.
For example, Hyperledger Burrow will allow you to convert every loan application to a smart contract. In this contract, you will be able to verify certain rules and process the loan automatically.
Hyperledger fabric use cases can also be used here. It can create a membership system to validate any preexisting members and offer self-sovereign identity for it. Hyperledger fabric use cases can truly shine in this filed.
2. Financial Services
Why would any financial service use blockchain? Well, the primary drive that fuels these sectors is confidentiality, privacy, and accountability. And obviously, Hyperledger use cases can include financial services too for having all of the features.
Special compliances of the financial services have to follow the guidelines of Anti-Money Laundering and Know Your Customer to validate any person’s identity. All of these requirements give rise to permissioned or private blockchains. Well, because public blockchains aren’t capable of providing the confidentiality they need.
Post-trade processing in these financial sectors is one of the best Hyperledger use cases. And you can truly benefit from it.
A typical step of post-trade processing –
Usually, post-trade processing will cover every little step done after the processing of the trade gets completed. Let’s see what the steps are:
- Validating the Tarde: Confirming and validating the transaction comes right after the trading.
- Clearing The Settlement: To complete the trade you would need to match with initial instructions and follow with the confirmation of matching with the instructions.
- Settlement: You’ll need to realize the legal obligations to finalize it. This will include every single party being present and letting them know of the matter.
- Custody of The Trade: If multiple parties have the custody of a trade like property, then the distribution of the property happens simultaneously.
- Final Reporting: After satisfying everything forms the above reporting to the authority finalizes the trade.
So, you see the trading process isn’t that simple as you thought it to be. Today’s trade suffers from duplication of effort, bottlenecks, and delays.
Hyperledger can Help Streamline the Process
If you compare the same model of processing the trading with blockchain, you’ll see a greater increase in efficiency at every step.
Using the peer to peer solution of the blockchain, any party could provide the transactional information for other parties to verify. Doing everything on the Hyperledger blockchain platform would streamline the whole process, and the network could act as a third party. But in this case, much more secure.
You can also get rid of other complexities as everything needed could get stored on the network. So, you can just provide the information for a specific person and get it over in a few minutes.
Do you what that means? It means the essential steps for post-trade processing can be on the platform quite easily.
How Hyperledger Projects Can Help
There are multiple Hyperledger projects with multiple use case to cover all the functions of the financial services.
Hyperledger Fabric use cases in this regard can help to disjoint the leger with separate endorser sets and to set specific nodes for privacy. Replication of the same data would not be able to happen on the network because of the consensus algorithms.
Hyperledger Sawtooth can lend its transactional functionalities to offer a powerful and reliable solution for the trading of the financial institutions.
Any insurance company can use the secure smart contract functions in their company to process the claims even faster without any added paperwork. This ultimately reduces the risk factor associated with these institutions.
Hyperledger Indy architecture could help out with its privacy policies without compromising anything. All of the projects thus creates a wonderful ecosystem where each one can contribute their special feature and help to sustain the security of financial trading.
Healthcare is one of the top Hyperledger use cases on the market now. With the help of Hyperledger blockchain now this sector can finally streamline credentialing physicians. Credentialing doctors are really important for healthcare. This process allows any hospital to know whether their doctors are really trustworthy or competent for joining.
But the process of doing so take up a lot of time. And not to mention the tremendous amount of paper trails it leaves behind. Double checking every single data from those files takes up a lot more time for both the doctor and the hospital.
Another major issue is drug counterfeit. A big chunk of drugs gets counterfeited every year. And the result – the suffering of the consumers. Not only these drugs are dangerous, but they also hit healthcare industries with a bad rep.
Hyperledger use cases can add up verifying health insurance claim here too. In case of emergency, health insurance claims take too long to process. Instead of resting the patients then have to deal with paperwork and the process, which is really daunting.
Hyperledger Blockchain Can Help In This Regard
The Hyperledger Indy architecture is more than capable of handling the credentialing issue of the hospitals. It can provide a safer network where the medical schools to upload the doctors’ credentials and create their verification identities.
Any hospital can now just request the need to know information from the network and verify whether they are capable or not. They won’t have to call the medical schools directly to verify anymore.
Also, tracking of the drugs and speeding up the process of an insurance claim is Hyperledger blockchains another great feature.
4. Information Technology
With blockchain now people can get their self-sovereign identity at ease. This is a unique idea where every person will get their own ID and would be able to control the data in it. In the IT section, this could lead to major advancements.
One of the most exciting applications of blockchain is for self-sovereign identity: the idea that an individual owns their own “identity’’ and controls the data around it. This has profound implications for enterprise IT.
Hyperledger Indy Architecture Fits Right Here
The ledger Indy offers a self-sovereign identity. Coupling with the traditional ways of the identity, you’ll get much more security and cryptography using the platform.
Issuing individual signatures and offering rich metadata is Indy’s primary target. However, there are some major differences with other ledgers. This type of identity isn’t siloed, shared or federated. All the identities are portable here. So, you can just bring your ID with you wherever there is any distributed ledger.
A user using their identity in any organization would be secured, as the organization won’t be able to influence the data in the users’ ID.
So, using Indy can help organizations to have high-end security for Information Technology. That’s why it’s another top Hyperledger use cases.
5. Supply Chain Management
You might think supply chain management as a rather easy model, but as the days are going by the architecture is becoming more and more complex. Due to the complex nature managing, every single stage of the supply chain becomes a hurdle.
Starting from manufacturing, it becomes a need to trace the progress of the product let along its journey to the customers’ door. The manufacturer makes quality products but somewhere along the way of shipping many products get stolen or replaced. As a result, customers are not happy with the result.
Also, every sector of supply chain deals with transactions. The more the process gets streamlined, the better the productivity.
Hyperledger Projects Can Manage Supply Chain
Hyperledger Sawtooth can be helpful to manage supply chains. With this users can create a traceability network, where every stage of the supply chain would be on the ledger. Using IoT sensors the ledger can record their location, temperature and other factors in case of shipping.
This would also let the enterprises discover who the corrupt person is and how they are exploiting the system.
Also, using smart contract feature of the Sawtooth would allow making payments smoothly at every stage. Enterprise can truly benefit from these Hyperledger use cases.
Governments need to maintain a lot of tasks such as provide civil rights, meet compliance demands, fight fraudulent activities using a secure, trusted channel. However, the existing model isn’t enough to fight or provide the citizens with the care they demand.
Hyperledger use case in government can help the system with the proper security and corruption free network it needs. From enforcing laws to issuing identification can all be done on the network itself.
Hyperledger Projects Can Help the Government
Starting from replacing a simple street sign to alter an emergency everything could be tracked using the Hyperledger Fabric architecture. Moreover, any Governmental services can use this framework to create a large scale system.
With this new Hyperledger use cases you will be able to track any kind of utility within a city. So, it would be much easier to serve the citizen and fulfill their demands at ease.
Moreover, having a transparent election system will preserve the trust back in the governmental system.
With Hyperledger Indy architecture issuing a governance ID will be a piece of cake. The Hyperledger project is designed to offer a proper network where every citizen’s identification can be issued and kept in a safe place.
Using the identification in any sectors of the government system would then be easier. They can just query the information needed from the ledger and get what they need.
Nowadays transportation units have a much more complex nature in the network system. Many cars come with software installments. That’s why the need for security within the system is becoming harder to provide.
Automotive industry now has to deal with micropayments, mobility services, electric vehicle charging, smart automotive structure and many more.
Not to mention the parts of the industry. Big companies have a global marketplace, and for that, they source their parts worldwide. But due to the proper lack of security measures, the parts get counterfeited, and the customers get low-quality output. Traceability is a must to detect defected parts or counterfeit parts as a way of safeguarding the consumers.
So, as you see all of these problems can easily be dealt with if they put Hyperledger blockchain in the mix.
Hyperledger Projects Lending a Helping Hand
The automotive industry is a popular Hyperledger use case. The Hyperledger blockchain is fully capable of handling all of their needs. Using Fabric the industries can build a platform where they can enable congestion fees, micropayments for tolls, parking, electric charging or any kind of payment solution.
You can also use it to have a secure drop point in case of delicate packages.
A great way to make this one of the best Hyperledger use cases is to offer proper tracing of automotive parts. This way the industries can deal with counterfeits and people would get a safer vehicle to use every day.
Also, interlinking the smart cars with their very own Hyperledger blockchain platform would give them easy access to facilities. People would get better transportation service as it will connect passenger with their desired ride.
8. Media and Entertainment
The media and entertainment industry suffers greatly on many occasions. Licensing the music or content and getting the performing rights still struggle to find a better understanding of the matter. That’s why manual reconciliation, poor data quality, data duplication, a global network of organizations or even governments plague out this industry.
If they aren’t tracking properly, artists getting the royalty for their music could even take up to a year.
Another major fact is the marketing section or the lack of proper exposure. Almost 50% of the overall marketing ads fail as they aren’t able to reach the audiences as they hoped. Staged measurement systems and ratings make it really hard for any music industry to know how much the audience truly loves them.
Let along with only fraudulence in digital advertising; it costs the industry more than 7 billion USD every year. So, you get poor cash flow, leakage of the content, labor costs, disputes, and so many more issues.
With the increasing levels of Torrents, any television program or digital content struggles to provide the content only to their paid customers. Getting leaked through the paid customers is the number one source for losing valuable income.
How Hyperledger Projects Can Help
This one can truly be one of the best Hyperledger Fabric use cases. With the help of Hyperledger Fabric architecture, these industries can use smart contract to get licenses for the music they create. The decentralized Hyperledger platform can track the content and provide the real-time update needed.
Hyperledger Sawtooth can also help out in this regard as it’s fully capable of handling these Hyperledger use cases.
With the help of Hyperledger blockchain can streamline the ads more and would get the real feedback from the audiences instead of fake ones. Thus, it will reduce the overall costing and help the industry to grow.
Chapter-6: Hyperledger Projects: All Frameworks
Hyperledger promotes a wide range of blockchain technologies. Currently, they have six frameworks under their bag. Let’s see what they are:
Summary Table of Hyperledger Frameworks
|HYPERLEDGER BURROW||It’s a modular blockchain platform with permissioned smart contract integration. It was made along the specification of the Ethereum Virtual Machine (EVM).||Incubation|
|HYPERLEDGER FABRIC||The fabric is a distributed ledger solution with modular design which lets developers create a high-quality application for any purpose.||Active|
|HYPERLEDGER INDY||Indy is a distributed ledger platform that offers an array of libraries, tools and reusable components to help build a decentralized identity-based system.||Incubation|
|HYPERLEDGER IROHA||This is a blockchain framework for easy blockchain integration in enterprise architectures.||Active|
|HYPERLEDGER SAWTOOTH||Sawtooth is a blockchain suit for running, deploying and building distributed ledgers. It offers a brand new consensus protocol – Proof of Elapsed Time.||Active|
|HYPERLEDGER GRID||Grid offers ledger based solutions for supply chain management across cross-industry scenarios.||Incubation|
Hyperledger Projects: Frameworks and Tools Infographic
1. Hyperledger Burrow
Burrow is one of the Hyperledger projects that provides a framework. Hyperledger Burrow is a modular blockchain platform with permissioned smart contract integration. It was made along the specification of the Ethereum Virtual Machine (EVM).
Burrow is the fourth distributed ledger platform from Hyperledger within 2017. Monax originally proposed the ledger and developed it. Any enterprises who want to get their hands on a strong blockchain platform where the main focus is smart contracts then they should try out this project.
The use of Hyperledger smart contracts reaches another height for this project.
You can use Burrow for multi-chain purposes as the platform was designed in specific application optimization in mind. Moreover, the feature of integrating Hyperledger smart contracts makes it even more lucrative.
Components of Hyperledger Burrow
It mainly has three different kinds of components, but other special parts make this project so lucrative. They are:
An Engine for Consensus: Burrow uses Byzantine Fault-Tolerant Tendermint protocol. This is a new type of protocol that ensures a higher transaction rate. But you’d have to deal with previously known validators. Also, this consensus doesn’t let the framework fork.
Application Binary Interface (ABI): Every transaction has to be converted to binary codes because the blockchain node can process it that way. The toolset in this interface will let you compile, deploy and even link another solidity Hyperledger smart contracts and formulate the transaction to call those Hyperledger smart contracts in the chain.
Ethereum Virtual Machine (Permissioned): Hyperledger uses this virtual machine to observe the operations codes of Ethereum and ensure that the authority has the correct level of permission. But how are the permission levels achieved? Well, the native functions mainly enforce this and maintain the Hyperledger smart contracts codes too.
Smart Contract Application: Every transaction has to follow a certain order to reach the application state. The order follows the sequence in which the consensus finalized each of them. So, users in Burrow will be able to call smart contract codes within the transaction. If they call the Hyperledger smart contracts through a transaction, then it will get executed in the virtual machine.
Application Blockchain Interface (ABCI): Smart contract application layer connects with the consensus engine using the ABCI. This interface lets the consensus engine be agnostic from the Hyperledger smart contract applications.
2. Hyperledger Fabric
The fabric is a distributed ledger solution with modular design which lets developers create a high-quality application for any purpose. With Hyperledger Fabric architecture will let you get the scalability, resiliency, flexibility, and confidentiality you will ever need for your company. Whatever your industry may be you can use Hyperledger fabric architecture for that.
Hyperledger Fabric architecture runs on a general-purpose programming language, which makes it free from any native cryptocurrencies.
The Hyperledger Fabric architecture has the most diverse set of the development community. Many organizations have contributed to the Hyperledger fabric use cases, and the community is quite vast now.
Now there are over 35 organizations that maintain the overall quality of Hyperledger fabric architecture. Along with 200 developers from the earliest deployment.
Hyperledger Fabric architecture is modular. Even if it’s a pluggable identity management system or consensus, this framework can take on any enterprise and turn them into Hyperledger Fabric use cases.
Usually, the Hyperledger Fabric architecture contains the following modules:
- Ordering services that allow Hyperledger Fabric consensus to order the transactions and then broadcast them to other nodes. (Pluggable)
- Membership service providers, which associates the users on the network with cryptographic identities. (Pluggable)
- Optional peer-to-peer gossip services that distribute the output of the block to other peers.
- Smart Contract option that will run within a contained environment.
- Configurable for different DBMSs.
With new Hyperledger smart contracts, in Fabric, you’ll get the chaincode. It’s a function that gets all the security or trust from the blockchain itself. This is a business logic made for enterprise blockchain training and applications.
Instead of going for the traditional ways they introduced some changes in the Hyperledger smart contracts. They call it execute-order-validate.
Usually, it follows three major steps –
- Executing a transaction and then check for the correctness.
- Ordering up the transaction using the pluggable Hyperledger Fabric consensus protocol.
- Validating the transaction using an application specific rules before adding it to the ledger.
This new design changes the transaction process entirely, thus scales up the performance of the smart contracts.
Pluggable Hyperledger Fabric Consensus Protocols
If a user transacts on the platform that needs to go through the Hyperledger Fabric consensus mechanism. Here, Hyperledger Fabric consensus is pluggable. So, after you have initiated a transaction, it would get connected to the pluggable Hyperledger Fabric consensus module and go through it.
As it’s modular, any developer can modify it to offer a specific solution. This way the pluggable Hyperledger Fabric consensus gets more diversity. However, they are allowing the platform to have toolkits for byzantine fault-tolerant or crash fault-tolerant.
3. Hyperledger Indy
The Hyperledger Indy architecture is another great addition to Hyperledger. Indy is a distributed ledger platform that offers an array of libraries, tools and reusable components to help build a decentralized identity-based system.
All the identities can be used on any administrative domains, organizations, and applications. That means you’ll have full authority over your identity and where you use it. Any organization could reject your access but not your identity. It will remain intact. It will also allow you to give your competitors, friends and even antagonists to reply on the shared source of truth.
Hyperledger Indy architecture lets you get all the information of who you’ll be dealing with and how you’ll be able to verify any kind of information from the other party. Both of these are a need in enterprise-grade companies.
Main Features of Hyperledger Indy Architecture
Self-sovereignty: In Indy, you’ll be able to store your identity artifacts on the distributed ledger. All the artifacts could have cryptographic accumulators, proofs of existence, public keys and many more. No one but you can remove your identity from the ledger.
Privacy: Obviously, the system needs to be greatly protected. That’s why Hyperledger Indy architecture preserves it in a way so that no one leaves any breadcrumbs behind.
Verifiable Claims: Claiming identity can need any kind of documentation such as driver’s licenses, birth certificates, passports, and so on. However, if anyone gets more access to these, they could misuse them. That’s why the platform uses zero-knowledge proof to disclose only selective documentation needed.
Powerful Benefits of Hyperledger Indy
The combination of the features of Hyperledger Indy architecture is quite powerful enough. But with Indy, you can develop more Hyperledger use cases.
Hacking any system could vanish the bulk amount of sensitive data on the network. But using Indy the enterprises can easily deal with any hacking situation. It’s because industries would have less authority over the identities making them safe from hacks.
Moreover, the identity can reach a dynamic point where they could be used as a free marketplace. The Hyperledger Indy architecture possesses advanced cryptography, but the API is quite straightforward and simple. It only includes 50 C-callable functions and idiomatic wrappers to support popular programming languages.
4. Hyperledger Iroha
The Hyperledger Iroha is another one of the wonderful Hyperledger projects. This is a blockchain framework for easy blockchain integration in enterprise architectures. Hyperledger Iroha came into play after Fabric and Sawtooth in 2016. Soramitsu developed the project, and along with Hitachi, Colu, and NTT Data proposed it to Hyperledger.
Key Features of Hyperledger Iroha
- Straightforward maintenance and deployment.
- Tons of libraries to use for developers.
- Access control is role based.
- The design is modular.
- Command-query separation principle.
- Identity and Asset management.
Hyperledger Iroha has a quality control model where they carefully improve these followings –
- Performance (resource utilization and time behavior)
- Reliability (recoverability, fault tolerance)
- Usability (appropriateness recognisability, user error protection, learnability)
Where Can You Use Hyperledger Iroha?
There’s a list of Hyperledger use cases using Iroha. The company hopes that developers will get inspired by these applications and invent more with Hyperledger Iroha. Check out the common use cases of Hyperledger Iroha –
Certificates in Healthcare and Education
Hyperledger Iroha can be useful in certifying institutions such as schools, medical and engineering institutions, and universities. Using the permission model Hyperledger Iroha will help these institutions to build certifying identities and then give out the certificates.
Each of these certificates will go through a verifying process. Higher authorities will personally verify them.
The Hyperledger Iroha platform will be able to provide a faster and efficient output. With these enterprises can manage assets with less complexity. Using Hyperledger smart contracts to make the payment would be much easier.
Another popular use case for Hyperledger Iroha is the financial sectors. This platform is great for auditing process. As it can restrict accesses based on the person. Also, anyone can get their desired level of privacy here too.
Moreover, you can trace transactions, which helps to spot any illegal activities immediately. Also, Hyperledger smart contracts can benefit the financial sector more in Iroha.
Hyperledger Iroha will provide intrinsic support for managing identity. Every user on the system can have their own unique account with personal information to get authorized. This feature allows Hyperledger to be the perfect fit for KYC applications.
Managing supply chain is quite easy with Hyperledger Iroha. Big enterprises can easily integrate this platform with their own, and it will let them know every single detail about an item. Thus, it will help to track down the whereabouts of any manufacturing process.
5. Hyperledger Sawtooth
The Hyperledger Sawtooth is a blockchain suit for running, deploying and building distributed ledgers. Distributed ledgers offer to have digital records without a central authority. However, due to the complex nature of the network and institutions that seek a bit more centralization, often decentralization becomes impossible.
However, Hyperledger Sawtooth wants to keep the distributed systems distributed and make the Hyperledger smart contract feature safer for enterprises. To fit the enterprise focus based category Hyperledger Sawtooth is a modular platform. This enables the enterprises to make the call for themselves; they can choose what kind of features they want to add up in the ledger.
Top Technical Innovations in Hyperledger Sawtooth
Sawtooth covers some of the new technological innovations of the blockchain. Let’s see what they are:
Dynamic consensus: A user can change consensus in consortiums on the running blockchain. All they have to do is to issue a transaction and use the real-time pluggable consensus.
Proof of Elapsed Time (PoET): This is a consensus algorithm that works in a similar way of Proof of Work, but it doesn’t have the greater power consumptions.
Transaction families: This is a smart contract abstraction. With this, the user can write a smart contract in any language. They will get the ultimate freedom for doing that.
Ethereum contracts compatibility: If the enterprises want they can use the Ethereum contract instead of the Hyperledger smart contracts. Plugging in the Ethereum contract is fully compatible with the ledger. They can do it using the Burrows EVM.
Parallel transaction execution: Hyperledger Sawtooth allows parallel transaction processes. This fastens ups the validating processes.
Private transactions: The clusters of this platform can be used as a separate permissioning node. What does that mean? Well, it means you can create a private separate chain and be more confident about your transactions.
Using It for Enterprises
Enterprises need to deal with a vast number of participants, and Hyperledger Sawtooth is fully capable of handling the increasing number of nodes.
Also, the PoET will provide greater security against any bad player on the network and won’t let anyone sabotage the framework.
Furthermore, with this, you can also have on-chain governance to upgrade the consensus or any rules given by the consortium at any time. It means the consortium can change the consensus whenever they want.
6. Hyperledger Grid
Grid offers ledger based solutions for supply chain management across cross-industry scenarios. Mainly Hyperledger Grid is WebAssembly based project. You will get lots of data models, libraries, and SDK to enhance the development of client interfaces and supply chain smart contracts.
The supply chain is one of the popular areas for blockchain and ensuring more and more use cases in this section will benefit the overall technology. And a shared platform can achieve all of these at once. Also, making it cross-industry usage friendly diversifies the overall nature of the supply chain management.
Is Hyperledger Grid for Cross-Platform Integrations?
This project does not say anything about prohibiting the use of other platforms. However, it ensures a safe solution that supports using it on other platforms. The libraries that you will get here should be able to run on other platforms. Hyperledger Grid doesn’t want to limit the development of supply chain solution saying only to use their platforms instead of others.
Not an Application
Many confuse this project to be an application for supply chains. But unfortunately, it’s not. It’s a collection of frameworks, tools, and libraries that will help the development of other applications. It will ensure that other developers can use common grounds to build applications that will lower the barrier of platforms.
These ways users would be able to switch between applications more often, adding flexibility.
The Difference with Hyperledger Composer
Hyperledger grid might seem a bit similar to the composer, but it’s not. They have a similar kind of objectives, but the mechanism they use is very different. The grid doesn’t want to be a code generation tool. Rather it wants to be a framework with useful tools that would be specifically used in the supply chain.
Can You Compare It With Indy?
Well, both of the platforms solve specific domain related issues. Typical ledger frameworks can’t solve some specific issues alone, and these two seem to work well for those scenarios. However, these issues have a wider spectrum, so both of these platforms can have different use cases.
Is Grid Usable For Other Industries?
Hyperledger Grid is designed to be more close to the supply chain and offer all the benefits for this field. However, developers can use the tolls from this platform to tweak it up and make it suitable for other niches too.
Chapter-7: Hyperledger Projects: All Tools
Hyperledger promotes a wide range of blockchain technologies. Currently, they have six tools under their bag. Let’s see what they are:
Summary Table of Hyperledger Tools
|Benchmarking tool for blockchain platforms. It will analyze the performance grade of any blockchain platform based on predefined use cases.||Incubation|
|HYPERLEDGER CELLO||Module toolkit for deployment of Blockchain as a service. It reduces the effort for creating, terminating and managing blockchain services.||Incubation|
|Hyperledger Composer offers a developmental framework and toolset for streamlining blockchain application deployment.||Incubation|
|Web-friendly viewing access for the network such as nodes, blocks, statistics, transaction, smart contacts and many more.||Incubation|
|It’s a business blockchain tool that offers interoperability between distributed ledger systems using Inter-ledger protocol.||Incubation|
|Ursa works as a shared cryptographic library that keeps track of all cryptographic work. This way businesses can avoid duplicated work and have security.||Incubation|
1. Hyperledger Caliper
The Hyperledger Caliper is a benchmarking tool for blockchain platforms. It will analyze the performance grade of any blockchain platform based on predefined use cases.
Why Did The Hyperledger Community Create Caliper?
Blockchains users are most concerned with the overall performance of any blockchain platform before using it. However, there are no options to know whether a blockchain solution is capable of delivering your desired output or not.
There are some reports on the blockchain performance in different scenarios, but that doesn’t really count as a benchmarking tool. Hyperledger Caliper here would definitely help you out. It’s a benchmarking tool that will work if you give it pre-defined infrastructure.
As many blockchain platforms have their own strengths, the Hyperledger community decided not to go with a common form of benchmarks.
Reasons Not To Have a Common Ground
There are three reasons why Hyperledger Caliper doesn’t have any common benchmark standards. These are –
- No Source Code: Even though there are some performance reports about blockchain projects, but in most cases, they don’t provide source code to evaluate the platform. So, it becomes impossible to apply a common method of benchmarking.
- Common Performance Indicator: Every platform is different and focuses on specific features of the blockchain solutions. So, no one can directly compare these frameworks with other frameworks that focus on various elements. That’s why Hyperledger Caliper doesn’t have an ideal standard.
- Use Cases: Every framework has its fair share of use cases. Users are mainly curious about the use cases, and Hyperledger Caliper could use that to provide a benchmark for the users. However, for every platform, the use case needs to be changed along with the user’s demands to evaluate properly.
2. Hyperledger Cello
This is another one of the Hyperledger projects in queue. Hyperledger Cello is a modular toolkit for deployment of Blockchain as a service. It reduces the effort for creating, terminating and managing blockchain services.
The primary aim of this toolkit is to provide a creative charm to the blockchain ecosystem. Most importantly now enterprises are more eager for Blockchain as a service solution. But they might not be eager to get the services from another BAAS.
But if they start to use Cello, they’ll be able to use the blockchain platform without taking a long way. Also, this toolkit is highly beneficial for those vendors that want to provide BAAS to enterprises.
The Cello Hyperledger community is providing an automated and efficient multi-tenant chain service that offers different infrastructures for a specific deployment.
These mainly include virtual machines, bare metal, and cloud platforms (similar to Amazon Web Services). Also, this Hyperledger community offers container platforms such as Kubernetes and Docker Swarm. All in all, every little tool will boost the overall efficiency of the BAAS.
Dashboard for Cello
With Hyperledger Cello, you’ll get a dashboard. Using that you can –
- See the status of your blockchain network
- View statistical data such as chaincode performance, blockchain events, and system utilization
- Manage the network by developing, configuring and removing them
- Look after chaincode by uploading the existing ones and deploying new ones
However, currently, Hyperledger Fabric is the only blockchain platform that supports Cello. The Hyperledger community wants to make it more accessible to other frameworks as well.
3. Hyperledger Composer
Popular Hyperledger projects the Hyperledger Composer offers developmental framework and toolset for streamlining blockchain application deployment. Hyperledger Composer itself isn’t a framework, but if you integrate it with an existing one, it can turn that framework into a developmental system using its toolkits.
One of the best features of Hyperledger Composer is the ability to deliver a faster and simpler way to create smart contracts. This solves a lot of business problems quite easily.
With Hyperledger Composer you can deploy a blockchain solution in mere weeks!! This is exceptionally a fast-paced project from Hyperledger community.
Hyperledger Composer will also let you quickly model out a business network and then use other tools to integrate features you’d like to add up in the system. The network could have assets –intangible or tangible. They could be properties, services or even goods and will have transactions related to them.
But with Hyperledger Composer you can define how the assets will interact with transactions.
Typically blockchain business models have defined participants that interact with the assets. You can have a unique identification for several business networks with the help of Hyperledger Composer.
Currently, Hyperledger Composer only supports Hyperledger Fabric infrastructure.
Features of Hyperledger Composer
- Develop production-ready applications just from your web-browser. It’s relatively faster too.
- Hyperledger Composer uses LoopBack to integrate into your system. This way you can connect to your blockchain system immediately.
4. Hyperledger Explorer
It’s one of the Hyperledger projects for web-friendly viewing access for the network such as nodes, blocks, statistics, transaction, smart contacts and many more. But why should you use Hyperledger Explorer? Well, wouldn’t it be convenient for you to check up on the network from one place?
Furthermore, developers trying to create more blockchain allocations or solutions needs to have superiority and see the health of the network before rolling it out. And Hyperledger Explorer is just perfect for that.
Using this you can see the status of your network and make a tweak if there is any fault in coding. Also, certain Enterprises wants to have a maintaining committee for security reasons. They could also use this tool to query for specific transactions of blocks.
However, before using this toolkit proposed by the Hyperledger community, you need to proper authorization to the platform. Whether it’s open source or commercial, you can give access according to the user’s position in the platform.
Purpose of Hyperledger Explorer –
- The Hyperledger community wants to create a web-based blockchain explorer. And this explorer would be simple to install.
- Make it more accessible to other blockchain platforms.
- Use the latest technology and tools for the implementation, maintenance, and extension of blockchain platforms.
- Provide a standard package for every developer.
Hyperledger Explorer is currently able to work with Hyperledger Fabric framework for now. Integration with other networks is in process.
5. Hyperledger Quilt
It’s a business blockchain tool that offers interoperability between distributed ledger systems using Inter-ledger protocol. Hyperledger Quilt implements ILP in Java programming language. But what is ILP?
Well, ILP is an open source protocol. Using this a company can create a global namespace for user accounts and make global payments, mostly across ledgers.
Why Use Hyperledger Quilt?
Typically, the ledger system is quite disconnected. You can send money or other assets within a country, mostly if you and the receiver have accounts on similar ledger or networks. But when it comes to sending money to a person on another ledger, it’s too complex. Even though there are connections within networks, but somehow they are extremely slow or expensive.
To deal with the situation the Hyperledger community introduced the inter-ledger protocol that can take on the new distributed ledger technology.
It follows a similar concept like internet protocols. The IP makes sure the information is packetized and then routed to deliver it over the channel.
ILP similarly packetizes the money or asset, routes it and delivers it to other ledger systems. Hyperledger quilt is fully capable of taking on Enterprise grade companies; mostly suited for financial sectors.
What Will Quilt Provide?
By using Hyperledger Quilt, you will get –
- Set of rules for interoperability within ledger systems. It will mostly contain basic escrow procedures.
- The standard for address format that will be ledger independent.
- Framework for implementing protocols.
6. Hyperledger Ursa
Ursa is the latest Hyperledger projects to join the group. Ursa works as a shared cryptographic library that keeps track of all cryptographic work. This way businesses can avoid duplicated work and have security. The structure is modular, and it supports other Hyperledger projects too.
Hyperledger Ursa is a relatively new addition, and it exists to give you a safer set of cryptographic libraries to use in the distributed ledger systems.
Furthermore, it will track and keep all modular signatures and systematic key primitives. This way developers would be able to modify cryptographic schemes using simple cryptography. Using it, you can also get your hands on newer implementations of cryptography.
The Hyperledger community wants to write Ursa in Rust. However, it will have other interfaces with different languages.
Why Should You Use Ursa?
As the Hyperledger community matured, every project within the company felt a need for sophisticated cryptography. However, making cryptography individually takes up a lot more time. But if they have a common shared library to collaborate on the cryptographies, it would streamline the development much more.
However, Hyperledger Ursa also does have other benefits –
- No Duplication: Implementing crypto takes up a lot of time, not to mention the number of complexities it comes with. Moreover, developing crypto might have possible duplication possibilities too. But with Ursa, they can keep track of it and avoid unnecessary duplications.
- Higher Security: Maintaining all of them in Ursa would definitely increase the level of security. Keeping different cryptography safe individually would take up more than keeping them safe in a single place.
- Expert Opinion: Experts can share their opinions about new cryptography in Hyperledger Ursa. This way newcomers would be able to learn and perfect the tech more efficiently.
- Interoperability: Using the same crypto library from the ledger would ensure interoperability. It would be much easier to