Beginner’s Guide: What is Hyperledger?

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In the age of blockchain, it is common to see new players. And, you would not find it hard to digest that even Linux Foundation is interested in the blockchain. So, what is HyperLedger?

Recently, they released their Hyperledger.

But, don’t be mistaken. It is neither a blockchain nor a company or a cryptocurrency. HyperLedger is an open source collaborative effort to make the blockchain technologies advance. It is also has a cross-industry reach, and is not committed to just one single industry or vertical.

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Linux Foundation established in 2016 and have already garnered more than 100 members. Technological, financial and blockchain startups are part of the whole Hyperledger ecosystem. Some of the notable names from each vertical are listed below:

  • Tech giants: IBM, SAP, Intel, Nokia and others.
  • Financial Institutions: American Express, BNP Paribas, Deutsche Börse and others
  • Blockchain startups: Netki, bloq, Lykke and others.

All these are innovative companies or startups and help Hyperledger reach its true potential. So what exactly is Hyperledger?

What is HyperLedger?

As we already discussed Hyperledger is an open source collaborative effort for the betterment of the blockchain. It acts as a hub for the blockchain projects that drive towards a common goal. To better understand let’s go through the official explanation of Hyperledger. You can find it in on their official website.

Will HyperLedger have its own coin?

One of the common question asked by cryptocurrency community members is weather HyperLedger will have its own coin? The answer is no. There is no intention to have a cryptocoin or any form of digital currency attached with HyperLedger. In the early stages, Brian Behlendorf, the executive director of the project dismissed the possibility of the coin.

He was very upfront about not having a coin for HyperLedger. The reason being is that it doesn’t meet with the philosophy or their goal. He added, “You’ll never see a Hyperledger coin.” Also, not having a coin means truly focusing on the blockchain technology and not spending resources or talent in maintaining a decent value of the coin.

HperLedger focus on Enterprise-grade Framework

They are trying to build an open source enterprise-grade framework. The framework is meant for distributed networks and will have a code base attached to it. Also, the framework is meant to be used to maintain, create and promote open infrastructure. You can read more about it in their released charter.

Let’s take a look at the Hyperledger reference architecture.

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Which Projects are running under HyperLedger?

There are plenty of projects that are currently running under Hyperledger. Google launched their umbrella company, “Alphabet.” But, HyperLedger follows the umbrella concept of managing projects from the start itself. Let’s list of the major projects that are working on.

Burrow: The project uses permissioned smart contracts through a modular blockchain client. It uses Ethereum Virtual Machine(EVM) style.

Sawtooth: A platform through which anyone can build scalable distributed ledgers. It is also used to deploy and run them.

Indy: Another distributed ledger project meant to provide libraries, tools, and other reusable components. The mission of the project is to to provide a means to create and use digital identities that are independent and decentralized.

Fabric: Fabric project aims to provide tools required to develop the blockchain solutions or applications. It is led by IBM and offers a plug and play implementation for blockchain.

And many more.

What’s next? Blockchain Technology For Business

This is just a start for Hyperledger. It is one kind of a blockchain collaboration that aims to make blockchain more accessible to everything. They are working on multiple frameworks which are led by world’s best companies and startups. Not only that, they are also developing various tools that will make accessing and managing blockchain much easier. For example, they are building Cello and Composer.

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The best part about Hyperledger is how they are building the best tools and framework without any monetary engagement. They are open source and provide the best tools that blockchain can ever have. Also, this will make blockchain more accessible. So, what do you think about it? Comment below and let us know.


About Author

Nitish holds a BSc in computer engineering. He is a blockchain enthusiast and in spare time likes to read about the moon. His articles have published on Dzone, InfoWorld, and Hongkiat.

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