It has become significant that Blockchain holds immense potential to reform industries and we are already experiencing it right now. With a disruptive technology, comes a myriad of responsibilities. The responsibility to select a suitable framework on which you will develop your blockchain network properly. I’ve already outlined an article about the best blockchain platforms to use, you can read it here. However, let me help you walk through why Hyperledger Fabric could prove to be the best option to develop your blockchain network and what are the advantages of using Hyperledger Blockchain Solutions.
Before getting into it, read on if you don’t have an idea of what Hyperledger is:
Hyperledger refers to a blockchain framework maintained by Linux Foundation and intended to allow enterprises to develop blockchain-based applications with agility. It can be referred to as one of the most sable, permissioned, enterprise-ready and general purpose blockchain development platforms.
Hyperledger Fabric allows developers to develop pluggable components into its architecture. For instance, a developer can plug in condenses as when he needs and in one the quickest ways possible. The enabling of this sort of modularity is because of its robust architecture. This is crucial as well as valuable when you are looking to get things in into the system. For example, to have a custom identity management system for users to access the blockchain platform developed on top of Hyperledger Fabric.
Hyperledger Fabric’s Channels can be considered as the most underrated features until now. Its channels enable developers for something called data partitioning. This helps in protecting the data that we want to safeguard.
Furthermore, this comes in handy when finance companies are willing to adopt the blockchain technology and express concerns about their competitors sneaking into their data. In fact, given the fact that hacker can hack cryptography perhaps in ten years when tried consistently, for companies and banks even a good cryptography is not enough.
With Channels on Hyperledger Fabric, you can allow exposing the necessary data and store the sensitive data to data partitions separately.
Not every blockchain network would need to be anonymous and exposing. Hyperledger Fabric enables all the participants to have specific identities. Permissioned blockchains refer to the ones that the finance organization require, given the healthcare and data protection in particular.
For instance, take into account the case of a mortgage company adopting Blockchain. Mortgaging is something that cannot be publicly exposed. This directs for the group of individuals to identify themselves in the network to confirm their authenticity.
The way Hyperledger manages the way transactions get executed is completely varied than others. This is for reducing the layers of trust and the number of processes of verification a transaction would need to have. Further, it enables transactions to happen quickly and better, without having any after effects.
The community that is developing Hyperledger Fabric is super live today. Our blockchain developers have been contributing to it. We also aim to become one of the leading contributors to Hyperledger Blockchain Solutions. With giants like IBM, Toyota and numerous other corporates adopting Hyperledger Fabric in the enterprising landscape, the community, as well as the support, are likely to grow exponentially.