Hyperledger Fabric
Candlefocus EditorHyperledger Fabric was designed by IBM to address the scalability and transaction latency issues of public blockchain networks. Because Hyperledger Fabric is private and requires permission to access, businesses can segregate confidential information and can keep the network size to a minimum leading to small network latency and faster transactions.
Hyperledger Fabric 2.0 was released in January 2020 to bring the latest improvements to the platform’s feature-set. The major features of this version are faster transaction times, an improved smart contract language and data sharing between various entities.
Hyperledger Fabric is made up of several components, including the ‘chain code’ which is the Fabric’s software, the peer nodes which are tasked with maintaining the state of the ledger, the consensus algorithm which ensures a secure synchronization of all transactions and the membership services which facilitate authorization and authentication of different peers on the network.
This platform benefits from the latest technological improvements such as distributed storage solutions, enterprise security features, privacy protections and scalability for businesses who are moving towards the use of distributed ledger technology. Hyperledger Fabric is secure and is used in various industries ranging from financial services, supply chains, health care and many more. It provides a reliable platform for businesses to develop secure applications on top of it.
By offering an enterprise-level platform for collaboration and data exchange, Hyperledger Fabric is becoming an important part of the distributed ledger technology toolkit and is bringing realism to the vision of a truly verifiable, secure and autonomous digital economy.