Introduction to Hyperledger Fabric?
Hyperledger Fabric is an enterprise-grade, distributed ledger platform developed under the Linux Foundation umbrella. Its widely adopted private blockchain framework is created and further developed for the benefit of enterprises. Among other benefits, it helps making data transfer between businesses more efficient and transparent. Being flexible and agile, the system allows businesses to add different functionalities and personalize them to their needs.
This distributed ledger framework offers extensibility and versatility for a broad set of industry use cases. The modular architecture of Hyperledger Fabric suite accommodates the diversity of enterprise use cases through plug-and-play components, such as consensus, privacy, and membership services.
The main goal in blockchain and distributed ledgers is enabling decentralized information systems to make processes more secure, trusted, cost-efficient, and sustainable. Working on a shared network allows companies to access the same information in a more secure way, without the need for intermediaries and without the need to spend additional time and effort to process and validate the information.
Translated into real business benefits this means cost reductions, great process improvements, risk reduction, greater assets tracking and predictability, data aggregation, connected markets, and new revenue and business models.
Key features of Hyperledger Fabric
- Permissioned architecture
- Highly modular
- Pluggable consensus
- Open smart contract model – flexibility to
implement any desired solution model
- Low latency of finality/confirmation
- Flexible approach to data privacy
- Multi-language smart contract support:
- Designed for continuous operations, including rolling upgrades and asymmetric version support
- Governance and versioning of smart contracts
- Flexible endorsement model for achieving consensus
across required organizations
Advantages of using Hyperledger Fabric as an enterprise blockchain
- Developed for private networks and enterprises – Hyperledger, supported by The Linux Foundation and other tech giants, is focused on enterprise transaction-based applications.
- Flexible architecture – Its modular architecture provides flexibility and allows organizations to choose what they need and build applications based on their business requirements.
- Permission membership – On a company level transactions are visible only to the parties with permission to view it, but not the whole organization.
- Higher transaction speed / Faster data transactions – Hyperledger Fabric is able to process more than thousand transactions per second. This makes it preferred framework for businesses and corporations.
- Supported technology – Supported by the richest development community and tech giants like IBM, Intel and Cisco ensured stability and confidence in Fabric’s future.
- Private channels of communication – Private channels are created in order to enable companies with large networks to share data only with certain parties.
Popular Business Cases
- Trusted digital relations – credentials and Digital Identity
- Optimized Claim Management through reducing claim resolution time using DLT
- Tracking assets
- Trust your supplier and know your supplier
- Risk management and fraud prevention through tamper-proof traceability.
- Process improvements and automation
- Real-time monitoring
- Trusted third parties interactions/communications
- Smart cities
- Secure payments
LimeChain is specialized in helping businesses of any size and industry design, build and scale Blockchain & DLT Solutions using Hyperledger technologies. We are specialized in building Blockchain solutions, providing a full spectrum of development & consulting services that result in comprehensive, user-friendly solutions that drive our clients’ business forward. We have been a trusted partner to over 100+ Enterprises and Blockchain entrepreneurs, helping them adopt the newest technologies to optimize processes, remove bottlenecks, adapt, innovate and lead through Blockchain & DLT solutions.
Check this article to see how Hyperledger compares to other Enterprise Blockchain Platforms – Enterprise Blockchain Platforms – Current state and Further Development.
Idea validation & Scoping
We kick off with idea validation or Design sprint. We map out problems, agree on a low-fidelity prototype and test the idea before investing in building it. After that, we continue with the real project scoping by analyzing needs, business models, technological challenges and choose the best technical approach towards the solution.
PoC & Prototyping
We investigate project scope and develop a Proof of Concept solution, Minimum Viable Product, or Prototypes that could be further scaled in the future. We use agile development and prioritize speed to market.
Each project has its dedicated team, in accordance to the project-specific technological needs. The team stays in constant communication with the project founders and product owner while working in two-week development sprints. By using an agile development methodology, we ensure flexibility and timely delivery.
Support & Scale
After product delivery, we can allocate a team of engineers with a deep understanding of the project and related technology, that will be available for maintenance and support, as well as further development of the product. We select the most suitable maintenance and support model for different needs.