Building a blockchain for business with the Hyperledger Project

Building a blockchain for business with the Hyperledger Project


Hyper ledger is one of the
fastest-growing open-source blockchain communities anyone can help lead it and
dozens of companies are working together building a blockchain fabric that can
support production business networks the work started last year with a simple
framework to test the interaction between applications and secure
blockchain networks and it’s allowed us to test use cases in supply chain
Capital Markets manufacturing and healthcare here’s what we learned first
we learned that permission blockchain networks that require every peer to
execute every transaction maintain a ledger and run consensus can’t scale
very well and they can’t support true private transactions and confidential
contracts so the hyper ledger community designed fabric v1 to deliver a truly
modular scalable and secure foundation for industrial blockchain solutions the
most notable changes that peers are now decoupled into two separate runtimes
with three distinct roles endorser committer and concentr here’s how it
works say you run an organic market in
California and I grow radishes on my farm in Chile you and I are in a
blockchain network that supports transactions between various markets
growers shippers banks and others say I agree to sell you my radishes at a
special low price but I need the other markets that buy
for me to continue buying at the standard price they shouldn’t be able to
execute our confidential agreement and find out the details of our deal in fact
if they aren’t part of the deal the transaction shouldn’t appear on the
ledger fabric v1 handles all this my app looks up your identity from a
membership service and then sends the transactions only to our peers both of
our peers will generate a result in this two-party agreement the transaction
requires both of us to render the same result but in transactions with more
parties other rules can apply then the peers send the validated transaction
back to the application which sends it to a consensus cloud for ordering and
then the ordered transactions are sent back to the peers and committed to the
ledger but to get my radishes to your market there are many other parties
involved some need to know that my radishes have been verified and checked
into a shipping container others need to handle bills of lading customs
inspections financing insurance but most of these parties don’t need to know
about our special price now think about our transaction running
out of network handling all the markets all the farms shippers facilitators the
whole supply chain this is the same pattern needed by many industries
anywhere we need to manage confidential obligations to each other without
passing everything through a central authority b1 delivers one network with
everyone working together while ensuring confidentiality scalability and security
and that’s what we’re building right now and we could use your help so how do we
get there go to hyper letter to find out

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About the Author: Oren Garnes

20 Comments

  1. What's incentive Hyperledger provide in order to motivate individual to participate and to co-create? Is it possible to verify that Hyperledger is indeed delivering truly modular, scalable, and secure foundation for industrial blockchain solutions?

  2. Will taxmen not seek details of transaction? Have banks agreed to such a proposition? Considering there are compliance issues in international trade settlements?

  3. You can burn the development money you put into hyperledger, same result. Ethereum is going to empower humanity and is building a decentralized human owned Blockchain which will be the web 3.0, the crypto economics age.

  4. Look I am into bitcoin heavy and I watch the market like a hawk. Bitcoin is not a flexible currency, it is limited in supply and it is deflationary which will prevent it from being used for credit such as bonds and lending. Those factors spell an ultimate end to bitcoin but not before it will offer great opportunities for profit. Hyper Ledger is the only thing that makes sense for industry and commerce. Block chain as great as it is is too slow and too expense to run. I am in and will continue to buy until it becomes too common and then I am out. You know when you reach your limit when you hear everyone talking about. That is the time to sell. Hper Ledger will not be offered in a crowd sale since it is being developed by Linux and IBM. I am not sure how they will profit from this venture since the code is open source. However, the concept makes sense and quantum computers projected to arrive sometime in 2027 will allow people to break the break block chain security. So perhaps IBM will be he producer of such hardware.

  5. Want to learn hyperledger fabric and take your career to the six figure mark? www.hyperledgertalk.com has everything you need to know!

  6. Thanks for the article!Dash Coin (DASH): The Fastest Growing Blockchain Network?
    http://cryptodetail.com/dash-coin-fastest-growing-blockchain-network

  7. Blockchain Development Services and Artificial Intelligence Services works in sync to integrate the smart logic into every

    bit of data. Hyperledger Blockchain Development enables blockchain for businesses in Canada whereas Ethereum Blockchain Platform provides solutions to local communities and global enterprises. Visit Us @ https://cipherhut.com/

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