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Hyperledger Fabric: Business Use Cases

Posted on by Shipra

Talking about Hyperledger Fabric, it came up in the year 2015.  Hyperledger was built by Linux Foundation along with the involvement of IBM. It is often referred to as the backbone of many blockchain enterprise systems. The aim of creating Hyperledger was to increase efficiency among multiple businesses. It consists of several strategies such as the umbrella strategy, with the help of which, promotion of several blockchain technologies along with other frameworks, libraries and applications can be done as well.                                        

Advantages And Business Use Cases of Hyperledger Fabric

Hyperledger has several advantages such as permissioned membership, performance and security of data. Let’s run through business use cases of hyperledger fabric.

Pharmaceuticals

Below mentioned are some of the important use cases For Pharmaceuticals. In April 2017, IBM announced that a number of new blockchain enterprise system will be built on Hyperledger Fabric. For pharmaceuticals, partnership was done with Chinese conglomerate Sichuan Heija.  Security of the finance is quite difficult for the small and middle-sized retailers as the credit system is not much developed. Also, credit evaluation is not established. The payments are often late around 60-90 days after the pharmaceuticals have been delivered.

However, with the help of Hyperledger tracking of drugs can be done easily that too all the way through the supply chain thereby encrypting trading records. With this, the payment period will be reduced and also the credit risk will be lowered too.

Trade Financing

A platform was created for trade financing in the same month of April 2017, with partnership of IBM and Japan’s Mizuho Financial Group and Mizuho bank. With the help of this, there was a reduction in the time of deal processing from a couple of days to a couple of hours. Over and above, there was a noticeable reduction in cost of labour. Further, it provided more transparency to the process.

Education and Training

For the improvement of education for  the students in t in April 2017, IBM partnered with National University of Singapore for the development of the module on financial technology. It was implemented in the year 2018. And, the main aim of the module is to make students know the technologies behind the distributed ledgers and various cases where they are used.

Smart Energy Management

This project was announced in May 2017 along with the partnership of IBM with Tenne T, Sonnen and Vandebron. Here,  a database is being developed to manage the electricity grid in Germany and Netherlands. With the help of this, the areas that are lacking in electricity will be identified. Also, with the help of other electric resources the power gap will be filled. The sources include electric cars, batteries etc.

Supplychain

In the past years, global commerce has shown exponential growth with around 246.15% increase. By 2021 it is expected that it will reach $4.5 trillion. In December 2017 IBM partnered with Walmart to track food staples from supplier to shelf. The supply chain is quite larger. And, due to this technology only, the proper supply is being made. Due to this more retailers are wishing to collaborate and are showing interest in Hyperledger.

Conclusion : 

Hyperledger is not just only about blockchain, it goes far beyond that, extending in both business and manufacturing worlds. 

The main purpose of hyperledger fabric is for high-scaling business applications, creating and delivering structured solutions for enhancing and making the most effective use of existing processes, as well as establishing new ones. Research has proven it to be a secure blockchain enterprise network with huge potential, where every business can benefit from. 

 

A Beginner’s Guide To Hyperledger Blockchain

Posted on by Shipra

A hyperledger by its functionalities simplifies multiple process and operations on an enterprise level that helps you to transform your business with enhanced competitive advantage. Every hyperledger blockchain development company is focusing on how to use the decentralized distributed ledger system to automate processes and enhance business operations. With the need to control and monitor transactions in real-time, blockchain development companies have grabbed the opportunity to use blockchain in developing hyperledgers.

What is Hyperledger Blockchain?

Hyperledger is a blockchain technology-based tools that uses smart contract to create a globally distributed system. Such a kind of system allows transaction of data in real-time instantly without any lag, delay and also accomplish tasks with complete transparency. Hyperledger blockchain, when implemented successfully,  deploys an immutable business model that advances every business with profitable opportunities and bigger ROI generation.

Hyperledger provides multiple services such as open sourced security in applications and networks, higher accuracy rate in outcomeof operations, reliability in data transferred. This in turn increases the scalability of the business with confidence too. Hyperledgers build value to the existing system by integrating existing processes without the need for complete replacement of creation of a new infrastructure. Hyperledger blockchain also allows users to identify, track and trace back transactions to its source.

Hyperledger Blockchain, why do we need it?

Every industry especially after the birth of blockchain understood and realized the importance and need for running multiple operations and transactions simultaneously. But, this was not a major challenge either due to lack of hardware or inefficiency of hardware compatibility with software. Thus, the birth of hyperledger happened.

Hyperledger, how does it work?

Hyperledger directly connect peers and it is a perfect example of a P2P connected network. Any third-party of middlemen involved in the transaction will only be able to view and access very limited amount of information. However, hyperledger focuses on eliminating third-party services completely which will also be accomplished in the near future. It ensures that peers only with necessary permission and regulations can access data and information.

Hyperledger blockchain

(Image source: www.edureka.com)

Important Initial Hyperledger Framework Projects

Hyperledger Fabric

Hyperledger Fabric is a blockchain based hyperledger network that operates on a permission basis. These permissions can be customized and according to the preference of the enterprise consortium. It focuses on breaking down complex functions to provide simple enterprise solutions. The modular infrastructure of hyperledger fabric allow developer members to achieve consensus easily. Also, its smart contract known as chain code is beneficial as it connects multiple operations simultaneously. Yes, finally mission accomplished.

Hyperledger Burrow

It solely focuses on the usage of smart contracts and its integration with Ethereum Virtual Machine (EVM) to execute functions and internal operations automatically. In this system, all peers and nodes distribute information instantly without the requirement of a complete full disclosed signatory. It is known for avoiding gossip.

Hyperledger Iroha

It provides algorithms known as Byzantine Fault Tolerant (BLT) which is developed using C++ and is allows remote access to data and information. Enterprises can execute important functions and operations remotely and handle digital transition of assets conveniently. However, it is a little similar to hyperledger burrow because I also allow peers to transact data with the need for a signed transaction and just a half-signed proof of evidence is sufficient.

Hyperledger Sawtooth

It is simple hyperledger that provides typical decentralized functions to develop a simple distributed ledger. Hyperledger Sawtooth helps organizations to prevent data manipulation and face data storage challenges by building private or public large networks for data storage. It also ensures that all data stored is permanent and cannot be erased, deleted or manipulated.

Hyperledger Indy

It provides a library of decentralized features that allow building Distributed Ledger Technology (DLT) with a purpose. It allows components to be re-used and thus saves a lot of time and cost. Hence, this hyperledger increases the independency of operations by providing proof of authentication for all identities too. In short, this hyperledger is known for enhancing the communication between peers.

Tools Used To Develop Hyperledger Blockchain

Hyperledger Composer

It provides a quicker, faster and enhanced instrumental components that improves the smart contract operability. In addition, it creates a circulated environmental record and storage.

Hyperledger Cello

It a framework builder that helps to build advanced technology systems or automated infrastructures to oversee decentralized operations.

Hyperledger Explorer

It focuses on arranging data, conveying information, exchanging necessary data in chain codes for better interoperability between data transfers. Further, it omits all unnecessary data automatically based on the parameters set.

Hyperledger Quilt

It executes functions after interconnecting all data together to ensure that the data is of utmost quality and reliability. Also, it is an appropriate tool to use when the need for developing a record or storage system  does not require a typical circulatory environment.

Conclusion: Hyperledger is An Advanced Undertaking of Blockchain Taken To The Next Big Step

Hyperledger is easy to handle though it may be complex to understand in the initial stages. But, with practice and continuous usage, it becomes a piece of cake and you can gladly wave goodbye to traditional based data storage and transfer systems. It is currently attracting more and more industries to take part in its network and join the community to race towards a better future ahead in the digital ecosystem.  Let us know, what more would you like to know about hyperledger?

 

Insights on Enterprise Blockchain Development With Hyperledger Fabric And Composer

Posted on by Shipra

Enterprise blockchain refers to the usage of blockchain in an enterprise level for the benefits that blockchain offer organizations. These benefits including usage of decentralized platform for enhancing the client server model that allows clients and customers to operate without having to worry about any third-party involvement. It also helps in enhancing the transparency in operations and increases the accountability, thus enhancing the security and privacy in return.

enterprise blockchain development

Enterprise Blockchain Development With Hyperledger Fabric And Composer

So, what is this hyperledger that people keep talking about that is used in enterprise blockchain development? Hyperledger is an open source blockchain platform that is supported by big giant such as Intel and IBM for supporting and developing distributed ledgers that operates with blockchain. Now, that we know what is enterprise blockchain and hyperledger, it is time to see what is blockchain development on hyperledger fabric using composer. This article discusses about hands-on enterprise blockchain development with hyperledger fabric and composer.

Hyperledger Fabric For Enterprise Blockchain Development

Hyperledger fabric is a framework of blockchain that is implemented by the foundation of Linux. It is a framework of blockchain that has the permission to provide an enterprise level application for efficient transaction handling. Developers familiar with the concepts of blockchain feel easier to use hyperledger fabric because its concepts are similar to blockchain platform.

Enterprise blockchain developers use hyperledger fabric because it uses cryptographic techniques and also support smart contracts for enhancing the operations. They increase the traceability and track operations in real-time.

Benefits of Developing Enterprise Blockchain With Hyperledger Fabric

Increased privacy and enhanced security

Hyperledger fabric uses hardware security module (HSM) and thus ability to safeguard data and provide unique decryption keys is easier. This provides a strong process of authentication. Hyperledger fabric uses PKCS11 which is an unmodified authentication tool, for generating the unique decryption key. This supports and enhances digital identity protection and protection of any and all sensitive data.

Provide multiple plug-ins for customization

Unlike other tools, hyperledger fabric provides enterprise blockchain developers with the ability to use a modular architecture that supports multiple plug-ins and components. Thus, developers can customize and develop infrastructures and private network according to the preferences of your enterprise. With this ability, developers are able to re-use and re-build the blockchain code. These plug-ins include encryption and consensus tool. Developers can even create their own standards of encryption for catering to your need.

No digital identity theft with permissioned membership

With hyperledger fabric, enterprise blockchain developers can provide you with an infrastructure where all the stored data becomes a need to know basis. With hyperledger fabric, developers build a framework with permissioned network. With this permissioned network, sectors like finance and healthcare industry can store data with high protection and only authorized personnel will have access to specific data.

hyperledger fabric

Hyperledger composer for enterprise blockchain development

Hyperledger composer has the ability to combine different tools together and provide you with enhanced smart contracts that increase the rate of operability for any and all of your business functions. Thus, it suffices to say that hyperledger composer allows enterprise blockchain developers to create a robust infrastructure and organize operations to provide a structured operational alignment for your business requirements.

The important pros of using hyperledger composer is to speed up the process of development and also speed up business operations. The important notable features are that, hyperledger composer provides a pool of high-end API’s and components.This makes communication easier with the built network, especially if it has an underlying hyperledger fabric that is used for running the enterprise blockchain.

Enhanced collaboration between developers

Hyperledger composer has a pool of existing guidelines and experts with high-skills and experience in enterprise hyperledger blockchain development. Thus, even a beginner or a person without any knowledge on enterprise blockchain development can get the help existing experts and develop a robust and client favorable enterprise blockchain.

Hyperledger composer

Easier configuration that saves a lot of time

Hyperledger composer is used for easy building and development of enterprise blockchain. This is because of its ability to combine multiple tools and components with ease. With this ability enterprise blockchain developers can configure even the core components for developing digital networks and provide accessibility to network control according to your preference. Enterprise blockchain developers find it easier to generate scripts and use API’s to cater to the requirement of your enterprise.

Faster real-time testing

Unlike other tools, hyperledger composer does not require a local installation or a web-based component to build, develop and perform a real-time testing.  Hyperledger composes provides enterprise blockchain developers to create their own blockchain environment and run a sample tests hassle-free. These sample tests also is given the appropriate permissions and granted a restriction free testing environment. Thus, defining roles for each user and validating the results is quick and easier.

Conclusion: Step up your enterprise blockchain development with Hyperledger Fabric and Hyperledger composer

Hyperledger fabric and hyperledger composer has its own characteristics and benefits of its own that provide enterprise blockchain developers with different features and functionalities.

In simple words, hyperledger fabric focuses more on privacy and security and hyperledger composer focuses more in providing faster operability. Hyperledger composer supports more combination of APIs, components and tools compared to hyperledger fabric.

Hyperledger fabric allows developing customized privacy and secured network which is not possible with hyperledger composer. Choose the right fit for your enterprise blockchain development. Good Luck.