Hyperledger, the blockchain technology I see being readily adopted by businesses and why.

I’m still relatively new to the crypto space, and I have to say that my journey so far has been a very exciting one. Since venturing into the realms of cryptocurrency I have been heavily engrossed in everything and anything crypto related. I now find myself reading up daily on the latest ICOs, and regularly trawl Reddit for the latest news and announcements just to stay ahead of the game. This is usually followed up by routine checks to Blockfolioto monitor my crypto assets and visits to Coin Market Cap, (the source of truth when it comes to the crypto markets) just to gain an overview on how the crypto economy is doing.

I’ve even invested in a few Altcoins (coins other than Bitcoin), ICOs (Initial Coin Offerings)and have also had the pleasure of being scammed too (Happens to the best of us, boy was I naive!). More info about the scammers Bitpetite here.

With all the excitement of the potential to make lots of money investing and trading in crypto, it can sometimes eclipse the underlining technology (blockchain) to which this article is referring too.

As a developer, I was naturally drawn to the technology behind cryptocurrencies and wanted to find out more. After getting the basic gist of what a blockchain was and how the concept decentralisation worked within those confines, I instinctively knew this technology was gonna change the world. It then made sense to look at the technologies in which these blockchains could be constructed and interacted with just so I could learn them. Ethereum being the most popular Altcoin based on market cap, was my first choice, so I decided to look into Solidity, the language used to write their smart contracts.

If you are familiar with the concept of how a blockchain works and the concept of decentralisation, you will know that the blockchain ledger is accessible and publicly available to anyone. With this, I mean that If I was to obtain the public address of your wallet I could see every transaction that occurred to and from your wallet. Now there are good and bad sides to this, but for businesses, especially with ones that deal with sensitive data, this would be a breach of data protection. Factor this in with the scalability issues that they are currently facing with PoW, (they hope to resolve this with Casper in their next hard fork), I was quite reluctant to learn this new language. Also, the language Solidity itself has been described as having similarities to JavaScript and C but essentially is its own language which you must learn and understand in order to write their smart contracts. If you’re a competent developer you can pick this up quite quickly, but I didn’t like the idea of having to learn a new type of language, I would have preferred the ability to use an existing language like Go, Python or Java. I wanted to learn a blockchain technology that would be widely backed by a strong open source community, resolve the issues with data privacy and scalability and would be future proof. My search led me to Hyperledger but more specifically Hyperledger Fabric.

So what is Hyperledger?

Hyperledger is a collaborative effort for the advancement of cross-industry blockchain technologies. This open source project is hosted by the Linux Foundation and is backed and lead by industry leaders in various sectors such as manufacturing, finance, and banking to name a few.

Unlike most typical blockchain technologies, it allows for multiple blockchains from these different sectors to interact with one another in a secure way.

What is Hyperledger Fabric

Hyperledger Fabric is one of many frameworks offered by Hyperledger in order to develop applications or solutions in a modular way. I’m still learning lots about this technology but I’m finding it to be my most favorite one so far. These are some of the key features of the framework offers:

  • Channels for sharing confidential information
  • Bring-your-own Membership Service Provider (MSP)
  • CouchDB world state supports wide range of queries

Overall if you’re looking for a solid blockchain technology and framework that is enterprise ready to learn, I highly recommend looking to Hyperledger.

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