Before going to read about Hyperledger, first, you have an idea about ‘Cryptocurrency and Blockchain technology’.
Cryptocurrency :
The digital currency that uses a decentralized system to record transactions. It has no central issuing or regulating authority.
Bitcoin, which was the first blockchain-based cryptocurrency that was launched in 2009. It was created by an individual or group known under the pseudonym, Satoshi Nakamoto. Today, there are thousands of alternate cryptocurrencies with various functions or specifications. Some of these are bitcoin, litecoin, zcash, titcoin , bitcoin cash etc
Blockchain :
The blockchain is a digital ledger which is mostly used for economic transactions. It can be programmed to record financial transactions as well as everything of value. Blockchain has built-in robustness which means by storing blocks of information that are identical across its network, the blockchain cannot be controlled by any single entity and has no single point of failure.
Hyperledger :
Hyperledger is an open source platform which is created to advance cross-industry blockchain technologies. Linux Foundation plans to build an environment in which software developer communities and companies meet and coordinate to build blockchain frameworks. Hyperledger has an awesome list of more than 100 members which includes tech giants like J.P. Morgan, American Express, Huawei, Nokia, Intel, Samsung etc.
Actually, Hyperledger is not a company or cryptocurrency or blockchain. It is a collaborative effort to use blockchain potential to solve business issues.
Some of the hyperledger projects are
- Hyperledger Sawtooth
it is used developed by Intel which uses a new algorithm called Proof of Elapsed Tim
- Hyperledger Iroha
It is created by some Japanese companies to an easy framework for blockchain
- Hyperledger Fabric
It is a project lead by IBM which is designed to develop high-scaling blockchain applications
- Hyperledger Burrow
This project develops a modular blockchain client with a permission smart contract interpreter along the specification of Ethereum
- Hyperledger Composer
It is a set of collaboration tools for building blockchain business networks
For business purpose, Hyperledger is the best solution. Many companies accepted Hyperledger such as Airbus, Intel, Cisco, SAP, Accenture. IBM joined with Hyperledger to meet modern business demands. Industries were interested in Blockchain when the bitcoin cryptocurrency is introduced, which is a platform for bitcoin. Hyperledger maximizes the confidentiality and flexibility of blockchain.
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