Before getting into Hyperledger, let us just get familiar with the industry that will lead us to it. That is nothing but Blockchain. For the past decade, Blockchain radically transformed the operating models of the industry by creating a system which is extremely safe and secure. Blockchain is a form of database which is used by businesses to protect privacy.
Hyperledger is such a technology which is an open-source and collaborative effort of big enterprise to make a technology that can meet the corporate demands.
What is Hyperledger?
Linux Foundation created Hyperledger, an umbrella project which offers various toolsets and frameworks for developers and businesses.
Hyperledger ensure peer-to-peer transmission and decentralization.
Its extreme security, interoperable nature, modular design, high-end API (Application Programming Interface) support and cryptocurrency-agnostic design architecture are the reasons that many industries such as banking, healthcare, government, IT, entertainment industry can be benefited.
So how can Hyperledger help us?
Let us dive deeper into some reasons for why you might choose Hyperledger as the foundation for your project.
1. Enhances productivity: It ensures team effort. A team consists of different skills. Every team member can work on something specific, in this way the development doesn’t get hampered. It provides more expertise and skyrocktes overall productivity.
2. Handles intellectual property:
a. Hyperledger brings together vendors, developers, and users from across the globe under a single platform by working as a blockchain greenhouse.This greenhouse architecture helps to ensure consistent care of the intellectual property.
b. It uses the Creative Commons Attribution 4.0 International license and Apache 2.0 license of code which safeguard intellectual property.
c. Since the legal issues are taken care of, it also gets rid of the complex contractual nature of agreement.
3. Complex access to data except required parties: Since it offers physical separation of sensitive data, Hyperledger channels allow distribution of data only to those who need it.
4. More query functions: The filesystem of Hyperledger incorporates LevelDB. It has a key value database and supports keyed queries, composite key queries, and key range queries.For complex and rich queries, using couchDB is good, because it supports the basic capabilities of LevelDB, and adds the full data-rich queries.
5. Performance, Scalability and level of trust: Hyperledger’s modular architecture divides transactions into three phases: distributed knowledge processing and agreement, transaction validation and commitment, and transaction ordering. These steps decreases the need for verification, optimizes network scalability and performance.
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