Let’s start with what Hyperledger is not: Not a company. Not a cryptocurrency. Not a blockchain. Not an IBM blockchain coin. Hyperledger is rather something like a hub for open industrial blockchain development. On its website Hyperledger explains:
“Hyperledger is an open source collaborative effort created to advance cross-industry blockchain technologies. It is a global collaboration, hosted by The Linux Foundation, including leaders in finance, banking, Internet of Things, supply chains, manufacturing, and Technology.”
The “umbrella strategy” of Hyperledger incubates and promotes a range of business blockchain technologies, framework, libraries, interfaces, and application. Currently, Hyperledger is the host of the following projects
Frameworks & Tools
Hyperledger Burrow is a permissionable smart contract machine. The first of its kind when released in December 2014. Burrow provides a modular blockchain client with a permissioned smart contract interpreter built-in, part of specification of the Ethereum Virtual Machine (EVM).
Intended as a foundation for developing applications or solutions with a modular architecture, Hyperledger Fabric allows components, such as consensus and membership services, to be plug-and-play.
Hyperledger Grid is a WebAssembly-based project for building supply chain solutions. It includes a set of libraries, data models, and SDK to accelerate development for supply chain smart contracts and client interfaces.
Hyperledger Indy is a distributed ledger, purpose-built for decentralized identity. It provides tools, libraries, and reusable components for creating and using independent digital identities rooted on blockchains or other distributed ledgers for interoperability.
Hyperledger Iroha is an easy to use, modular distributed blockchain platform with its own unique consensus and ordering service algorithms, rich role-based permission model and multi-signature support.
Hyperledger Sawtooth is a modular platform for building, deploying, and running distributed ledgers. Hyperledger Sawtooth includes a novel consensus algorithm, Proof of Elapsed Time (PoET), which targets large distributed validator populations with minimal resource consumption.
Hyperledger Caliper is a blockchain benchmark tool, which allows users to measure the performance of a specific blockchain implementation with a set of predefined use cases.
Hyperledger Cello aims to bring the on-demand “as-a-service” deployment model to the blockchain ecosystem to reduce the effort required for creating, managing and terminating blockchains.
Hyperledger Composer is a collaboration tool for building blockchain business networks, accelerating the development of smart contracts and their deployment across a distributed ledger.
Hyperledger Explorer can view, invoke, deploy or query blocks, transactions and associated data, network information, chain codes and transaction families, as well as any other relevant information stored in the ledger.
Hyperledger Quilt offers interoperability between ledger systems by implementing ILP, which is primarily a payments protocol and is designed to transfer value across distributed ledgers and non-distributed ledgers.
Hyperledger Ursa is a shared cryptographic library that would enable people (and projects) to avoid duplicating other cryptographic work and hopefully increase security in the process.
Why to Use Hyperledger?
Hyperledger is delivering a blockchain platform designed to allow the exchange of an asset or the state of an asset to be consented upon, maintained, and viewed by all parties in a permissioned group. A key characteristic of Hyperledger is that the asset is defined digitally, with all participants simply agreeing on its representation/characterization. As such, Hyperledger can support a broad range of asset types; ranging from the tangible (real estate and hardware) to the intangible (contracts and intellectual property).
Plethora Of Network Platform
A wide range of network platform namely Hyperledger Fabric, Burrow, Iroha and Sawtooth that will support enterprises to access ledger data, oversee transaction, and integrate applications to blockchains.
Scalability And Transparency
Hyperledger offers distributed ledger called Smart Contracts. These contracts are the epitome of scalability and transparency in the private Business contract.
Hyperledger is designed on open-source platform to provide higher accuracy and stable security that are less prone to manual error in the transactions occurring in the Blockchain.
Trustworthy Business Model
Businesses using Hyperledger can easily reduce the cost and complexity of the legal restraint involving Blockchains due to its open-source platforms.
Hyperledger is created by The Linux Foundation which was done solely for the objective of creating open source blockchain and its related tools for utmost security and reliability.