Hyperledger Fabric seems to be underpinning every new blockchain project launched by banks, corporations, governments, or independent outlets. It is mentioned in many corporate news releases, usually indicating that the DLT project is in some way involved with the enterprise level technology. Over 159 engineers from 27 organizations contributed to the project.
So what is Hyperledger Fabric?
To start, there is Hyperledger Fabric, and then there is Hyperledger. Hyperledger is best described as a center for blockchain promotion and innovation, facilitated by the Linux Foundation. Hyperledger initially created five projects – Fabric, Sawtooth, Indy, Burrow, and Iroha.
These projects are not yet interoperable. There are also a number of tools- Caliper, Cello, Composer, Explorer, and Quilt. Hyperledger Composer development was identified as one of the fastest growing jobs in a 2018 Upwork job report, where blockchain demand increased 6000%.
Essentially, Hyperledger Fabric hosts smart contracts called chain code. IBM is heavily involved in its development and distribution. It is ideal as a plug and play technology that allows integration between DLT services and traditional institutions. It is an architecture for developing blockchain applications and a framework for permissioned networks. It is designed for enterprise use and has become the de facto technology for large companies interested in launching DLT related endeavors.
The reasons that it is so beneficial to enterprises is that it is permissioned and private, with low latency and high throughput. It is DLT designed for enterprise-level organizations. While many platforms have been adapted to enterprise use, this has been designed for enterprise level projects.
Some of the current large-scale projects that are relying on the Hyperledger Fabric include –
1. The Amazon AWS blockchain template.
2. The IBM blockchain (and nearly all of its subsequent DLT services provided to companies and governments).
3. Russian crypto index funds.
4. A huge Dutch logistics company.
5. Russian commercial blockchain bonds.
6. Three regulated Indian lending institutions.
7. European enterprise application development firm SAP SE.
This is only a small sampling of a much longer and growing list of Hyperledger Fabric reliant undertakings. IBM and CLS recently launched a Proof of Concept for a blockchain application store built on the technology, known as LedgerConnect. It is intended to provide applications to banking institutions so that they can integrate DLT services. This will save banks having to build their own customized DLT infrastructure, and they can simply download an application from a store for seamless integration.
Digital Nomad with an interest in Zen and Blockchain technology.
Law graduate with 3 years experience as a consultant in the capital markets industry and 4 years experience freelancing on UpWork as a Creative Writer.