Hyperledger: A Blockchain Believer and Beyond
The existence of now-famous enough Blockchain technology has crossed many years, and over these years, the technology has transformed a number of industries and functions to a significant enhancement. This tech revolution attributes to those organizations who trusted the emerging technology of blockchain while developing it for various utilizations across the globe.
One such initiative for blockchain and its applications was taken years ago, by Hyperledger. In order to spearhead the revolution of blockchain, Hyperledger has been paving the way with its leaders in finance, banking, Internet of Things (IoT), supply chains, manufacturing, and technology. It has emerged as a worldwide collaboration having support from the popular tech giant, i.e. The Linux Foundation.
What is Hyperledger?
Hyperledger is an entity dedicated mainly to the blockchain as it defines the technology as a peer-to-peer distributed ledger that is combined with a system for “smart contracts” and other similar technologies. Operated by Linux Foundation, the organization calls itself an industry-wide open source initiative to advance blockchain technology. Hyperledger is basically a vast team of software developers who function to develop blockchain frameworks and platforms.
It is focussed to offer transparency, longevity, interoperability, and support to evolve the blockchain technology for the betterment of industries, especially in the financial space. Hyperledger strongly stands a collaborative approach for blockchain, while it supports the open source nature of blockchain.
At present, Hyperledger, the blockchain initiative consists of 21 members in its governing board. The blockchain based organization joined hands with Linux Foundation’s top-level executives in order to appoint an executive director for Hyperledger. It found its executive director in the Co-Founder of the Software firm Apache, Brian Behlendorf. He was appointed to the role in May 2016. Behlendorf illustrated Hyperledger as a ‘Business Blockchain Umbrella.’
Projects So Far:
It is a permissionable smart contract machine by Hyperledger, released in December 2014, designed to provide a modular blockchain client.
This project was established to build applications or solutions with a modular architecture. It enabled membership services, to be plug-and-play.
It helps to develop supply chain solutions. It serves as a WebAssembly-based project.
Tools by Hyperledger:
The Hyperledger umbrella also covers tools. It has come up with tools such as Hyperledger Caliper, Hyperledger Cello, Hyperledger Composer, Hyperledger Explorer, Hyperledger Quilt and Hyperledger Ursa.
Remarkably, Linux Foundation has introduced around 70+ open source organizations, In which Hyperledger has been established as the fastest growing one. Also, the way this ‘Blockchain Umbrella’ has carried out several projects built on blockchain, it seems, blockchain technology will continue to flourish in safe hands.