Hyperledger is a joint initiative of many companies, based on open source code. It aims to develop blockchain technology in industries where a chain of blocks can be used to implement new solutions or improve existing ones.
The leader of the Hyperledger project is the Linux Foundation. It is a non-profit organization composed of companies such as IBM, Intel, Oracle, Microsoft, Samsung and many other developers. Founded in 2000, the Linux Foundation is an organization selected by the best programmers and global companies to develop open technologies and commercial projects. Together with the global community of programmers, it solves the most serious technological problems, creating the largest open-source technology investment in the history of the company.
It should be noted that Hyperledger is neither cryptocurrency nor one specific blockchain. It is neither a company nor a corporation. It should be treated as a project in which dozens of companies work. The project combines the strengths of the strongest technological players, among other things, to harness blockchain technology.
Short story of Hyperledger
Hyperledger was introduced to the world in 2016. Initially, the project management committee accepted for incubation Hyperledger Fabric created by IBM, Digital Asset and Blockstream, as well as Hyperledger Sawtooth developed by Intel Group.
The project management board, which now has 21 members, has worked with the leaders of the Linux Foundation to recruit an executive director. May 2016 Brian Behlendorf, co-founder of the Apache Software Foundation, was appointed to this role. Behlendorf did not waste any time and actively helped the community to define the strategy. In September, he described Hyperledger’s vision as a business “umbrella” blockchain.
He spoke about the project himself in the following way:
“The most valuable role that the project can play is to be a trusted source of innovative, quality oriented open source programming community; creating modular components and open source platforms. Everything is focused on distributed book technologies and smart contracts. If Hyperledger can create a brand that is widely perceived as a “safe” platform, a kind of implementation standard for corporate teams, and can also be seen as a great base for active cooperation in new technologies, then I think we can say that my mission has been accomplished.
Why doesn’t Hyperledger create his own cryptocurrency?
Behlendorf also added that Hyperledger would never release his own cryptographer to avoid any political involvement in the project.
In the second part of 2016 and 2017, a technical committee added 7 more source codes for business blockchain applications. The number of corporate and associate members has risen to almost 200. With over 70 open source organizations running by the Linux Foundation, Hyperledger stands out as the fastest growing.
Today, it brings together leading companies in the financial, banking, manufacturing, technology, and IoT industries. The project includes such giants as Airbus, American Express, Cisco, Daimler, Deutsche Bank, Fujitsu, IBM, Intel, J.P. Morgan, R3, State Street, SWIFT, Wells Fargo and many others. The full list is available at this link.
The project is taking more and more projects under the umbrella
According to the creators themselves:
“Hyperledger incubates and promotes a number of blockchain-based business technologies. This includes distributed registries, intelligent contract engines, client libraries, graphical interfaces, tool libraries and sample applications. Hyperledger’s greenhouse strategy encourages the re-use of common components and enables rapid innovation of DLT components.
The consortium is constantly adding newer and newer projects under the umbrella. The current list can be divided into solutions focusing on distributed registry technologies, libraries and tools. It also associates projects closely focused on a selected niche or industry. Below are listed briefly all of them:
It is intended to provide a general set of tools for creating, transferring, storing and verifying authentication data.
Provides privacy to blockchain transactions by moving operations from the main blockchain chain to improve blockchain scalability.
A client of Ethereum, which operates within the Ethereum public network. It also operates in private networks and test networks such as Rinkeby, Ropsten and Görli.
Complete distribution of a single binary chain of blocks focused on the simplicity, speed and ergonomics of the programmer. It also supports intelligent contracts. It has a sophisticated event system and can maintain relational database mapping in the chain. Management and licensing is built in and can be changed by transactions involving proposals in the chain. It is optimized for public PoS projects, but can also be used in private networks / consortium.
Blockchain Benchmarking Framework, which allows users to measure the performance of a specific blockchain implementation using a set of predefined usage cases.
Helps reduce operating and management costs for users/creators of blockchain applications. It is simply a blockchain operating system.
It has the task of operating on data in blockchain, it is simply a web interface blockchain.
The most popular project since IBM. It is designed to create applications with modular architecture. Hyperledger Fabric technology allows to run multiple components at the same time. Its modular and versatile construction responds to a wide range of industrial applications. It offers a unique approach to consensus that enables large-scale performance while maintaining privacy (more than a thousand transactions per second).
It is a platform for building supply chain solutions that include elements of a distributed data register.
A distributed register created specifically for decentralised identity. It provides tools, libraries and reusable components for working on decentralised identities.
It aims to provide a programming environment in which developers of C++ and mobile applications can contribute to the development of Hyperledger. It offers a unique consensus and ordering algorithm.
Java implementation of the Interledger protocol, enabling payments in any network – in fiat or crypto currencies.
It offers a flexible and modular architecture that separates the main system from other applications. This allows intelligent contracts to define business rules for applications without the need to know the entire system.
In conclusion, Hyperledger is a great global initiative.
Hyperledger is the result of the collective efforts of many global corporations and world-class programmers. It focuses on blockchain technologies that meet the diverse needs of many different industries. As a result, it contributes to the improvement of business processes. It is a shared, transparent and decentralized technology, making it ideal for use in countless areas such as finance, insurance, manufacturing and the Internet of Things (IoT).
Hyperledger’s main objectives
Creating corporate, open source solutions based on blockchain frameworks to support business processes.
Providing neutral, open and community-driven infrastructure, supported by appropriate technical and business management of the project.
Associating the technical community to develop blockchain technology and Hyperledger-based concepts.
Educating the community about the opportunities blockchain creates for enterprises.
Remember that Hyperledger does not focus on cryptocurrency or tokenization of assets. The project aims to create industrial solutions using blockchain for large corporations and is now a leader in this industry.