How does Hyperledger Fabric Blockchain Work?
Blockchain is a leading technology that has brought in a wave of change. This distributed ledger technology forms the underlying technology for Bitcoin exchange, but over a period of time, Blockchain emerged as a mainstream technology, and now it finds a multitude of applications. Blockchain developers are in great demand across the different industrial segments; from food to finance, you can find a multitude of applications of Blockchain technology.
Although there has been a steady growth in Blockchain technology, there are certain apprehensions surrounding the use of this technology. The anonymity and lack of governance and scalability are key issues that we need to address. But the fact of the matter is that we have both public Blockchain and private Blockchain. While the public is open to all, it is the private Blockchain that is of the interest of enterprises. The private Blockchain is far more secured.
The Hyperledger Fabric:
When we talk about permissioned Blockchain, then we have to mention Hyperledger Fabric. This Blockchain platform offers an enterprise-level solution. And companies are using it for transactions and information exchange. The organization that is a part of this consortium are known as members.
Now comes the functioning of the Hyperledger fabric. For this, each of the participating members of the Blockchain network set up their peers to participate in the network. All the members are configured cryptographically like they have the Certificate Authority and other information.
People of the member organization receive the transaction request from their clients. This client application makes use of Hyperledger Fabric SDK or REST web service to interact with the Hyperledger Fabric network.
What makes Hyperledger Fabric different from the Blockchain is that it offers a permissioned platform wherein the participating organisation members provide permission, which adds to the security of the platform. Thus, making it absolutely safe and secure.
Key features of Hyperledger fabric:
1. Permissioned membership- All the Hyperledger fabric participants have identities, which is unlike the public Blockchain, where the identity remains anonymous.
2. Performance and scalability- Hyperledger fabric is built on a modular architecture, and has the following parts:
• Distributed logic processing and agreement (“chain code”)
• Ordering the transaction
• And validation and commitment of transactions.
It results in verification across the different node types and enhances scalability and performance.
3. Protection of sensitive data- Another advantage of using Hyperledger Fabric is that it results in data protection. The user gets both modified and unmodified PKCS11 for key generation, which adds to the security.
These are a certain set of benefits offered by Hyperledger fabric, and this is the reason that most often, companies are eyeing to use this technology. These features of Blockchain will make it more popular, and it will have a wider reach.
Owing to this growth, there will be a rise in the demand for Hyperledger experts who can leverage this technology and help in flawless implementation. If you are also willing to make a career growth in this domain, you must enrol for the Hyperledger certification program by the Blockchain Council.