Role of Hyperledger Fabric in Blockchain
Blockchain technology offers a plethora of possibilities for creativity. It has the potential to transform industries by radically altering the way they are conducted.
So, how can developers get started writing code for blockchain networks? We suggest beginning with a thorough understanding of the Hyperledger Fabric project.
What Is Hyperledger Fabric?
Hyperledger Fabric is a plug-and-play blockchain architecture that serves as a platform for developing blockchain-based products, technologies, and frameworks for private businesses.
How Hyperledger Fabric Works?
Traditional blockchain networks are incapable of supporting anonymous transfers and sensitive contracts, which are critical for companies. Hyperledger Fabric was created as a flexible, scalable, and stable foundation for providing industrial blockchain applications in response to this.
Hyperledger Fabric is an open-access platform for private and permissioned enterprise networks in which the names and functions of the participants are exposed to the other members. It’s intended to serve as a basis for creating modular solutions.
It enables plug-and-play functionality for components such as the ledger database, consensus process, and membership facilities. It makes use of container technologies to provide network stability, scalability, and confidentiality that is enterprise-ready.
Hyperledger Fabric’s scalable architecture divides the transaction management workflow into three stages: smart contracts, also known as chain code, which provide the system’s distributed logic processing and consensus, transaction ordering, transaction authentication, and dedication. This separation has several advantages:
- The number of confidence levels and authentication is minimized, which leaves the network and processing clean.
- Network scalability has been improved.
- Overall better results
Furthermore, Hyperledger Fabric’s support for plug-and-play of different components makes for quick reuse of existing features and ready-made module integration.
The participants on the network have three distinct roles:
In a nutshell, the transaction request is sent to the endorser peer following the number of endorsers specified in the endorsement policy. A batch or block of transactions is sent to the committer after the endorser(s) have given their approval(s). Committers ensure that the endorsing protocol was implemented and that no purchases are in dispute. The transfers are committed to the ledger until all checks have been completed.
The network’s scalability and efficiency are improved when only verifying instructions — such as signatures and read/write sets — are transmitted over it. Only endorsers and committers have access to the transaction, which improves confidentiality by limiting access to critical data points to a smaller number of people.
Example of Hyperledger Fabric
Assume a manufacturer needs to ship pens at a special price to a specific store or market of retailers (e.g., all Indian retailers) but does not want to expose the price to other markets (i.e., Chinese retailers).
Since other individuals, such as customs, a distribution firm, and a lending bank, may be interested in the product’s movement, the private price may be disclosed to both parties if a simple implementation of blockchain technology is used to facilitate this transaction.
Hyperledger Fabric solves this problem by keeping confidential transactions private on the network; only those who need to know are privy to the information. On the blockchain, data partitioning requires individual data points to be available only to those who need to see them.