Blockchain has a huge potential to change the industry and we are already seeing it right now. With a revolutionary technology, comes with a huge responsibility to choose the framework on which you will build your blockchain network properly. I’ve already written about this earlier on how to choose and value a blockchain framework which you can read here.
Today, let me walk you through why Hyperledger Fabric could be the best choice to build your enterprise blockchain network.
Before I get into it, if you are not aware of what Hyperledger® is, here’s a quick introduction:
Hyperledger is a blockchain framework maintained by Linux Foundation. It is intended to enable enterprises develop blockchain based application really fast. It is currently one of the most stable permissioned, general purpose and enterprise-ready blockchain development platform.
Here are the five major advantages of Hyperledger Fabric which you can take advantage of today:
1. Modular Architecture
Hyperledger Fabric encourages developers to create pluggable components into its architecture. For example, you can plug in condenses as and when you need and in one of the fastest ways possible.
This kind of modularity is enabled by its robust architecture that looks into the future of this brand new blockchain technology. This is super valuable when you would want to get things in into the system like a custom identity management system for the users to use the blockchain platform built on top of Hyperledger Fabric.
2. On-demand data retrieval
Hyperledger Fabric’s Channels might be one of the most underrated feature till date. Channels allows for something called data partitioning. This allows for us to protect the data that we need to protect.
This especially comes in handy where the finance companies who are willing to adopt blockchain, express deep concerns on their competitors taking a peek at their data. We are talking about companies and banks where even a really good cryptography is not enough, considering the fact that hackers can break cryptography like in a decade when done consistently.
With Channels on Hyperledger Fabric, you can expose the data that is only necessary, and store the data that is sensitive in data partitions.
3. Built for permissioned blockchains
Not every blockchain would have to be anonymous and exposed. Hyperledger Fabric allows for all the entities to have known identities. Permissioned blockchains are the ones that the finance companies need, considering the data protection and healthcare in particular.
For example, take the case of a mortgage company using blockchain. Mortgage is not something that is publicly exposed. This calls for the parties to identify themselves in the network to verify authenticity.
4. Level of trust
The way Hyperledger Fabric handles the way transaction happens completely different than others. The focus here is to reduce the layers of trust and the number of verifications a transaction would need to have. This allows for the transactions to happen faster and better without any after effects.
The architecture diagram that we drew earlier would give you an idea about this architecture better.
5. Community Support
The community that is building Hyperledger Fabric is super vibrant today. Our engineers have been contributing to Hyperledger Fabric, and we aim to be the biggest contributor to this blockchain platform in less than 24 months.
With mainstream companies like IBM, Toyota and many other corporates adopting Hyperledger Fabric in production, the community and its support just keep growing.
The next steps
Now that you know the advantages of Hyperledger Fabric, here are some of the next steps you can take:
- Learn more about the blockchain technology to understand more about blockchain for your industry and how you can take advantage of it.
- Organize a Blockchain Business Workshop to get a clear insight into what blockchain can do for your business.
- Join the Hyperledger Fabric Telegram group to meet people interested in Hyperledger Fabric.