Will Hyperledger Fabric Be the New Standard for Blockchain?
Hyperledger Fabric is one of the most exciting open source blockchain platforms out there, but what exactly is it? How does it work? What makes it unique? This article answers all these questions and more, delving into this exciting new platform in detail and explaining why it may become the future of blockchain.
Hyperledger is a collaborative effort to create a cross-industry open standard for distributed ledgers, with a focus on business use cases. It is an open source project hosted by The Linux Foundation and includes leaders in finance, banking, Internet of Things, supply chains, manufacturing and technology.
Hyperledger Fabric is one of two flagship offerings within the Hyperledger Project that provide an enterprise-grade blockchain platform. The other one is Hyperledger Sawtooth. They are both part of the Hyperledger family and offer different benefits based on their design objectives. In 2022, we predict that Hyperledger Fabric will be the new standard for blockchain.
Hyperledger Fabric offers a modular architecture which allows its users to plug in consensus engines like Tendermint or Intel’s BFT protocol and also features smart contract functionalities such as cryptlets which allow data sharing across multiple nodes or organizations. It can scale from 10-1000’s of nodes without sacrificing security or performance because it offers permissioned blockchains with access control as well as private deployment options.
HyperLedger’s website says: The goal is not simply to build better blockchains; it is to make them accessible tools with which enterprises can transform themselves into digital enterprises where they might thrive, grow and lead in ways never seen before.