What Is Hyperledger? The Most Comprehensive Video Ever!
Hyperledger Fabric is one of the most widely used private blockchains, but what is it used for, and how does it work? Niloo walks us through the uses of Hyperledger Fabric, what Chaincode is, and why Private Channels are used!
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What is Hyperledger?
Let’s start with what Hyperledger is not: Not a company. Not a cryptocurrency. Not a blockchain. Hyperledger is rather something like a hub for open industrial blockchain development. On its website Hyperledger explains:
“Hyperledger is an open source collaborative effort created to advance cross-industry blockchain technologies. It is a global collaboration, hosted by The Linux Foundation, including leaders in finance, banking, Internet of Things, supply chains, manufacturing, and Technology.”
Hyperledger does not support Bitcoin or any other cryptocurrency. But the platform is thrilled by blockchain technology. Not since the Web itself, the website tells, “has a technology promised broader and more fundamental revolution than blockchain technology.” Blockchains has the potential to “build a new generation of transactional applications that establishes trust, accountability, and transparency at their core while streamlining business processes and legal constraints.”
So we have a lot of promises – and we have Hyperledger. With it, the Linux Foundation aims to create an environment in which communities of software developer and companies meet and coordinate to build blockchain frameworks. The Linux Foundation founded the platform in December 2015. In February 2016 it announced the first founding members, in March 2016 ten more members joined.
Today Hyperledger has an impressive list of more than 100 members. The list covers a wide scope of well know industry leaders. It includes mobility tech giants like Airbus and Daimler, IT-companies like IBM, Fujitsu, SAP, Huawei, Nokia, Intel and Samsung, financial institutions like Deutsche Börse, American Express, J.P. Morgan, BBVA, BNP Paribas and Well Fargo, as well as Blockchain startups like Blockstream, Netki, Lykke, Factom, bloq and Consensys. A lot of the world’s largest companies in Tech and Finance meet at Hyperledger with some of the hottest blockchain startups.
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Something like the executive government of Hyperledger is the committee of leaders. It consists of more than 10 executives, most with decades of experience in Open Source and tight connections to several industries. You’ll find leaders of the Apache Foundation and the W3C Consortium as well as engineers from IBM and more. Some of Hyperledgers’s members, like Richard Brown and Tamas Blumer, already worked with Blockchain for years. For its members, Hyperledger does not only provide technical knowledge and software frameworks but also various contacts to industries and developers.
Relatively early in the history of Hyperledger, the project had to make an important decision. Executive Director Brian Behlendorf was asked if there will be an “Hyperledger Coin”, a monetary unit running on the Hyperledger blockchains. Behlendorf answered that the Hyperledger Project itself will never build its own cryptocurrency.