Hyperledger Definition
Hyperledger is an open-source collaborative project and infrastructure hosted by the Linux Foundation to advance cross-industry blockchain technologies. It offers an umbrella of diverse blockchain technologies and tools without backing a particular cryptocurrency, focusing instead on business and industry needs.
Hyperledger Key Points
- Hyperledger is not a cryptocurrency or blockchain, it’s an infrastructure designed to support the growth of the blockchain technology in various industries.
- The project operates within the remit of the Linux Foundation and supported by big corporations like IBM, Intel, and SAP Ariba.
- Hyperledger provides a wide set of tools, frameworks, standards, and guidelines for developing and using blockchain applications and services.
- Hyperledger supports both permissionless (public) and permissioned (private) blockchains.
What is Hyperledger?
Hyperledger is a collaborative effort created to advance blockchain technology by identifying a standard, supporting business transactions, and embracing important features for a diverse range of industries.
Who uses Hyperledger?
Companies from various sectors such as IBM, Intel, SAP Ariba, and other major corporations from healthcare, finance, Internet of Things (IoT), supply chain, banking, and technology sectors benefit from Hyperledger’s technologies to enhance their businesses.
Where is Hyperledger used?
Hyperledger is used across many industries, each employing its underlying blockchain technology in different ways. It’s utilized in finance to streamline processes, in healthcare for storage and security of data, in supply chains to track and trace goods, and in many other sectors for its decentralization, transparency, and security benefits.
When was Hyperledger established?
Launched in December 2015 by the Linux Foundation, Hyperledger’s aim has always been to help industries build robust, industry-specific applications, platforms and hardware systems to support business transactions.
Why is Hyperledger important?
Hyperledger plays a significant role in the blockchain space, fostering an open and global collaboration to develop a cross-industry standard for distributed ledgers. As it doesn’t endorse a specific cryptocurrency, it gives more emphasis on blockchain’s technological and business applications, which holds a huge potential especially in business and commerce.
How does Hyperledger work?
At its core, Hyperledger works by providing essential components via its variety of tools and frameworks. It enables businesses to construct their own blockchains and implement smart contracts. It also provides features for identity recognition, data privacy, and a supportive community for queries and development. By doing this, Hyperledger accelerates the development of blockchain applications in different industries.
