Role of Hyperledger Fabric in Blockchain

Blockchain technology opens up a world of creative possibilities. It has the ability to completely overhaul industries by altering the way they are run.

So, where do programmers begin writing code for blockchain networks? We recommend that you start by learning everything there is to know about the Hyperledger Fabric project.

What Is Hyperledger Fabric?

Hyperledger Fabric is a plug-and-play blockchain architecture that serves as a platform for private companies to build blockchain-based products, applications, and frameworks.

How Hyperledger Fabric Works?

Traditional blockchain networks are unable to allow anonymous transactions and sensitive contracts, both of which are vital to businesses. In response to this, Hyperledger Fabric was developed as a lightweight, scalable, and reliable foundation for providing industrial blockchain applications.

Hyperledger Fabric is an open-access framework for private and permissioned business networks in which participants' names and functions are visible to other participants. It's meant to be used as a starting point for developing modular solutions.

It allows components like the ledger database, consensus method, and membership facilities to be plug-and-play. It makes use of container technology to provide enterprise-ready network reliability, scalability, and confidentiality.

Modular architecture

The transaction management workflow is divided into three stages by Hyperledger Fabric's scalable architecture: smart contracts, also known as chain code, which include the system's distributed logic processing and consensus, transaction ordering, transaction authentication, and dedication. This separation has a number of benefits:

• The number of confidence levels and authentication is minimized, which leaves the network and processing clean.

• Network scalability has been improved.

• Overall better results

Additionally, Hyperledger Fabric's support for plug-and-play of various modules allows for easy reuse of existing features and module integration.

The network's members have three distinct roles:

• Endorser

• Committer

• Consenter

In a nutshell, the transaction request is submitted to the endorser peer after the endorsement policy specifies the number of endorsers. After the endorsers have given their approval, a batch or block of transactions is sent to the committer (s). The endorsing procedure was followed, and no purchases were disputed, according to the committers. When all checks have been done, the transactions are committed to the ledger.

Only verifying instructions—such as signatures and read/write sets—are sent over the network, which improves its scalability and performance. The transaction is only accessible to endorsers and committers, which increases security by restricting access to sensitive data points to a limited group of individuals.

Example of Hyperledger Fabric

Assume a manufacturer wants to ship pens at a discounted price to a particular store or market of retailers (for example, all Indian retailers), but does not want the price to be revealed to other markets (i.e., Chinese retailers).

Since other parties involved in the transaction, such as customs, a distribution company, and a lending bank, may be interested in the product's movement, the private price may be revealed to all parties if blockchain technology is used to facilitate the transaction.

Hyperledger Fabric solves this problem by keeping sensitive network transactions private; only those who need to know have access to the data. Data partitioning on the blockchain means that individual data points are only visible to those who need to see them.