Hyperledger is an open source collaborative effort to help advance cross-industry blockchain technologies. Hosted by the Linux Foundation, Hyperledger provides a platform for developing decentralised applications (dApps), enterprise-grade distributed ledger frameworks, and smart contracts. It encompasses various blockchain frameworks, libraries, and tools tailored to different use cases, aiming to foster innovation, interoperability, and standardisation in blockchain development.
Hyperledger projects typically focus on permissioned or private blockchain networks, where participants are known and authenticated, making it particularly suitable for enterprise applications requiring scalability, privacy, and regulatory compliance.
Why do we need Hyperledger?
Hyperledger is needed to provide a reliable, scalable, and flexible blockchain framework tailored for enterprise use, supporting a variety of applications across industries while fostering collaboration, innovation, and compliance. There are other reasons too.
Secure transactions: Hyperledger provides a secure platform for conducting transactions without theneed for intermediaries, ensuring trust and reliability in digital transactions.
Transparent record-keeping: Hyperledger's distributed ledger technology offers transparency and immutability, ensuring that all parties have access to the same, tamper-proof records, reducing disputes and fraud.
Cost efficiency: By eliminating intermediaries and streamlining processes, Hyperledger helps reduce transaction costs, making it more cost-effective for businesses to conduct transactions and manage their operations.
This story is from the July 2024 edition of Open Source For You.
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This story is from the July 2024 edition of Open Source For You.
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