The Make-over: From Dark Alleys to Enterprise IT
Hyperledger Fabric is an open source collaborative effort, where communities of software developers blockchain technologies are being leveled up for mainstream commercial enterprise adoptions. Hyperledger participants are exploring, building and improving a new generation of transactional applications that establish trust and transparency while streamlining business processes. The blockchain is being designed to be modular and pluggable to fit a variety of use cases.
Hyperledger Fabric is managed by the Linux Foundation. It is an open source collaborative effort to bring about the much-needed extreme makeover for Blockchain to develop enterprise solutions. Industry-leading organizations have joined the Hyperledger Project to develop an enterprise-grade, cross-industry open platform for distributed ledgers.
Hyperledger consists of
1. Membership services (manages identities, certificates of participating nodes)
2. BlockChain (distributed ledger)
3. Consensus mechanism (Set of rules that maintain a coherent set of facts between participating nodes)
4. Chaincode or Smart contracts which is a set of application specific business rules or a Rules engine