What is Hyperledger and what are its benefits?
Jwalant Desai
By: Jwalant Desai

What is Hyperledger and what are its benefits?

Hyperledger is one of the significant development in recent times in field of Blockchain. It is an open source, collaborative effort across the industry to develop various functionalities of Blockchain. There are various projects being developed under the umbrella of Hyperledger. Although it is being developed by The Linux Foundation, it is also supported by many industry leading corporates in Finance, Manufacturing, Internet of things, Supply Chain, banking and technology.

Blockchain is considered to be one of the biggest invention since the advent of Web. Blockchain is distributed peer-to-peer database along with “smart contracts”, consensus algorithms and other supportive technologies. Together all of these can be used to build a new-gen transactional applications that establishes trust, accountability and transparency at their core, while streamlining business processes and legal constraints. Such implementations of technology have potential to change the entire framework over which transactions are currently done.

Imagine of Hyperledger as an operating system for various application areas such as marketplaces, data-sharing networks, micro-currencies, and decentralized digital communities. It has the potential to vastly reduce the cost and complexity of getting things done in the real world.

Only an Open Source, collaborative software development approach can ensure the transparency, longevity, interoperability and support required to bring blockchain technologies forward to mainstream commercial adoption. There is a requirement for Open That is what Hyperledger is about - communities of software developers building blockchain frameworks and platforms.

There are various projects being developed within Hyperledger community depending on its application area-Finance, Healthcare, Supply Chain and other areas.
For example in Finance, there are many iterations of transaction records

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