How the hyperledger fabric principle is essential for the technology of blockchain?
Requirements:
Select AT LEAST 3 other students’ threads and post substantive comments on those threads. Your comments should answer AT LEAST one of the questions posed in the thread and extend the conversation started with that thread. Make sure that you include the question in your comment so I can see what question you’re answering.
Need three replies, but I found only two posts so far will get back on third one while you work on these.
POST 1:
Hyperledger principles
The hyperledger fabric is considered to be one of the frameworks of the modular blockchain technology which acts as a basic foundation of the construction of the blockchain-based products or application or solutions which is utilized for the plug-and-play components that emphasize the utilization of the private business. The principles of the hyperledger fabric enable the implementation of the blockchain technology which is developed for the deployment of the modular and extensible structure (Song et al., 2020). The principles have a modular design that is quite different in terms of the implementation which can be implemented and plugged in overtime. The principles of hyperledger fabric cover the sections that have the reference of the architecture which defines the details on several components and the functions. The principles of hyberledger fabric contain modular and extensive approach, emphasis on the secure solutions, emphasis on the rich and easy applications, interoperability, and token agnostic approach. All these principles enable the organization to implement blockchain technology.
Importance of hyperledger principles in blockchain technology
Blockchain is said to be the most widely used technology that is deployed by every organization around the world. This technology enables the organization with ease in the financial transaction that protects every detail of the transaction that is in transit. Hyperledger fabric is said to be one of the projects of blockchain that utilizes smarts contracts, ledger, and is termed to be the private blockchain (David, 2019). One of the important principles of the hyperledger fabric is the emphasis on the security solution that enables the organization to implement the blockchain technology in the organization management that enables the organization to improve its operations that are to achieve the objectives and goals. This principle helps the organization to accelerate the industry more widely and the implementation of the blockchain technology into the business enable the organization to develop a high performance that helps in increasing the efficiency, performance, and effectiveness of the technology. The secure solution of the hyperledger is important in blockchain because it helps the organization to secure the data and information of the organization.
The secure solution not only enables the organization to secure its network transaction through the blockchain technology but also it restricts any kind of unauthorized access into the company network which might exploit the transactions. The importance of a secure solution in blockchain increase the possibilities of the technology which creates more security that protects the organization’s data and information which consists of confidential data of the clients. Through this principle, the organization will be able to protect and secure the sensitive transaction in the blockchain technology in which the transaction will be visible only to the intended one and not everyone (Thakkar et al., 2018). Blockchain technology anyway increases the standard of operation and management of the organization and the principle of the hyperledger fabric it will emphasize on blockchain applications.
Questions
How the hyperledger fabric principle is essential for the technology of blockchain?
What are the benefit and drawbacks of the hyperledger fabric principles in the implementation of blockchain technology?
What is the major impact of hyperledger fabric principles in blockchain technology and what are the consequences
POST 2:
Hyperledger Fabric-Hyperledger Fabric is a cloud service that lets companies, startups, and individuals access hyper-connected documents from within an email. It does work for us. We can start our hyper-connected document storage, share it with others, and connect them to other hyper-connected document storage projects (Manevich, Barger, & Tock, 2019).
I have chosen one of the principles of hyper ledger design that is,
Interoperability-Interoperability in Hyperledger Fabric is a concept of the interconnection of technologies that allow data to flow in the same format and with different semantics and with different access levels. This concept can be viewed as an inter-module interconnection (Gaur et al., 2018). Hyperledger Fabric will be compatible with the famous C and C++ frameworks, and this support will allow all types of applications and architectures to be used and integrated. This means that Hyperledger Fabric applications in a C or C++ framework can be used in the Inter-module system, a standard for distributed web applications, and a standard for web applications developed by web providers. In many cases, interoperability offers a significant benefit in terms of speed, efficiency, and lower transaction fees compared to using multiple services to deliver the same content. The client sends the transaction to the smart contract which then acts as an escrow service the amount gets added on the blockchain for all to see with the escrow amount being released from the smart contract every time the wallet does not have the funds left on the contract for some amount of time (Gaur et al., 2018).
Blockchain’s main interface was designed as separate blocks of files for transaction data to be transferred to and from each other. They are built into the blockchain using different methods to ensure that data and transaction data will be fully transferred to and from each other in the long run. That way, a successful transaction and data sharing between the people involved are not impacted. Also, the nodes in the network can act on transaction data to determine transactions that require attention or are on a waitlist. That way, the overall network becomes more efficient for transactions. So, if someone decides to transact and wants to share their data and transactions with the network, the network would look for that kind of transaction if needed, and it has needed only for a small portion of the overall network (Gaur et al., 2018).
Questions:
How did you make sure Hyperledger used a blockchain instead of an open source project?
What tools were used to build Hyper ledger?
How could Hyperledger have been developed under the current market and regulatory environment in a manner that was both scalable and easy to maintain and support?
Collepals.com Plagiarism Free Papers
Are you looking for custom essay writing service or even dissertation writing services? Just request for our write my paper service, and we'll match you with the best essay writer in your subject! With an exceptional team of professional academic experts in a wide range of subjects, we can guarantee you an unrivaled quality of custom-written papers.
Get ZERO PLAGIARISM, HUMAN WRITTEN ESSAYS
Why Hire Collepals.com writers to do your paper?
Quality- We are experienced and have access to ample research materials.
We write plagiarism Free Content
Confidential- We never share or sell your personal information to third parties.
Support-Chat with us today! We are always waiting to answer all your questions.
