Hyperledger Fabric was specifically designed to serve as a basis for building modular applications and solutions. Plug-and-play components, such as consensus and membership services, are very much included in Hyperledger Fabric. The best part about the hyper ledger fabric is its modular and adaptable architecture. The fabric caters to a wide range of industry applications. It takes a novel method to a consensus that makes space for scalability while maintaining anonymity.
This particular phenomenon was built from the ground up for corporate use. Designed to work as a basis for building modular apps and solutions, its modular and adaptable architecture caters to a wide range of industry applications. It takes a novel technique to reach a consensus that allows some room for scalability while maintaining anonymity.

HYPERLEDGER FABRIC VS ETHEREUM

Ethereum

Ethereum’s native currency (ETH) is known as the ETHEREUM COIN. Almost every participating node can mine by paying gas.

Because Ethereum is a public domain, it features a POW mechanism that slows down the process of transactions, which works up to almost about 20 transactions every second.

Ethereum makes use of Solidity to write smart contracts, and also high-level languages like JavaScript, Python, and Golang are used to construct the application.

Because Ethereum is a Decentralised network, the blockchain uses a POW or consensus method. It helps the decentralised network’s member nodes to meet in the middle on things like account balances and transaction orders, preventing users from generating wrong transactions and then double-spending their coins.

Ethereum was the first to introduce the phenomenon of smart contracts. A Smart Contract is a computer programme defined in code that is triggered automatically when the particular criteria are satisfied. It keeps the transfer of digital assets between the contracting parties in check. It is unchangeable; once a condition is established, it cannot be changed by a third party.

Ethereum is a platform used for building business-to-consumer (B2C) and decentralised apps. It was majorly made to run smart contracts on the Ethereum Virtual Machine (EVM) and generate decentralised apps for broad use.

Ethereum is a public network with no asked permissions. Anyone with access to the internet can get the software and begin mining Ethereum.

Only Ethereum developers can have control over the Ethereum network. Ethereum’s principal developer and founder are Vitalik Buterin.

Ethereum is an open network. All of the transactions are completely transparent, and anyone with internet access can see them.

Hyperledger Fabric

Hyperledger is a platform for building B2B and cross-industry applications. It encourages collaboration between organisations or industries and developers working with Distributed Ledger Technology (DLT). This can be used to construct blockchain apps with restricted access.

Hyperledger is a blockchain network with restricted permissions. This is where highly secure and private transactions happen. All existing transactions on the network can only be viewed by companies or individuals that have a Certificate of Authorization.

The Linux Foundation oversees the Hyperledger fabric. IBM is a major contributor to this framework as well. It is the result of these two companies’ extensive partnership, which proved to be a massive success.

Hyperledger strictly maintains tight control over who can join the network. The Hyperledger platform and its capabilities are only accessible to approved members, and they are chosen only by the authorised members. It keeps valuable and secret information hidden from outsiders and prevents them from using it for wrongful purposes.

Hyperledger fabric is just like smart contracts. It allows member organisations to run code (known as chain code) on peers to produce transactions based on a particular set of conditions.

In Hyperledger, Go is extensively used to build chain code, with some Java and JavaScript thrown in for a safety measure.

Hyperledger does not require a POW or consensus process to validate a transaction because it is a private network. No third party can intervene in a transaction if two participants agree on a certain transaction. It improves the network’s transaction rates and its overall performance.

HYPERLEDGER FABRIC COIN

Hyperledger isn’t a company, a cryptocurrency network, or a blockchain technology in the traditional sense. It does not support a cryptocurrency like bitcoin but does provide the architecture and standards which stand essential for the development of other blockchain-based systems and applications for industrial use.

HOW DOES HYPERLEDGER FABRIC FUNCTION

Let’s suppose a soft drink producer wants to distribute drinks to a specific retailer or market of retailers (e.g., all UK shops) at a specific rate, but doesn’t want to reveal that pricing in other markets (i.e., Indian retailers).
Because all other parties, such as customs, a shipping firm, and a financing bank, do get involved in the product’s movement, the hidden price will be revealed to all parties only if an introductory form of blockchain technology is used to validate this transaction.
Hyperledger Fabric solves this problem by maintaining the privacy of private transactions on the network. Information is available only to those who need to be informed. Data division plays a significant part in the blockchain, as it allows specific data points to be accessible only to those who need to know.