The Linux Foundation® Hyperledger® is one of the fastest growing open source blockchain communities. Anyone can help lead it. Learn more and join the community.

 

In this video:

Hyperledger® is one of the fastest growing open source blockchain communities. Anyone can help lead it. Learn more and join the community: www.hyperledger.org. Or, head here, http://ibm.co/2dbtffw.

The work started last year with a simple framework to test the interaction between applications and secure blockchain networks, and it’s allowed us to test use cases in supply chain, capital markets, manufacturing, and healthcare.

First, we learned that permissioned blockchain networks that require every peer to execute every transaction, maintain a ledger and run consensus can’t scale very well and can’t support true private transactions and confidential contracts. So the community designed Hyperledger Fabric™ V1 to deliver a truly modular, scalable, and secure foundation for industrial blockchain solutions. That’s what we’re building right now and we could use your help.

The most notable change is that peers are now “decoupled” into two separate runtimes with three distinct roles: Endorser, Committer, and Consenter. Example: Pretend you run an organic market in California and I grow radishes on my farm in Chile. You and I are on a blockchain network that supports transactions between various markets, growers, shippers, banks, and others.

I agree to sell you my radishes at a special low price. But I need the other markets that buy from me to continue buying at the standard price — they shouldn’t be able to execute our confidential agreement and find out the details of our deal. In fact, if they aren’t part of the deal, the transaction shouldn’t even appear on the ledger.

Hyperledger Fabric™ V1 handles all this. My app looks up your identity from a membership service and then sends the transaction only to our peers. Both of our peers will generate a result. In this two-party agreement, the transaction requires both of us to render the same result, but in transactions with more parties, other rules can apply. Then the peers send the validated transaction back to the application, which sends it to a consensus cloud for ordering. And then the ordered transactions are sent back to the peers and committed to the ledger.

But to get my radishes to your market, there are many other parties involved and so now we have to run different transactions with different parties — some need to know that my radishes have been verified and checked into a shipping container and that the temperature of the container never exceeds a maximum set by our transit agreement

Others need to handle bills of lading, customs inspections, financing, and insurance, but most of these parties don’t need to know about our special price agreement. Hyperledger Fabric™ V1 delivers one network with everyone working together while ensuring confidentiality, scalability, and security.

Now think about our transaction running on a network handling all the markets and all the farms, shippers, and facilitators in the supply chain. And imagine where this goes … this is the same pattern needed by many industries … anywhere we need to manage confidential obligations to each other without passing everything through a central authority.

So, how do we get there? Go to hyperledger.org to find out.

For Hyperledger Fabric™ V1 documentation, visit: http://hyperledger-fabric.readthedocs.io/en/latest/abstract_v1/

Videos by topic: Blockchain


Videos by topic: Blockchain

Learn how blockchain will fundamentally change the way we do business then let us help you give it a try.

View more videos on blockchain

Get email notifications for new videos on blockchain

4 comments on"Building a blockchain for business with Hyperledger®"

  1. Cool video!

  2. Hello John,
    Thanks for your sharing . I am currently working on a hyperledger project using v1.1.0 and have a question related to your post. I will be appreciated if you can help me.
    You mentioned in the post that Hyperledger makes it possible to hide confidental aggreement. Is it accomplished by creating channels between related parties or by some other way? If it is the channel that accomplishes it, in our project there are 4000+ parties and there can be one-to-one confidental aggreements (actually confidental data not the smart contract itself). It is hard to create channel for each one-to-one relation since it will be a huge number of channels.
    Is there an efficient way of hiding data that is a result of one-to-one relation? I am looking forward to hear your opinion.

    Best,

    • Hello Mert,
      There are a few methods you can employee. First is restricting the smart contract to only those that you want to interact with. This however does mean that people you are not interacting with will still have a copy of the ledger, but the data may not make sense. 2nd is as you said and the use of channels which is the recommended method currently. Finally you could use the experimental feature in V1.1 of Hyperledger Fabric called Side DB. This enables you to remove any confidential information prior to sending the transaction to the ordering service. Thanks for the question, hope this helps.

      • Thanks for your detailed information. It really helps. I will check Side DB.

Join The Discussion

Your email address will not be published. Required fields are marked *