Hyperledger Fabric enables confidentiality in blockchain for business
Blockchain Technology has come across various iterations of technological advancements, and one such notable solution is Hyperledger. The Hyperledger is an open source project initiated by IBM. It was designed to use blockchain for enterprise-grade applications and later taken to open source platform with Linux Foundation.
Hyperledger was created to overcome the shortcomings of permissioned blockchain. The problem with permissioned blockchain is that all the peers must approve all the transactions in the network, executed, maintained and also run the consensus which can unmanageable to a large extent. To overcome the mentioned roadblocks, hyperledger came into existence.
Hyperledger Fabric: The Introduction
Hyperledger Fabric is the enterprise-grade distributed ledger based on blockchain technology that uses Smart Contracts to bridge the trust between two concerning parties. It organizes the whole network in three important roles: Endorser, Consenter, Committer. These three roles enable the peers in the network to write in the ledger and maintain it within the two concerning parties and obscure it to everyone else from the network. The consenting parties should verify that the peers have exchanged some asset with an agreement between them.
Another important feature of Hyperledger is the confidentiality that changes the whole game of blockchain technology in various fields such as medical records, financial transactions, and identity management. Confidentiality is the crucial factor in this network where the information that is being stored may be sensitive in nature. Hyperledger Fabric establishes trust, transparency, and accountability in business environments. It also leverages the logic in smart contracts to automate the business process in the said network.
In any given network, the Hyperledger Fabric can secure the data in transit by enabling Transport Layer Security that is touted to be two-way.
Next is to use the Hyperledger Fabric Attribute-Based Access Control that will leverage the access control decision upon the transactions based on the user’s identity attributes.
Now encrypt the sensitive data using Hyperledger Fabric encryption library. It means that a smart contract is encrypted using a specific number can only be accessed by the participants of the network.
Hyperledger Fabric also supports the private channel data where sensitive data can be shared with specified organizations that need to have access to it.
Conclusion
Hyperledger Fabric is now considered to be the epitome of security among other blockchain technologies and supports confidentiality of data in multiple ways possible. Blockchain App Factory, one of the reputed blockchain development company that aims to develop a seamless Hyperledger with the user’s specifications.