What is Hyperledger (Hyperledger Foundation)?
Let's find out Hyperledger (Hyperledger Foundation) meaning, definition in crypto, what is Hyperledger (Hyperledger Foundation), and all other detailed facts.
Hyperledger Foundation, formerly known as Hyperledger Project, is a collaborative project between multiple open-source blockchains and blockchain-related tools. It was created by the Linux Foundation in December 2015, with the founding members being announced in early 2016.
At the start, Hyperledger introduced two projects – Hyperledger Fabric, a codebase that included work by Digital Asset, libconsensus from Blockstream and OpenBlockchain from IBM, and Hyperledger Sawtooth, which was developed by the Intel incubation group. The Hyperledger Foundation has since become the faster-developing Linux project.
The main goal of Hyperledger is to promote blockchain technology among mass enterprises. The project offers a variety of stable frameworks, tools, and libraries that can be utilized for enterprise-scale blockchain development and deployment projects.
Hyperledger Foundation works on the development of permissioned enterprise blockchains. Unlike permissionless blockchain networks like Bitcoin and Ethereum, permissioned blockchains are used in private networks and participants comply with the consensus rules. Essentially, permissioned blockchains are more centralized.
The Linux Foundation set out five goals for the Hyperledger Project at its inception. The key mission was to develop an intuitive blockchain ecosystem for large-scale organizations which would allow them to interact both internally and with each other.
The Hyperledger Foundation also works on promoting educational materials and events that present many market opportunities for blockchain technology implementation. The foundation aims to develop a business infrastructure that matches the innate values of blockchain technology – neutrality, openness, and being driven by the community.
A strong community is one of the core values of the Hyperledger Foundation. Thus, one of the goals is to build and promote the community spirit in the development of enterprise blockchain technology.
The Hyperledger Foundation has had success in bringing real-life use cases to the world. It has shown how blockchain technology can be applicable thanks to the project’s numerous partnerships and collaborative work. From financial services to healthcare – Hyperledger aims to introduce blockchain technology into a wide scope of industries.
The foundation has sealed partnerships with globally renowned brands, like IBM, Intel, and Fujitsu. Hyperledger represents one of the best-recognized blockchain ecosystems in the world. It is an ever-growing project, with new developments and launches planned ahead along with the global growth of blockchain technology.