Hyperledger Fabric is an open source blockchain platform. A project of the Linux Foundation to promote blockchain technology for use in business applications.
All blockchain platforms could generally be divided into three parts:
1. permissionless blockchain or public blockchain.
2.permissioned blockchain or private blockchain
3.hybrid model
Unlike public blockchain networks such as Bitcoin and Ethereum, which are accessible to anyone, Hyperledger Fabric Blockchain platform is permissioned, meaning that access to the network is limited to authorised participants. This is well suited for use in a business environment, where participants’ identities are known and controlled.
One of the key features of Hyperledger Fabric is its modular architecture, which allows for flexible blockchain network design and deployment. Hyperledger Fabric uses a modular design that allows pluggable implementations of various components such as consensus and membership services. This allows businesses to use the specific components that best suit their needs.
Hyperledger Fabric also supports smart contracts, which are computer-based contracts that is written based on a programming language and executed automatically and immutably. They are also known as chaincode, which contains the business logic. Chaincode is executed in a distributed network of peers connected by a decentralised system. Each peer (node) in the blockchain holds a complete copy of the blockchain ledger and validates new transactions and blocks before adding them to the blockchain. When a smart contract is executed, the execution is checked and validated on all peers to ensure it is correct. These smart contracts can be used to automate processes and ensure that certain conditions are met before a transaction is executed. In other words, when a smart contract is executed, the execution is checked and validated on endorser nodes (nodes that have chain code installed can endorse transactions).
Another advantage of smart contracts is that transactions are only carried out between trusting parties. This is particularly important for business applications where trust and security are critical.
The Hyperledger Fabric platform is highly secure and offers built-in support for confidentiality and privacy. This private data collection feature, allows private data to be stored and shared between selected network participants while remaining hidden from others.
The modular architecture and permissioned network model make the Hyperledger Fabric Blockchain platform extremely flexible and secure as the basis for DISS-CO’s whistleblowing system. Furthermore, due to the support of smart contracts and private data collections, the DISS-CO Smart Intergrity Platform can be used in many ways, e.g. for the automation of processes and the guarantee of data protection.
DISS-CO® is an innovative legal tech company with a strong focus on eGRC and RegTech. Built by investigators experienced in detecting fraud and other violations in various sectors.
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