Blockchain technology is already radically transforming industry operating models. When considering and evaluating blockchain platforms for our business use case, we went through a rigorous process and choose an enterprise blockchain framework that works best with our needs. A few reasons why BlockPark choose Hyperledger Fabric
Hyperledger Fabric is a framework for permissioned networks, where all participants have known identities. When considering a permissioned network, you should think about whether your blockchain use case needs to comply with data protection regulations. Many use cases — in the financial sector and healthcare industry, in particular — are subject to data protection laws that require knowing who the members of the network are and who is accessing specific data.
Performance, scalability, and levels of trust
Hyperledger Fabric is built on a modular architecture that separates transaction processing into three phases: distributed logic processing and agreement (“chaincode”), transaction ordering, and transaction validation and commitment. This separation confers several advantages: Fewer levels of trust and verification are required across node types, and network scalability and performance are optimized.
Data on a need-to-know basis
Businesses, due to competitiveness, protection laws, and regulation on confidentiality of personal data dictate the need for privacy of certain data elements, which can be achieved through data partitioning on the blockchain. Channels, supported in Hyperledger Fabric, allow for data to go to only the parties that need to know.
Rich queries over an immutable distributed ledger
The ledger is the sequenced record of state transitions for the blockchain application. Each transaction results in a set of asset key-value pairs that are committed to the ledger as creates, updates, or deletes. The immutable source of truth for v1.0 is appended into the file system of the peer, which also has LevelDB embedded.
Modular architecture supporting plug-in components
The modularity of Hyperledger Fabric architecture enables network designers to plug in their preferred implementations for components, which is an advantage. One of the most requested areas for modularity is “bring your own identity.” Some multi-company networks already have identity management and want to reuse instead of rebuild. Other components of the architecture that can be easily plugged in include consensus or encryption, where some countries have their own encryption standards.
Protection of digital keys and sensitive data
HSM (Hardware Security Module) support is vital for safeguarding and managing digital keys for strong authentication. Hyperledger Fabric provides modified and unmodified PKCS11 for key generation, which supports cases like identity management that need more protection. For scenarios dealing with identity management, HSM increases the protection of keys and sensitive data.