- Hyperledger Fabric and Sawtooth Blockchain are open-source projects that build blockchain frameworks.
- These two can be used to build efficient diamond tracing systems, B2B contracts, and digital identity systems.
Hyperledger Fabric and Sawtooth Blockchain are open-source projects that are working towards the development of blockchain. Both of them are industry-specific projects with their own unique features and characteristics.
Both projects build frameworks to increase the efficiency of blockchain systems. They even have a real-life use case. Before exploring the capabilities of Hyperledger projects, let’s understand these projects.
What are Hyperledger Fabric And Sawtooth Blockchains?
‘Hyperledger Fabric’ and ‘Sawtooth Blockchains’ are two different terms associated with each other. Before understanding these, let’s dive a little deeper into the ‘Hyperledger.’
Hyperledger is defined as a collection of open-source blockchain projects. The collective aim of these projects is to explore the real-life use cases of blockchain. They develop systems and frameworks to make blockchain efficient and faster.
‘Hyperledger Fabric’ is one of the blockchain frameworks that facilitates the development of blockchain-based solutions, products, and applications. On the other hand, ‘Sawtooth Blockchain’ is an open-source platform that can run customized smart contracts. Both are open-source platforms launched to develop and build technologies.
Application Of Hyperledger And Sawtooth Blockchains
Hyperledger and Sawtooth Blockchains is one of the biggest projects that involves the top tech companies. Projects are collectively working to build the framework and streamline blockchain functioning.
But what are the real-life applications of Hyperledger? Let’s understand the real-life use cases of hyperledger!
- Diamond traceability
Hyperledger technology can be used to track diamonds. To trace the diamond mining business, one can build a consortium using hyperledger technology. As these consortiums are permissioned, it’s hard to crack security.
Altogether, Hyperledger can provide a better security system. The framework developed by Hyperledger can easily track, document, and maintain transparency in diamond traceability.
- Digital Identity
Hyperledger can be used to build a digital identity system. In simple terms, digital identities are referred to as the human and digital relationships of a particular person. This includes linking all the multiple accounts, entitlements, and credentials associated with it.
Hyperledger Indy is a project that is currently working to develop a digital identity system. It provides tools, libraries, and essential reusable components for creating digital identities. In short, Indy provides a framework to develop a digital identity.
- Financial Services
Hyperledger and Sawtooth can be employed to build a secure transaction system. Framework by Hyperledger can build an efficient system to trade finance, manage digital management, and provide other financial services.
For instance, Interledger is an open-source protocol developed by Hyperledger to ensure safe and secure payments. The inter-ledger aims to create a decentralized and secure payment system.
- B2B contracts
Hyperledger can be used to develop B2B contracts. These contracts are blockchain-based; they are more secure and immutable and they are only going to be accessed by specific people.
In essence, hyper-ledger fabrics can eliminate the use of traditional contracts. B2B blockchain-based contracts can boost security, reliability, and efficiency. Additionally, the network within the network also ensures the double security of B2B contracts.
Conclusion
Hyperledger Fabric and Sawtooth Blockchains are both operated by the same organization that develops and explores blockchain opportunities. Hyperledger fabric facilitates the development of blockchain-based products and services and Sawtooth blockchain is involved in smart contracts.
Both of these are continually working to come up with efficient solutions to build a blockchain ecosystem.
