Hyperledger is an open-source collaboration for a community of software developers who wish to make blockchain-related technology available to the public. This article focuses on discussing the hyperledger fabric and quantum computing. The following topics will be discussed here:
- What is Hyperledger Fabric?
- What is Quantum Computing?
- Hyperledger Fabric and Quantum Computing
Let’s start discussing each of these in detail.
What is Hyperledger?
- Hyperledger’s strategic goals include establishing a collaborative platform that makes it possible for interested parties to work towards common solutions; fostering widespread cross-industry standardization of blockchain technologies and curricula, developing new ways in which sophisticated code can be formally verified, and making it easier for businesses in different sectors to deploy Hyperledger Fabric frameworks on enterprise clouds.
- Hyperledger Fabric is a permissioned blockchain network that provides services for businesses. It uses a model called “chaincode” where different smart contracts can be uploaded to the blockchain.
- This is done with an automated installation process, which means that applications and smart contracts can be uploaded to the blockchain in seconds. The most important features of Fabric include:
- Scalability: Multiple network configurations are possible and allow for scalability as per demands.
- Flexibility: Permissioned-based or permission-less networks can be set up and if needed, updated anytime.
What is Quantum Computing?
Quantum Computing is a computing technology that uses quantum-mechanical phenomena, such as superposition and entanglement to perform operations on data.
- In an ordinary digital computer, information is encoded into binary digits (bits), 0s and 1s. These bits represent either data stored or instructions being carried out. In a quantum computer, the Quantum bits (qubits) take advantage of the superposition principle of quantum mechanics to encode information so that each qubit stores both a piece of data and instruction for its own computing operation – in other words, all qubits can become any other number simultaneously so there is massive parallelism.
- Quantum computing is a new kind of computer that takes advantage of quantum mechanics to solve problems. It can find solutions to problems with high complexity very fast by processing all possible combinations simultaneously.
- The idea behind Quantum computing is based on the concept called superposition, which means that a quantum object can be in multiple states simultaneously. Quantum computing in the blockchain is a concept that has been researched by many.
- It is one of the possible solutions that might be used to improve blockchain scalability. However, if you are going to implement Quantum computing in your own blockchain or have a significant interest in this field, it would be wise to learn more about Hyperledger Fabric and its potential use cases of it.
Hyperledger Fabric and Quantum Computing in Blockchain
Hyperledger Fabric is a permissioned blockchain network. It provides services to businesses in the form of smart contracts and other applications that can be easily uploaded to the network. The network is scalable and flexible, which means it can be used in many types of business applications.
- As mentioned above, one of the challenges that blockchain faces is the lack of scalability.
- This issue can be addressed by increasing the number of transactions per second (TPS). For example, Bitcoin has a 7 TPS currently and Ethereum has 15 TPS currently which clearly indicates the need for improvement.
- Currently, there are projects underway to address this issue for public blockchains like Ethereum and Bitcoin as well as private ones like Hyperledger Fabric. Hyperledger Fabric and Quantum computing are one of the possible solutions that might be used to address this issue.
Because of the possibilities of Quantum computing, some researchers have started studying how it could be used to improve blockchain scalability. The problem with Quantum computing is that it is still very new, and there are not many companies using or implementing it in their business. For now, Hyperledger Fabric and Quantum Computing are just concepts. It is important to note that they will not make a difference in the day-to-day lives of regular users on Non-Public Blockchains like Hyperledger Fabric, which is permissioned by respected businesses and individuals.