Principles of Hyperledger Design

Hyperledger is referred to as an open-source project to develop blockchain applications or records. It is built using the Go developing language. It delivers a variety of frameworks, standards, models, and tools to build a P2P network. Its applications are in the department of finance, IoT, manufacturing, Information technology, etc. It is divided into two parts: tools and frameworks.

The article focuses on discussing the following principles of hyperledger design:

1. Modular.
2. Interoperability.
3. Highly Secure.
4. Cryptocurrency-agnostic.
5. Easy To Use APIs.
6. Scalability
7. Governanace

Let’s discuss each of these hyperledger design principles in detail.

Principles of Hyperledger Design:

1. Modular: This principle defines that there should be modularity in all components of all frameworks. The following are some of the components of hyperledger projects:

• Consensus layer.
• APIs.
• Datastore.
• Smart contract layer.
• Communication layer.
• Pluggable cryptography.
• Identity services.

2. Interoperability: This principle is concerned with the backward interoperability and not the interoperability between the various hyperledger project-powered blockchain networks.

• The participants who are associated with each other through the network must have the ability to control the business model. 
• Peer-to-peer networks that make the application connectivity can be easily managed.

3. Highly secure: This principle focuses on security and not just on the crypto abstraction but the communication between network components and the structure that directs the permission nature of permissioned blockchains. 

• The security is so close that it is absolutely tough to hack the ledger and steal or manipulate the details because of utilizing a consensus algorithm. 
• Many organizations that are based on blockchain technologies are well verified and organized industries.

4. Crypto-asset agnostic approach: Hyperledger projects don’t use crypto-assets, tokens, cryptocurrency, or coins as incentive mechanisms to establish a trust system.

• It uses tokenization that represents a physical, virtual, or dematerialized asset, tokenization of assets is quite a different concept. 
• There is no preference built into the platform for any currency over any other. 

5. Easy To Use APIs: The focus of this principle is to ensure that the blockchain systems have access to business networks, new systems, and existing participants without exposing the details of blockchain-powered business networks.

6. Scalability: Hyperledger is designed to be highly scalable, with the ability to handle large numbers of transactions per second. This makes it well-suited for enterprise applications that require high throughput and low latency.

7. Governance: Hyperledger has a strong focus on governance, with a set of rules and procedures that govern how the platform is developed, maintained, and updated. This helps to ensure that the platform remains secure and reliable over time.