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Horton comments addressed Levi comments addressed Fixed references to chain. chain -> channel starting new patch set, sorry Ferris comments addressed replaced dummy file [ci skip] Change-Id: I3c9ab9c60b0ff1f279b0927568f6caf965520ac4 Signed-off-by: Nick Gaski <ngaski@us.ibm.com>
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coming soon ... | ||
# Why Fabric? | ||
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Hyperledger Fabric (hereafter referred to as Fabric) is a blockchain platform | ||
designed to allow the exchange of an asset or the state of an asset to be consented | ||
upon, maintained, and viewed by all parties in a permissioned group. A key characteristic | ||
of Fabric is that the asset is defined digitally, with all participants simply agreeing | ||
on its representation/characterization. As such, Fabric can support a broad range of | ||
asset types; ranging from the tangible (real estate & hardware) to the intangible | ||
(contracts and IP). | ||
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The technology is based on a standard blockchain concept - a shared, replicated ledger. | ||
However, Fabric is based on a permissioned network, meaning all participants are | ||
required to be authenticated in order to participate and transact on | ||
the blockchain. Moreover, these identities can be used to govern certain levels of | ||
access control (e.g. this user can read the ledger, but cannot exchange or transfer assets). This | ||
dependence on identity is a great advantage in that varying consensus algorithms (e.g. | ||
BFT based or Kafka) can be implemented in place of the more compute-intensive Proof-of-Work and | ||
Proof-of-Stake varieties. As a result, permissioned networks tend to provide higher | ||
throughput and performance. | ||
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Once an organization is granted access to the blockchain network, it then has the ability | ||
to create and maintain a private channel with other specified members. For example, | ||
let's assume there are four organizations trading jewels. They may decide to use | ||
Fabric because they trust each other, but not to an unconditional extent. They can | ||
all agree on the business logic for trading the jewels, and can all maintain a global | ||
ledger to view the current state of their jewel market (call this the consortium channel). | ||
Additionally, two or more of these organizations might decide to form an alternate | ||
private blockchain for a certain exchange that they want to keep confidential | ||
(e.g. price X for quantity Y of asset Z). They can perform this trade without affecting | ||
their broader consortium channel, or, if desired, this private channel can broadcast some | ||
level of reference data to their consortium channel. | ||
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This is powerful! This provides for great flexibility and potent capabilities, along with | ||
the interoperability of multiple blockchain ledgers within one consortium. This is the | ||
first of its kind and allows organizations to curate Fabric to support the myriad use | ||
cases for different businesses and industries. Hyperledger Fabric has already been | ||
successfully implemented in the banking, finance, and retail industries. | ||
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We welcome you to the Hyperledger Fabric community and are glad to hear your architectural | ||
and business needs, and help determine how Fabric can be leveraged to support your use case. |