The new update of Hyperledger Fabric has been re-engineered to support almost seven times more transactions per second (TPS), according to a news release from Canada’s University of Waterloo on May 2.
The researchers have incorporated a new series of optimizations, that has purportedly increased the volume of data that the blockchain can process. Earlier, it maxed out around 3,000 TPS, the release claims that the network has managed to achieve 20,000 TPS. The Hyperledger Fabric is currently employed by financial institutions, IT giants and engineering companies
The development was focused on improving “end-to-end transaction throughput” by redesigning Fabric’s ordering service, transaction service and data management layer. That will make the blockchain is more practical for “fast-paced sectors such as e-commerce.” Christian Gorenflo, one of the university’s’ Ph.D. candidates, explained:
“Our modifications are completely under-the-hood. Fabric’s application programming interfaces and modularity stay intact, so existing applications work just as before.”
Professor Lukasz Golab adds that researchers are looking into collaboration with major Fabric contributors who want to adopt their optimizations in future releases. As per Golab, the reception so far as very positive.
Further, Professor Srinivasan Keshav elaborates that the team is now driven to pursue further optimizations, i.e. taking Hyperledger Fabric’s capacity to 50,000 TPS. The Hyperledger community has been growing in leaps and bounds.
Intel partnered with the ecosystem in February to launch a commercial package designed for businesses that want to launch their own blockchain quickly and efficiently. IBM is using its Hyperledger-based blockchain platform to improve supply chain management in the mining industry and ensure commodities such as cobalt are sourced responsibly.
Image Source – Hyperledger Twitter
Today the Hyperledger Technical Steering Committee approved identity protocol Indy to graduate from incubation to active status. Most of Hyperledger’s twelve projects are in incubation apart from the Fabric, Iroha and Sawtooth blockchain protocols.
Factors considered to become an active project include “code quality, security best practices, open source governance, and a diverse pool of contributors”.
Hyperledger Indy is the decentralized identity solution that aims to put the control of user data back in the hands of individuals, thereby safeguarding data from privacy breaches and hacking.
Private data is not stored on the Hyperledger Indy ledger. Instead, it uses blockchain to enable third parties to verify that private credentials are issued by trusted organizations. The code was contributed to Hyperledger by startup Evernym and the Indy technology underpins the public Sovrin network.
Sovrin’s first partner was CULedger, the credit union service organization which is also backed by numerous credit unions. CULeger’s MyCUID enables members to enjoy more secure alternatives to passwords such as voice and fingerprint login.
IBM is a big fan of Sovrin and is working on a Job-Creds employee credentialing research project with Sovrin, Workday and ATB Financial. And Canada’s British Columbia Government launched the Verifiable Organizations Network (VON) which enables data to be used for registrations, permits and licenses. Other “stewards” of the Sovrin network include Cisco, Deutsche Telekom, NEC and Swisscom.
Just three weeks ago Sovrin announced that the platform was open for any organization to begin issuing credentials.
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In this developer code pattern, we will take a look at how to query the world state of a peer within Hyperledger Fabric. The world state, implemented as a database, contains all of the network history (e.g., transactions issued). Querying the world state is useful for seeing the current state of the assets in the network. We will use the commercial paper use case from the Hyperledger Fabric 1.4 documentation. You’ll go through the process of creating indexes for the CouchDB world state database, update the smart contract to include the logic to query the world state using the newly created indexes, simulate 100 transactions to populate the world state with assets, then run a few queries utilizing the Node.js SDK and view the returned results.
Before we jump into showing how to query the world state, we first need to understand what database indexes are and how they can help us with queries.
In order to understand indexes, let’s take a look at what happens when you query the world state. Say, for example, you want to find all assets owned by the user “Bob.” The database will search through each JSON document in the database one by one and return all documents that match user = bob. This might not seem like a big deal, but consider if you have millions of documents in your database. These queries might take a while to return the results since the database needs to go through each and every document. With indexes, you create a reference that contains all the values of a specific field and which document contains that value. What this means is that instead of searching every document, the database can just search the index for occurrences of the user “bob” and return the documents that are referenced. It’s important to note that every time a document is added to the database, the index needs to be updated. Normally in CouchDB, this is done when a query is received, but in Hyperledger Fabric, the indexes are updated every time a new block is committed, which allows for faster querying. This is a process known as index warming.
The developer creates the query indexes.
The developer adds query logic to the smart contract.
The IBM Blockchain extension for VSCode is then used to package, install, and instantiate the smart contract and indexes on the local Hyperledger Fabric network.
We simulate 100 transactions on the network to populate the world state with data.
The Node.js client application uses the Hyperledger Fabric SDK to send the query to the endorsing nodes to evaluate the query transaction.
The query results are returned.
Ready to get started? Check out the README for detailed instructions.
CLEVELAND, Ohio — A Cleveland company will sell a system to put car titles on blockchain, helmed by car dealership owner and Cleveland “Blockland” leader Bernie Moreno.
Moreno is the chair of Ownum, a blockchain technology company that announced its first product, CHAMPtitles, on Friday. The system will allow the current car titling process to move online, ending with digital titles you can display on your smart phone.
Blockchain is an hyperledger system which allows users to store data online in a series of entries. When you put car titling on the blockchain, it makes information immediately available to people who need access, like car dealerships, state government, insurers and auto-manufacturers.
For example, when you buy a car, you could make a payment to a bank or dealership and have the resulting documents available to you almost immediately. Those transactions would be recorded on the blockchain and remain un-editable, so that other entities can see proof of payment. The information is, theoretically, more reliable.
The product’s current target is state government. A team of 15 employees already reached out to every state to gauge interest. Interest varies — Oklahoma is the top of the list, but Ohio is just behind, Moreno said. The change wouldn’t be immediate. The CHAMPtitles system integrates with existing government paper systems and would phase them out over a number of years.
When Moreno launched Blockland, an effort to make Cleveland a blockchain hub, he consistently used car titles as an example of the technology’s applications.
“First of all, it’s what I know. That makes it easier,” Moreno said. “Car titles are near and dear to my heart. I’m intimately aware of the friction that’s involved with having this crazy piece of paper. If you ask people in the car business, auction business, insurance business who handle these titles, or bankers, they’ll tell you this piece of paper causes major administrative issues for everybody involved.”
Back when Blockland began last May, Moreno’s company didn’t have the technology to put titles on blockchain. Now that it’s developed, Moreno wants to be active in a handful of states in the next three to six months and then in all 50 states in the next two years.
Ownum is housed at a former Nissan dealership on Brook Park Road, and about half of its employees are from the Northeast Ohio area. Ownum’s CEO is Shane McRann Bigelow, formerly the director of a private wealth practice. The business’s “solutions manager” is Randy Cole, former executive director of the Ohio Turnpike Commission.
“We’re really excited about building a tech company in Cleveland, even though everybody told me a year ago we could never pull it off, meaning that we’d never find the talent, resources and atmosphere,” Moreno said.
To see how the technology works, read more on the CHAMPtitles website.
Boston-based private equity real estate firm Muirfield Investment Partners is pleased to announce that blockchain specialist and CTO of IBM Blockchain Gari Singh has joined the firm as an advisor. Muirfield is leading the effort to reinvent and improve private equity investing through the use of blockchain technology, and Mr. Singh’s technical expertise will help guide Muirfield’s efforts in both the near and long term.
About Gari Singh
As a Distinguished Engineer and the CTO of IBM Blockchain, Gari Singh has provided the guidance and leadership that has made IBM a in the blockchain space. He is responsible for IBM’s core blockchain platform as well as IBM’s blockchain as a service offering.
Mr. Singh is also a core maintainer and contributor to Hyperledger Fabric, an open source blockchain technology designed to meet the needs of businesses. He led the development and deployment of the IBM Blockchain on Bluemix, a peer-to-peer permissioned network built on top of the Hyperledger Fabric code, which provides tools for developers building blockchain applications.
About Muirfield Investment Partners
Muirfield Investment Partners is an opportunistic private equity real estate investment firm headquartered in Boston, MA, leading the effort to reinvent and improve private equity investing through the use of blockchain technology. By utilizing blockchain technology, Muirfield’s proprietary investment solutions aim to solve key structural issues with traditional private equity funds, offer investors liquidity, and improve alignment with their investment managers.
Muirfield Founder, Tom Zaccagnino, stated:
“I am thrilled to have someone of Gari’s global stature involved in our initiative. Gari will no doubt bring tremendously valuable experience and perspective to the table for our initial blockchain efforts as well as future investments and initiatives that we plan to make in the blockchain space.”
Mr. Singh has long recognized the world-changing implications of blockchain technology and is pleased to be working with a company who understands its potential to move their industry forward. In joining Muirfield, Mr. Singh said:
“What made me want to get involved with Muirfield is that they realize the value of using blockchain technology to drive significant improvements to the entire private equity industry; not just their business. They are not afraid to use new technology to transform their business and create value for their investors.”Opinions expressed here by Contributors are their own.
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