Having roots in blockchain technology, Hyperledger helps enterprises keep their multi-party engagements traceable, immutable, and tamperproof.
Aimed to solve the problems of highly regulated businesses that operate in a multi-participant environment — from supply chain to banking to healthcare organizations, Hyperledger comes as a natural extension to traditional blockchain technologies.
Before Hyperledger, many of these deals were handled through extranets or even an array of them. Companies had to switch back and forth between their internal enterprise systems and external portals with multiple contractors and business partners. It considerably slowed down all the key business processes and led to numerous split-up ledgers and data inconsistency.
Blockchain technologies are already part of Softeq’s tech and R&D stacks. We’ve been exploring the technology to understand how to eliminate human error, remove excessive paperwork, and get rid of multiple middlemen underlying complex business operation cases. Our blockchain R&D group studies individual business cases that can benefit from the Hyperledger technologies and explores their real-life applications through pilot projects. When you turn to our team with your business problem, we are likely to come up with an immediate solution vision or be ready to research your unique case to deliver a custom system.
At Softeq, we create shared ledger systems to help our clients address their major business challenges — from lack of data integrity, its redundancy or transformation issues to vulnerability of connected systems to network attacks to wasted opportunities and overheads imposed by complex workflows and human-driven regulation at each step.
We tap our domain expertise in the IoT, BI, online marketplace commerce, finance, supplies management, among others, to attend to the specifics of such businesses with solid tech solutions. If you need a productive IoT-driven smart grid and you need it powered by Hyperledger, we’ll employ our knowledge of sensor technologies, connectivity protocols and power-efficient device operation. Drawing on this expertise, we’ll deliver transparency and data immutability with the distributed ledger architecture to the connected network of smart energy devices.
To get the Distributed Ledger Technology solution right, we need to know how your business operates. We’ll work closely with your team to understand roles and tasks, relations and collaboration workflows, what constitutes information confidentiality and goals for all the participants of your system. After exploring all interdependencies of the prospective solution, we’ll architect a system reliable by design, which would serve as a foundation for sustainable permissioned enterprise blockchain software. If you operate in a strictly regulated industry, we might need to factor in one single membership service provider (MSP) managed by a regulating authority. It will be a single point of reference for issuing member certificates to all Hyperledger system participants.
Alternatively, it can be a system with equal business entities which will have their own MSPs to allow their own employees into the Hyperledger system.
To cover the entire range of your business, operational and functional requirements, Softeq will integrate your core distributed ledger with:
The problems you are set to solve and relations with other distributed ledger participants will affect the eventual choice of technology and consensus algorithms (mechanisms that validate the correctness of transactions and their order of processing): PoET and Hyperledger Sawtooth, PBFT and Hyperledger Fabric, YAC and Hyperledger Iroha, or another combination.
If you are set to build a system for internal users and assume they have a high level of trust between them, the use of the Byzantine Fault-Tolerance consensus may cause unjustified drain of computational power and impede the scalability of your system. It uses lottery-based leader election algorithm and requires several rounds of voting to achieve consensus. All this provides higher level of finality, yet gobbles up your system resources.
We’ll navigate you through a variety of frameworks and consensus protocols, picking the ones that embrace the specifics of your business environment. Be it a cryptocurrency-based or non-cryptocurrency-based consensus systems, a permissioned and public, permissioned and private or permisionless and public distributed ledger system, we’ll help you decide which options will work best in your business situation.
We’ll analyze your requirements and program contractual obligations in smart contracts, set-up endorsing rules and write transactions. The executed chaincode will support both efficient workflows across your Hyperledger channels, and immutability and consistency of all individual ledgers within each channel.
If you need Ethereum capabilities on top of your Hyperledger system, Softeq takes advantage of Hyperledger Burrow to facilitate their implementation. With Hyperledger Burrow, smart contract functionality is easily built upon other Hyperledger projects, since the code runs on the Ethereum Virtual Machine.
We have well-established practices for full-scope testing of your blockchain solution. Softeq QA engineers will run comprehensive quality checks for business logic and documentation, blockchain nodes, chaincode and integration with the ecosystem to make sure that business rules reflect your business goals, smart contracts run correctly, there are no security vulnerabilities and data leaks at the integration points, and all system participants possess valid rights and permissions.
To ensure your solution is released and updated smoothly, we’ll take care of DevOps. Our engineers will set up a fault-free delivery environment, scalable infrastructure, and continuous integration.
Hyperledger combines the best of the two approaches. Where the original blockchain technologies like Ethereum fail to provide control, opportunities for regulation and standardization of transactions and processes, Hyperledger replaces the anonymity with consenting mechanisms, transparency, and auditable workflows. The relations are run by machine code rules but are overseen by a regulating authority.
Where traditional enterprise web solutions like supply chain portals miss out on efficiency and can be drowned in bureaucracy, Hyperledger remains immune to wrongdoing and any sort of manipulative behavior, and stands up to these problems with unshakeable security.
Just as with classic blockchain technologies, cryptography authenticates all contractual terms in your Hyperledger-powered software. The pre-defined conditions within your value network are executed in the chaincode. This means the contractual terms are cleared much faster as compared to human-driven settlements. Since all the processes run without intermediaries and time-consuming negotiations at each step of the supplies flow process, the multiple counterparties get a notable efficiency improvement. At the same time, no transaction data can be changed, removed or added bypassing the chaincode. Any deliberate manipulation is next to nothing.
Unlike with permissionless blockchain solutions, with Hyperledger all cryptographic identities that take part in the process correspond to real-world identities. They can be easily tracked and associated with any transaction they perform on the ledger. That means any resulting disputes will be taken to the real world and handled in compliance with industry regulations. A membership service provider with a certificate authorizes each single user into the shared ledger platform. In classic blockchain systems, the unbiased code keeps counterfeits circulation in check. However, interested parties can close illicit deals with each other under anonymous identities, while the code itself will still conform to the rules. As opposed to that, with Hyperledger, any users aiming to trade counterfeit goods are likely not to be allowed into the system in the first place.
With the Hyperledger technology, your company cooperates on multi-step, multi-component activities more efficiently. At Softeq, we create modular and scalable Hyperledger-driven systems with built-in security. While keeping business process stakeholders identifiable, they help our clients improve productivity with these tasks:
FRONT END & ECOSYSTEM
ENCRYPTION, DIGITAL SIGNATURE, HASHING
TRACEABILITY — AUTHENTICITY CONFIDENCE
Track the provenance of goods and materials, verify their authenticity and trace transaction initiator identity to ward off counterfeit or any type of forgery
CONSOLIDATED LEDGER — NO DISCREPANCIES IN DATA
Mutualize transactions, databases, infrastructure between independent entities with all of this data committed to a distributed ledger and stored by all the participants (peers)
IMMUTABILITY — INTACT DATA
Avoid process exploits and nefarious practices with every peer node running a consensus and maintaining an identical ledger within their network (channel)
REGULATED TRANSACTIONS — MINIMIZED RISKS OF ILLICIT ACTIVITY
Keep confidentiality of commercially sensitive information, but validate each transaction before sending it for processing and committing it to a shared ledger
REDUCED OVERHEADS — HIGHER SPEED
Automate payments, transactions and document processing with unbiased chaincode, less human involvement and faster than Proof-of-Work (PoW) consensus protocols.