The global blockchain technology market size is Expected It will reach 72 billion U.S. dollars in the next five years. However, in order to ensure this growth, blockchain solution providers must continue to advance and innovate.
For example, the use of blockchain in public enterprises has become a continuing trend this year, as companies such as ConsenSys aim to Promote the adoption of open, permissionless networksOn the other hand, it is important to point out that private blockchains are still being used by enterprises and will continue to be used as innovation continues.
Promote an open and permissioned blockchain network
Recently, the computing giant IBM Announce It has open sourced most of the Hyperledger Fabric code to help increase the adoption rate of enterprise blockchain use cases.
Kareem Yusuf, general manager of IBM artificial intelligence and blockchain applications, told Cointelegraph that this is one of IBM’s biggest contributions to open source code. He further pointed out that the company is launching a new Hyperledger Fabric support product, and at the same time donating the code that supports the token exchange on Hyperledger Fabric, called the Fabric Token SDK. Yusuf said:
“Our purpose is to ensure that we have a vibrant and active Hyperledger community. To support this, we announced two key initiatives. One is to donate the management console code function in the IBM Blockchain Platform to the Hyperledger Labs world. One is to provide support for those who want to use Hyperledger Fabric and provide full product support from IBM.”
Yusuf said that IBM’s important code contributions will make it easier for Hyperledger users to use Fabric, which is a Enterprise-level distributed ledger platform Cater to various enterprise use cases. IBM’s blockchain platform is supported by Hyperledger Fabric.
It is also worth mentioning that Hyperledger was launched by the Linux Foundation in 2015 as an open source collaborative project to promote cross-industry blockchain technology. Hyperledger hosts many enterprise blockchain projects, such as Fabric.
Hyperledger executive director Brian Behlendorf told Cointelegraph that IBM’s new contribution will make it easier for every developer to build and manage on the Fabric blockchain network.He further pointed out that these new efforts are Organized As “labs”, they are projects independent of Fabric, but used to build the Fabric framework.
For example, Behlendorf pointed out that Fabric’s “Token SDK” will help formalize the method of managing tokens on Fabric.It has always been possible to build tokens on Hyperledger because Metacoin (MTC) is The first cryptocurrency based on Hyperledger In order to achieve the status of the mainnet in 2018. Although this is a feature provided to developers, Behlendorf pointed out that it previously required a lot of “do it yourself” effort. “This is now better supported,” he commented.
Behlendorf added that another laboratory, the “Fabric Smart Console”, can more easily monitor and manage a cluster of Fabric nodes across the network. Once IBM’s fully supported products are available on the Red Hat Marketplace sometime this fall, it should be easier for developers to use the two labs. The product will include access to IBM-certified images, code security scanning, and 24/7 customer support. Yusuf added:
“Being able to manage Hyperledger Fabric has always been challenging. One of the main issues to consider here is support. If all support costs are contained in a single project, it cannot be monetized across other projects and the cost will be higher. However, standardized support The product can be well built to fit multiple use cases.”
Specifically, Arun SM—Hyperledger contributor, head of the Hyperledger India chapter, member of the Hyperledger Technical Steering Committee—told Cointelegraph that the announcement of the key Fabric Smart Console for the operational part of the IBM blockchain platform was surprising and pointed out that it is now Revealed the secret sauce:
“There are projects in Hyperledger (including labs) that can deploy networks to help visualize and monitor the deployed networks, including performing various levels of operations. The exciting new release is that the IBM Blockchain Platform has been used in many production applications. It Is mature and experienced. Having a self-hosted management portal with an intuitive UI that can hide complexity and reduce network management is a blessing in disguise for many people.”
Ultimately, Yusuf explained that these new products will help increase the adoption rate of blockchain use cases for enterprises wishing to take advantage of the permissioned network.In addition, Yusuf pointed out that making the Fabric code open source will help reduce costs, which has been a major challenge for small and medium-sized companies. Want to use a licensed network.
This is important for many reasons.For example, even if an industry report shows that the adoption of public blockchains has Appeared As a leading market segment, Yusuf mentioned that enterprise use cases that utilize shared, permissioned blockchains are still crucial-especially for use cases such as supply chain management:
“By definition, a supply chain is a network that involves sharing information between suppliers and different parties, so you need a blockchain infrastructure to solve issues such as inventory visibility, sources, and responsible sourcing.”
By allowing the foundation of Hyperledger Fabric to be open, Yusuf believes that this will encourage more people to participate and collaborate using the permissioned network.
The Hyperledger community is expected to grow
In addition to using an open, permissioned network to promote the adoption of enterprise blockchains, IBM’s contribution may attract more developers to join the Hyperledger community.
According to Behlendorf, the impact of IBM’s open source products will bring more developers to Hyperledger Fabric and the entire community. “This is expected to inspire more people to become contributors and core maintainers,” he said.
Therefore, companies that utilize Hyperledger Fabric may grow.For example, the Filecoin Foundation recently Announce It has become a member of the Hyperledger community. Marta Belcher, Chairman of the Board of the Filecoin Foundation, commented that Filecoin (FIL)’s decentralized storage capabilities have great potential in the enterprise field. “We are very happy to join Hyperledger, the leader in enterprise blockchain technology, to explore these possibilities,” she said.
It is also worth noting that IBM’s contribution to Hyperledger Fabric demonstrates the company’s commitment to advancing enterprise blockchain. This is the key to understanding, because there have been rumors that the IBM Blockchain team is “disbanding.”
Yusuf said that he is particularly concerned about future scale and adoption. “From an IBM perspective, you can expect to see use cases that use blockchain to bring real end value to our customers.”