In chapter 2, the author describes Hyperledger Fabric and its components. choose one of the Hyperledger design principles described in chapter 2, and explain why your chosen design principle is import

Professor Michael Solomon BLCN 532 Blockchain development Chapter 2 Chapter 2 • Exploring Hyperledger Fabric • Frameworks, tools, and building blocks • Component design • Sample transaction lifecycle • Governance in business networks Fundamentals of the Hyperledger Project • Open source technology development The Linux Foundation • Open source project • Purpose is to advance cross - industry blockchain Hyperledger Open Source / Open Standards Lower cost of software consumption Innovation and extensibility Sustainable development and innovation stream Security and reliability Speeds up development and market adoption Hyperledger Frameworks Iroha – mobile development projects Sawtooth – focus is versatility, includes a new consensus algorithm (Proof of Elapsed Time) Burrow – meets the Ethereum Virtual Machine (EVM) specification Fabric – general blockchain foundation Indy – support for independent identites Frameworks and Tools Hyperledger Tools Explorer – view blockchain data Cello – implements a blockchain service Composer – collaboration tools for blockchain development Quilt – integration protocol Caliper – blockchain benchmark tool Blockchain building blocks Hyperledger Fabric Components Principles of Hyperledger Design MODULAR AND EXTENSIBLE APPROACH INTEROPERABILITY FOCUS ON SECURE SOLUTIONS TOKEN AGNOSTIC APPROACH FOCUS ON RICH AND EASY -TO -USE APIS Hyperledger Fabric Reference Architecture Hyperledger Fabric Runtime Architecture Advantages of component - based design Separates development design from runtime Discerning between design imperatives and deployment capabilities Incorporates network design principles Addresses channel design principles Adopts Hyperledger Fabric composer model -driven development Journey of a Sample Transaction Hyperledger Fabric Actors Developer Interaction Governance Body that establishes rules Blockchain governance is distributed • Degree of distribution depends on cooperation between nodes Aspects of blockchain governance • IT governance (risk) • Network governance • Business network governance Summary • Hyperledger Fabric – modular blockchain • Understanding the modular approach and main components is important • Transaction flow • Endorsement • Ordering • Validation • Governance is necessary to maintain blockchain network operation