Building a blockchain approach with hyperledger transaction flow and distributed consensus algorithms

Abstract

Blockchain is an important, emerging technology and specifying lot of possibilities, its very much trending topic in recent years. Bitcon is well known implementation of block chain technology, Bitcoin in cryptocurrency has turned the recognition of the universe towards a unique technology. Its benefit as decentralization, persistency and consistency of sharing the informations, blockchain is a distributed ledger that can record transactions efficiently verifiable and permanent way between two parties. Blockchain technologies focus on various applications perspectives and discuss the new technological challenges in confidentiality, integrity, authentication, internet of things and smart contract etc. it can be used to record the peer to peer network with public or private key pair of transactions, authors signed the transactions to be verified with key pair, save the transactions in blockchain network, once the transaction verified it cannot be altered subsequently. This paper present and focus on various techniques of hyperledger fabric systems architecture, transaction flow, membership and identity management, then understanding of hyperledger fabric with consensus algorithms. Hyperledger is one of the fastest growing open-source blockchain, it can dozens of company working together, building a blockchain fabric that can support the framework to test the interaction between application and secure blockchain networks, that require every peer to execute every transaction maintain a ledger and run consensus, does not support private blockchain and confidentiality. The first block chain systems is hyperledger fabric run on distributed applications with multiple programming language.