Blockchain is a distributed network where every party on the network shares an identical copy of the database. Blockchain is an immutable ledger, which means that once data has been added to the blockchain, it can never be deleted or tampered with.
As the name suggests, blockchain technology consists of a chain of blocks. All of the transactions between two or more parties on a blockchain network are recorded inside blocks that are cryptographically linked together. Each block has a unique hash and includes a unique hash of the previous block.
A consensus protocol validates each transaction on the blockchain, which eliminates the need to have third-party verification.
In order to make blockchain technology accessible to all, many organizations have come forward with their own blockchain protocols. Anyone can start building their blockchain solution by simply creating an application on top of a blockchain platform. Each platform has its own unique configuration and offerings, but the most common factors that differentiate one blockchain from another are consensus algorithms, programming languages, block configurations, cryptographic standards, hashing algorithms, and identity mapping, among other parameters.
One of the most popular blockchain platforms is Hyperledger Fabric, which is a permissioned private protocol.
Hyperledger Fabric is a blockchain platform built for promoting enterprise usage and adoption. Public networks such as Bitcoin and Ethereum cannot accommodate enterprises' privacy and authorization needs, which is why they have turned towards private blockchains such as Hyperledger Fabric.
In essence, Hyperledger Fabric is a permissioned Blockchain. Anyone who wants to be a part of a Hyperledger Fabric network needs to be permitted to join it. Contrary to other blockchain platforms, Hyperledger Fabric gives complete control of the blockchain to the developer. Hyperledger Fabric provides an outstanding flexibility level to the developers making it a perfect fit for many use cases such as healthcare, supply chain, banking, insurance, and more.
The transaction architecture of Hyperledger Fabric is execute-order-validate. Every transaction that happens over a Hyperledger Fabric Network is executed, ordered in a sequence through the consensus protocol, and validated according to predefined rules included in the endorsement policy. The transaction data is then added to the distributed ledger.
Catalyst Blockchain Platform makes it possible for anyone, whether technical or non-technical, to create blockchain networks. It allows users to easily create complex, scalable, production-grade blockchain applications with a simplified process and an advanced user interface.
Some of the biggest hurdles in creating a Hyperledger Fabric network are setting up the development environment, network configurations, and intensive programming for various purposes. However, with the Catalyst Blockchain Platform, you can add various components to your Hyperledger Fabric Network, configure those components, remove them, and easily create multiple scenarios with just a few clicks.
Whether adding new peers, creating a new channel, instantiating or installing chaincodes, or several other tasks, the Catalyst Blockchain Platform provides a seamless environment for all of your activities on a Hyperledger Fabric blockchain network.
On the other hand, people who possess the technical expertise to manage entities on a Hyperledger Fabric blockchain network are usually required to spend a tremendous amount of time on each activity. They have to work with several scripts and ensure that they execute every single statement correctly for the whole network to perform optimally. The Catalyst Blockchain Platform allows such professionals to focus more on their use case by providing a powerful interface for managing their entities on a Hyperledger Fabric Blockchain network.
With Catalyst Blockchain Platform, creating or managing entities is just a few clicks away.