What is the Hyperledger Iroha Project

Hyperledger Iroha - fourth project of the Linux Foundation officially online

Hyperledger Iroha is the Linux Foundation's newest blockchain project. After Fabric, Sawtooth and Indy this is now the fourth active project. Now C ++ and mobile app developers should also be able to make their contribution to the Hyperledger universe.

What is Hyperledger Iroha

Iroha is an open source project and distributed ledger. The project is hosted by the Linux Foundation. It is able to store the entire history of change of state and transactions using blockchain technology (What is blockchain?). The system is intended to be used in companies or between untrustworthy partners Private chain platform can be used. In contrast to a public chain, not every participant is allowed to view or save the entire course of actions and transactions on Iroha.

The general purpose of this permissioned blockchain system is to:

  1. manage digital assets
  2. Identify and serialize data
  3. Can be used for interbank processing, payment systems, digital currencies from central banks and logistics systems

On May 6th, 2019 the Linux Foundation presented Hyperledger Iroha in version 1.0. The new framework impresses with the following features:

  • A simple architecture that is easy to understand.
  • The codes available on the platform can easily be used to create digital assets
  • The platform has an Android and an iOS app. This means that users can also access the platform via their mobile phone.

Iroha features and uses

In the new version the Iroha Framework offers many new and unique functions:

  • YAC Consensus: YAC stands for Yet Another Consensus. It is a unique chain-based consensus algorithm for Byzantine Fault Tolerance. The consensus protocol ensures the security of the ledger, even if some nodes in the network are faulty or untrustworthy.
  • Fully functional multi-signature transactions
  • Updated Client Libraries: Customers can now create applications in many different languages. This allows applications to be created for different platforms from mobile to stationary. Java, JavaScript, Python and iOS are supported. Hyperledger Iroha users can now also work in Windows, Linux and MacOS environments. However, this function is still in the experimental phase.

The creation of dApps should be as easy as possible with the Iroha platform. The system has a basic concepts section. This is where users will learn how to interact with the Iroha Peers. The platform also has several client libraries. They provide the developers with tools and modules to make their work easier.

What makes Hyperledger Iroha different from other ledgers?

Iroha differs from permissionless ledgers such as Bitcoin or Ethereum. Because these allow everyone to join and access data. They also have their own native currency. Hyperledger Iroha, on the other hand, does not have its own currency and is a permissioned ledger. This means that only people who have the necessary rights can interact with the system. Querying data is also limited, so that not everyone has free access to any data within the network.

Another difference is that Iroha allows users to perform general functions. For example, it enables the creation and transfer of digital assets using ready-made commands in the system. This eliminates the need for customers to write hard codes to create smart contracts. Other tasks can also be carried out faster and with less risk through the frameworks and modules.

How does Iroha differ from other Hyperledger projects? Iroha uses the fault tolerant Byzantine consensus algorithm. It offers high performance and enables final transactions with low latency. The other Hyperledger frameworks sacrifice Byzantine fault tolerance for more probabilistic-oriented consensus algorithms such as the Nakamoto consensus.

The integrated commands from Iroha are also an advantage. They allow the user to easily perform smaller tasks such as creating accounts and digital assets and transferring those assets between accounts. Also, Iroha reduces the attack vector compared to other Hyperledgers. This makes the system more secure. Hyperledger Iroha is the only project that manages accounts with an authorization system. This allows individual permissions to perform actions and the scope of data access to be set for everyone who wants to join the network. To the project