Hyperledger Fabric is a widely used private blockchain, primarily in enterprise settings to make transactions between multiple businesses more efficient. It has a modular design that enables five core functionalities:
- Can define asset types and consensus protocol.
- Can set permission on who can join the network.
- Nodes are divided into two: Peer nodes to execute and verify transaction and Ordering nodes to order and propagate transactions in a chronological order.
- Ledger consist of a database of the current state and a log of transactions stores as a blockchain.
- Assets are added, updated, and transferred using chaincode.