Huawei, a Chinese multinational networking, telecommunications equipment and services company, has launched a Blockchain-as-a-Service (BaaS) platform, on the Basis of the Hyper Ledger Fabric 1.0 on the market. The company is headquartered in Shenzhen, announced this on Tuesday at its analyst conference.
What is Hyper Ledger?
Hyper Ledger’s Website explains it this way:“Hyper Ledger is a collaborative Open Source project with the goal in the development of cross-sector Blockchain-technologies. This global collaboration was organized by The Linux Foundation and is one of leaders in the Finance, Banking, IoT, supply chain, manufacturing, and technology industries to the participating actors.“
In short, Hyper Ledger is a Kernel for the open Blockchain-progress. Hyper Ledger Fabric is a platform for distributed ledgers with a high Standard of confidentiality, flexibility, and scalability. It is designed to support Plug-in-enabled versions in different areas and the many-sided quality and complexity of the financial world. Hyper Ledger Fabric 1.0, the Open Source distributed Ledger project of Hyper Ledger was launched in July 2017. The Huawei Blockchain project is focused on the development of Smart Contracts (smart contracts).
Hauwei’s white paper, these are the characteristics of the BaaS platform:
The BaaS platform will enable organisations Smart Contracts on a distributed Ledger network.
The platform enables customers to develop smart contract applications [Smart Contract Applications], which mainly focus on production networks and open administrations, such as the testing and verification of ID and Token security resources.
The following diagram represents Huawei’s proposed Blockchain System architecture.
The Design principles of BaaS:
BaaS is implemented on Huawei’s Cloud, which is solid and in an open and worldwide customers. Huawei Cloud implemented distributed data centers for customers. This is supported by cost-effective, flexible security on telecommunication basic and systematic Administration. Huawei Business Consulting Services (BCS) is a Cloud strategy consulting company. This can also be coordinated with existing Huawei’s Cloud products and will help organizations to move in a safe, effective and carefully designed approach to the Cloud and implement new systems and applications quickly.