What is Hyperledger Fabric?
Hyperledger fabric is a blockchain project with Hyperledger, it has a ledger, smart contracts (chaincode) and manages participants transactions. Fabric is different from most blockchain systems because it is private and permissioned, where members enroll through a trusted Membership Service Provider (MSP). Fabric also offers many pluggable options for storage and consensus and even different MSPs are supported.
Fabric is made for business channels allow a group of participants to create a separate ledger. Creating separate channels allows for competitors not to see every transactions, keeps communication on a needs only basis.
Fabric has a powerful way to track transactions by using a shared ledger, which every participant of the network has a copy of. The shared ledger is used to keep track of the world state of the transaction log. The ledger has pluggable options for data storage the default is LevelDB but can connect with Kalfa.
When an application needs to interact with the ledger it uses smart contract written in chaincode. Chaincode interacts only with the world state of the ledger and not the transaction log.
Transaction must be written to the ledger in the order in which my occurred. For this to happen, the order of transaction must be established and a method for rejecting bad transactions that have been inserted into the ledger in error must be put in place. Ordering happens through a process called mining where nodes race to solve a cryptographic puzzle which defines the order that all processes subsequently build upon.
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