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Hyperledger Fabric Blockchain Re-engineered To Boost Speed By 7x

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Researchers at the University of Waterloo in Canada have re-engineered The Linux Foundation's open-source Hyperledger Fabric blockchain to increase the speed of transactions per second on it by almost seven-fold. The Hyperledger Fabric is currently being used in a variety of industries and sectors.

The blockchain can now process 20,000 transactions per second, up from the previous transaction speed of 3,000 per second. The revamped Hyperledger Fabric recorded a 7x surge in transaction speed with its application programming interfaces and modularity remaining intact.

The redesigning was done in ordering service, transaction service, and data management layer and the three steps together boosted the end-to-end transaction throughput.

The increase in speed could help the fast-paced sectors such as e-commerce, payment providers, financial institutions, IT companies, and engineering firms.

IBM's Food Trust blockchain platform is among the most well-known applications of Hyperledger Fabric blockchain, which is used to make food supply chains safer and more sustainable. More than 500 applications based on the blockchain are at various stages of deployment. It is being used for securing land registries to tracking diamond shipments to tracing the source of agricultural products.

Researchers said they are now aiming to accelerate Hyperledger Fabric to 50,000 transactions per second.

A paper detailing the work titled, FastFabric: Scaling Hyperledger Fabric to 20,000 Transactions per Second, authored by Waterloo's Faculty of Mathematics researchers Gorenflo and Keshav, Faculty of Engineering's Golab and PhD candidate Stephen Lee from the University of Massachusetts, will be presented at the 2019 IEEE International Conference on Blockchain and Cryptocurrency later this month.

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