Hyperledger Consensus Mechanism Explained

It is a modular, general-purpose framework with distinct identity management and access control features that make it suitable for a wide range of industry applications such as supply chain tracking, trade finance, loyalty and rewards, and clearing and settlement of financial assets.

The hyperledger consensus mechanism is a multilayered mechanism designed to achieve reliability in a network involving multiple unreliable nodes, which function in three phases:

Endorsement:

It is driven by policy, a certain number of signatures are achieved and the transaction is endorsed.

Ordering:

The endorsed transaction is accepted and then committed to the ledger.

Validation:

The committed transaction is validated and approved.

This mechanism currently finds its use to achieve agreement on a single data value among distributed processes or systems.

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