Hyperledger Fabric Observes 7-Fold Increase In Transaction Speed After Update

by | May 3, 2019 | Blockchain, Cryptocurrency, Cryptocurrency News

Hyperledger Fabric | TPS | Transactions Per Second | Blockchain | Update

The new update of Hyperledger Fabric has been re-engineered to support almost seven times more transactions per second (TPS), according to a news release from Canada’s University of Waterloo on May 2.

The researchers have incorporated a new series of optimizations, that has purportedly increased the volume of data that the blockchain can process.  Earlier, it maxed out around 3,000 TPS, the release claims that the network has managed to achieve 20,000 TPS. The Hyperledger Fabric  is currently employed by financial institutions, IT giants and engineering companies

The development was focused on improving “end-to-end transaction throughput” by redesigning Fabric’s ordering service, transaction service and data management layer. That will make the blockchain is more practical for “fast-paced sectors such as e-commerce.” Christian Gorenflo, one of the university’s’ Ph.D. candidates, explained:

“Our modifications are completely under-the-hood. Fabric’s application programming interfaces and modularity stay intact, so existing applications work just as before.”

Professor Lukasz Golab adds that researchers are looking into collaboration with major Fabric contributors who want to adopt their optimizations in future releases. As per Golab, the reception so far as very positive.

Further, Professor Srinivasan Keshav elaborates that the team is now driven to pursue further optimizations, i.e. taking Hyperledger Fabric’s capacity to 50,000 TPS. The Hyperledger community has been growing in leaps and bounds. 

Intel partnered with the ecosystem in February to launch a commercial package designed for businesses that want to launch their own blockchain quickly and efficiently. IBM is using its Hyperledger-based blockchain platform to improve supply chain management in the mining industry and ensure commodities such as cobalt are sourced responsibly.

Read more: Intercontinental Exchange Smarty Stocked Up Cryptos During ‘Crypto Winter’

Image Source – Hyperledger Twitter

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