Hyperledger Indy Consensus Algorithms
Hyperledger Indy uses the Byzantine Fault Tolerant (BFT) consensus algorithm, specifically the Plenum consensus algorithm. BFT algorithms are designed to ensure consensus in a network even in the presence of unreliable or faulty nodes.
The Plenum consensus algorithm used by Indy is a modified version of the PBFT consensus algorithm, optimized for large-scale, decentralized networks. In the Plenum consensus algorithm-
- A designated set of nodes, called Replicas, are responsible for processing transactions and maintaining the state of the ledger.
- Transactions are validated by a quorum of Replicas, ensuring that consensus is reached even if some Replicas are unreliable or unavailable.
- This provides high levels of reliability and fault tolerance, making it well-suited for large-scale identity management systems.
Hyperledger Indy in Blockchain
In order to provide self-sovereign identification, the Hyperledger foundation created the Hyperledger Indy blockchain network. This network was created specifically for decentralized digital identity management. The platform offers several reusable components that are used to build digital identities for entities, along with tools and libraries. Users can use these IDs in any other application because Hyperledger keeps them on its openly accessible distributed ledger.
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