We all know that the blockchain era started when an unknown entity named Satoshi Nakamoto published a paper in 2008, which was later implemented and released as Bitcoin - the decentralized digital currency. Since then, the underlying technology has evolved over the years and was proved to be one of the best solutions for converting assets to digital entities that can be assigned with an owner, transfer ownership, write rules on when a certain transfer can happen with the help of smart contracts - all of which are happening decentrally in a tamper-proof manner without the involvement of a central authority. This process of converting real life assets into tamper-proof digital entities (called tokens) is called Asset Tokenization.
Asset tokenization indeed is a great use case for blockchain that can be applied to multiple industries to reap out many benefits from saving costs to saving time. Although, for industries to adopt this, they have to cross the barrier of the complexity of developing fool-proof smart contracts and running production-ready, fault tolerant blockchain networks and those on top of highly available, scalable and fault-tolerant infrastructures.
Here at Spydra, we aim to break that barrier and make blockchain and Asset Tokenization ever so easier to adopt. We have developed a Blockchain-as-a-Service platform for Asset Tokenization using which production ready blockchain networks along with smart contracts can be deployed by anyone without needing much technical knowledge and with ease. Developing a production-ready blockchain solution from scratch typically would require months of development time but with Spydra, it only takes minutes!.
That solves one part of the problem. Another part is being able to integrate the deployed blockchain solutions to existing systems with ease. Spydra also provides an out of the box API gateway with GraphQL support, which makes it a lot easier to integrate with blockchain solutions. A full stack or backend developer can perform the integration without needing to understand blockchain at all. It will appear as if they are interacting with a regular API server. Spydra also allows users to create event listeners which can be utilised to monitor the blockchain network.
The third part of the problem is writing smart contracts. Spydra provides an out of the box generic Asset smart contract, which can be configured as per the use case from the UI itself, without needing to write a single line of code! So, with Spydra, Asset tokenization with blockchain at scale has become easier than ever!
Key features of Spydra Blockchain Networks
- Production ready
- Highly available
- Fault tolerant
- Easily integrable via pre-deployed APIs with GraphQL support
- Pre-built generic Asset chaincode / smart contract - which is configurable as per user needs.
- Out of the box event listeners that can be used to monitor transactions happening in the blockchain.
- Ability to upload chaincode in a zip format which can either contain chaincode source or chaincode binary. This enables Spydra users to keep their chaincode source code private when deploying with the platform.
Spydra - Behind The Scenes
Spydra utilizes some of the well known tools from the open-source community such as Kubernetes, Jenkins, Ansible, Kafka, Hashicorp Vault to name a few.
We have adopted and repurposed Hyperledger Bevel, which is another open-source blockchain automation tool under Hyperledger umbrella.
The following are the list of modifications we have done to Bevel to make it it fit onto Spydra:
Changes for Hyperledger Fabric deployment:
- Optimised to reduce the network deployment time taken from about 30-40 minutes to under 15 minutes. This has been achieved by implementing non-blocking code strategy and parallelism, so when provided with decent compute power to the host machine and to the kubernetes cluster, network deployment even completes in about 5 minutes.
- Introduced support for Fabric version 2.5.0, which removes the need of system channel and lets orderer nodes join or unjoin any subset of the channels of the network. Further info about fabric v 2.5.0: https://hyperledger-fabric.readthedocs.io/en/release-2.5/whatsnew.html
- Enabled the ability to create orderer and peer nodes from within the same organization. This enhances decentralization.
- Included support for Kubernetes v1.23
- Added ability to deploy chaincodes in zip format, which can either contain chaincode source or chaincode binary, with the help of external chaincode builder.
- Implemented callback function that can notify the state of the ongoing deployment back to a REST API server, at different stages of the deployment.
- Optimised flux to be efficient with gitops and the underlying kubernetes cluster resources.
- Added functionality to upgrade or downgrade peer/orderer/ca pod resources.
- Stability, Reliability changes and bug fixes for all operations such as create/remove network/organisations/peers/orderers, create channels/chaincodes, upgrade chaincodes.
Bevel requires the underlying infrastructure and dependent services to be already present to be able to deploy blockchain networks on them. This includes:
1. A Kubernetes cluster
2. Hashicorp Vault for storing blockchain related crypto materials securely
Spydra creates these infrastructures / services on cloud before deploying blockchain networks with Bevel. Apart from that, Spydra also creates and uses Kafka clusters to improve the reliability of blockchain transactions and API services for blockchain networks.
If you want to learn more, we would love to connect with you. You can reach out to us at firstname.lastname@example.org or explore our app by Signing up here.