Implementation of Blockchain Solutions with MiniFabric for Rapid Prototyping

There is a significant demand for solutions based on blockchain technology because blockchain solutions tackle difficulties with efficiency, security, trust, and transparency in a variety of industries, which makes it a useful tool for resolving a wide range of concerns. Although blockchain technology has shown great promise in several use cases, adoption of blockchain-based solutions is hindered by a number of issues, including its complexity, lack of understanding, regulatory uncertainty, and energy consumption. Blockchain and cryptocurrency regulations are still being developed by numerous governments and regulatory agencies. It can be difficult to implement blockchain solutions and may call for specific expertise in decentralized network administration, smart contracts, and cryptography. It is essential to enhance education and awareness about blockchain technology to address these concerns. The technology's slower adoption might be attributed to the limited awareness among potential users regarding its capabilities and potential applications. Hence, it is clear that gaining proficiency in blockchain technology necessitates specific training and awareness. This research work aims to illustrate the utilization of MiniFabric tools in the development of solutions based on blockchain as this tool is good for rapid prototyping. To illustrate the implementation of the blockchain solution using the Mini Fabric tool, a scenario has been devised involving the presence of multiple organizations and peers within the network and then read and write operations are performed to compute the success rate. This study observed 100% success rate during both read and write operations at varying TPS (Transactions Per Second).