NPCI launches India’s own blockchain-backed open-source project “Falcon”: All the details
India has maintained a rather skeptical stance on accepting cryptocurrencies as part of its financial system, but remains open-minded when it comes to exploring blockchain technology. The National Payments Corporation of India (NPCI) on August 29 announced the launch of Falcon – an open-source project aimed at simplifying the management and use of blockchains based on “Hyperledger Fabric” and on top of Kubernetes -Clusters are supported. Essentially, Falcon aims to help developers drive innovation in blockchain-based payment solutions.
“Whether you’re a blockchain enthusiast, a developer, or a company looking to harness the power of distributed ledger technology with Hyperledger Fabric, Falcon is your solution of choice for efficient, reliable, and automated fabric network deployment,” the company wrote NPCI in their report official statement.
This offering from NPCI is designed to help blockchain developers leverage distributed ledger technology to enable efficient, reliable, and automated deployment of network and Web3 solutions.
What is Hyperledger?
According to Investopedia, Hyperledger Fabric was initiated by Digital Asset and IBM. Hyperledger Fabric is an enterprise-level permissions blockchain network. The framework serves as a basis for creating blockchain-based products and solutions.
What are Kubernetes clusters?
Developed in 2014 by Google engineers Joe Beda, Brendan Burns, and Craig McLuckie, Kubernetes is an open-source platform that supports management of packaged software code, also known as containerized applications. A Kubernetes cluster is a set of nodes running containerized applications.
“Kubernetes automates operational tasks of container management and includes built-in commands for deploying applications, rolling out changes to your applications, scaling up and down your applications to meet changing needs, monitoring your applications, and more—making it easier will manage applications,” Google Cloud explained in its blog post.
About NPCI’s Falcon plans
Falcon will combine the elements of Kubernetes and Hyperledger to simplify the creation and maintenance of advanced blockchain solutions.
Many have congratulated NPCI on launching Falcon, predicting that it “could accelerate the deployment of a blockchain-based solution in the last mile and improve the developer experience.”
As early as 2020, NPCI developed “Vajra”, a blockchain-based system for automating payment processing and settlement processes for NPCI products.
