Hyperledger Fabric Elements
Channels are data partitioning mechanisms that allow transaction visibility for stakeholders only. Each channel is an independent chain of transaction blocks containing only transactions for that particular channel.
The chaincode (Smart Contracts) encapsulates both the asset definitions and the business logic (or transactions) for modifying those assets. Transaction invocations result in changes to the ledger.
The ledger contains the current world state of the network and a chain of transaction invocations. A shared, permissioned ledger is an append-only system of records and serves as a single source of truth.
The network is the collection of data processing peers that form a blockchain network. The network is responsible for maintaining a consistently replicated ledger.
The ordering service is a collection of nodes that orders transactions into a block.
The world state reflects the current data about all the assets in the network. This data is stored in a database for efficient access. Current supported databases are LevelDB and CouchDB.
The membership service provider (MSP) manages identity and permissioned access for clients and peers.