Hyperledger has released version two of Hyperledger Fabric, one of the most popular enterprise blockchains. Some of the new features of the open source technology include giving consortium members greater control over code and transaction approvals, more granular control of privacy, and several performance optimizations.
When it comes to distributed ledger technology (DLT), most people are familiar with smart contracts that run the application code on a blockchain. In Hyperledger Fabric, to add smart contracts to a blockchain, they are packaged into “chaincode”. One of the features of consortia blockchains is that changes to a smart contract could impact your business. Hence corporates like to control how changes to blockchain code are made and the upgrade process.
In previous iterations, Hyperledger Fabric would let one company add or amend a smart contract, and the only control for other organizations was to refuse to install the chaincode, and hence not participate in transactions that used the smart contracts.
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Image Copyright: Hyperledger
