Hyperledger Fabric 2.0 Launches With New Features; Decentralized Governance And Data Privacy

  • Hyperledger Foundation announced the launch of Hyperledger 2.0 on Thursday.
  • The second version of the open-source blockchain will include new features on governance, scalability improvements, and data privacy on a need to know basis.

In an official launch published by Hyperledger Foundation, users can now access the Hyperledger 2.0, the second version of their enterprise based decentralized ledger, focusing on production.

The open-source blockchain will introduce new data privacy controls on a need to know basis, a new chaincode management cycle that provides decentralized governance for smart contracts. Furthermore, the second version will provide a more scalable platform for efficiency. Rob Palatnick, Governing Board Chair at Hyperledger said,

“The release of Hyperledger Fabric 2.0 is an important step forward in the on-going evolution of DLT, and was developed based on feedback from real-world use, including improved chaincode management capabilities and performance enhancements.”

The Hyperledger Fabric model has been adopted by a number of large companies across the globe since launching in 2015. As of 2019, 30 of the Forbes Blockchain 50 companies, were using the open-source platform or experimenting on it including Amazon Web Services, IBM, Oracle, Tencent, Alibaba, and Google.

“Hyperledger Fabric is an enterprise-grade, distributed ledger platform that offers modularity and versatility for a broad set of industry use cases.”

Traditional financial companies have also adopted the open-source platform with Germany’s Deutsche Boerse testing on Corda and Hyperledger Fabric protocols in November last year.

Hyperledger Fabric 2.0 launches with new features

According to the official announcement, Hyperledger Fabric 2.0 launched with five major improvements from its legacy version. The new protocol will add a number of features including new chaincode lifecycle management and application patterns, data privacy on a need-to-know basis, consensus type of Raft and an external chaincode launcher.

The new governance chaincode lifestyle management will let multiple parties reach a consensus on the chaincode before accessing the chaincode, a new decentralized governance structure. Furthermore, the new data privacy protocols are set to improve how data is channeled in the system increasing privacy.

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Lujan Odera
Lujan Odera
Lujan is a blockchain technology and cryptocurrency author and editor. He has worked in the field of cryptocurrencies and blockchain technology since 2015 helping him gain enough experience to be the writer he is today. He is known for his simple writing style that allows novices to understand the field in the simplest way.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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