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Hyperledger Announces Hyperledger Fabric 2.0

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Hyperledger, an open source collaborative effort created to advance cross-industry blockchain technologies, today announced the general availability of Hyperledger Fabric 2.0. This major release of Hyperledger Fabric, a distributed ledger framework that’s been under development by the Hyperledger community since 2016, delivers a number of features and enhancements needed to increase the efficiency and security of production deployments.

Much of the work on Hyperledger Fabric 2.0 focused on new ways to manage the chaincode (or smart contract) lifecycle to maximize flexibility, remove bottlenecks and create more options to distribute governance. Security and data privacy were also big development priorities, so many features and enhancements are geared towards delivering more granular control of private channels and minimizing vulnerabilities.

Key Hyperledger Fabric 2.0 features include:

Decentralized governance for smart contracts — Hyperledger Fabric 2.0 introduces decentralized governance for chaincode, with a new process for installing a chaincode on your peers and starting it on a channel. The new Fabric chaincode lifecycle allows multiple organizations to come to agreement on the parameters of a chaincode, such as the chaincode endorsement policy, before it can be used to interact with the ledger. The new model offers several improvements over the previous lifecycle, including requiring multiple organizations to agree to the parameters of a chaincode, creating a more deliberate chaincode upgrade process and simplifying endorsement policy and private data collection updates

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New chaincode application patterns for collaboration and consensus — The same decentralized methods of coming to agreement that underpin the new chaincode lifecycle management can also be used in your own chaincode applications to ensure organizations consent to data transactions before they are committed to the ledger. Organizations can add automated checks to chaincode functions to validate additional information before endorsing a transaction proposal. Additionally, human decisions can be modeled into a chaincode process that spans multiple transactions. The chaincode may require actors from various organizations to indicate their terms and conditions of agreement in a ledger transaction. Then, a final chaincode proposal can verify that the conditions from all the individual transactors are met, and “settle” the business transaction with finality across all channel members.

External chaincode launcher —The external chaincode launcher feature empowers operators to build and launch chaincode with the technology of their choice. Use of external builders and launchers is not required as the default behavior builds and runs chaincode in the same manner as prior releases using the Docker API.

Private data enhancements — Hyperledger Fabric 2.0 enables new patterns for working with and sharing private data, without the requirement of creating private data collections for all combinations of channel members that may want to transact. Specifically, instead of sharing private data within a collection of multiple members, you may want to share private data across collections at a transaction or state key level with selected channel members. Each private data collection may contain a single organization, or perhaps a single organization along with a regulator or auditor.

State database cache for improved performance on CouchDB — When using external CouchDB state database, read delays during endorsement and validation phases have historically been a performance bottleneck. With Hyperledger Fabric 2.0, a new peer cache replaces many of these expensive lookups with fast local cache reads.

Alpine-based docker images — Starting with 2.0, Hyperledger Fabric Docker images will use Alpine Linux, a security-oriented, lightweight Linux distribution. This means that Docker images are now much smaller, providing faster download and startup times, as well as taking up less disk space on host systems. Alpine Linux is designed from the ground up with security in mind, and the minimalist nature of the Alpine distribution greatly reduces the risk of security vulnerabilities.

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For more on the features and enhancements, see What’s new in Hyperledger Fabric 2.0.

“Hyperledger Fabric has established itself as a popular and practical distributed ledger framework and has powered much of the transition from conceptualization to commercialization we’ve seen in enterprise blockchain,” said Brian Behlendorf, Executive Director, Hyperledger. “Fabric 2.0 is a new generation framework developed by and for the enterprises that are building distributed ledger capabilities into the core of their businesses. This new release reflects both the development and deployment experience of the Fabric community and confirms the arrival of the production era for enterprise blockchain.”

Hyperledger Fabric is already widely deployed in PoCs and production networks of all sizes and scales. To ensure smooth transition to this new version, there is a range of documentation specifically for Upgrading to the latest release. There’s also documentation on Upgrading your components and Updating the capability level of a channel, as well as a specific look at the Considerations for getting to Fabric 2.0.

Community quotes:

“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,” stated Rob Palatnick, Managing Director and Global Head of Technology Research and Innovation at The Depository Trust & Clearing Corporation (DTCC) and Governing Board Chair at Hyperledger. “DTCC’s work with Hyperledger enables us to bring DLT expertise and knowledge in-house while contributing our learnings and progress on enterprise-scale projects with the DLT community. We look forward to our continued efforts around Fabric 2.0 and in working with Hyperledger.

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“I am delighted to see Hyperledger Fabric v2.0 released,” said Nao Nishijima, Researcher, Hitachi, Ltd. “Hitachi has contributed to the social innovation through the development of superior, original technology and products since its foundation in 1910.  Hitachi believes that Hyperledger Fabric v2.0 and related blockchain technologies will further expand the possibility to merge sustainability and business and to resolve social issues through the contribution to the initiatives like Society 5.0 and Sustainable Development Goals (SDGs). Hitachi continues to contribute to the Hyperledger community and to provide blockchain solutions for various industries.”

“IBM is excited about this key milestone in Hyperledger Fabric’s development lifecycle,” said Jerry Cuomo, IBM Fellow and VP of Blockchain Platform, IBM. “We are proud to have been part of the community that has collaborated on its development, and we are eager to upgrade the IBM Blockchain Platform — industry’s first multi-cloud implementation of Hyperledger Fabric — to leverage the new capabilities and improved performance in this milestone release.”

“IntellectEU is grateful to have been a part of the Hyperledger community since the very beginning,” said Thomas Bohner, VP of Blockchain at IntellectEU. “The release of Hyperledger Fabric 1.0 was a breakthrough for enterprise blockchain. Today we are excited about the Hyperledger Fabric 2.0 release. More specifically the private data enhancements that will drive adoption for our clients in the financial services industry. Our engineering team will be applying decentralised governance for chaincode when helping our clients migrating to Fabric 2.0.”

“Oracle is excited about Fabric 2.0 GA release,” said Mark Rakhmilevich, Senior Director, Blockchain Production Management at Oracle. “Hyperledger Fabric underpins Oracle Blockchain Platform, which is used by numerous customers in production, and a number approaching production deployments.  The new capabilities in this release will directly benefit these customers who are looking for greater data privacy capabilities, increased performance, and decentralized consensus mechanism.  I also think the new decentralized governance model for chaincode updates and organization-specific extensions will enable broader flexibility and help with the chaincode update process in consortia environments. These practical improvements will help to accelerate adoption of Fabric across our enterprise customers and government organizations. Oracle is very committed to Hyperledger Fabric and we’d like to congratulate the Fabric community on this important milestone.”

“We’re excited to stand alongside our friends as they launch Hyperledger Fabric 2.0,” said Troy Ronda, Chief Scientist for SecureKey Technologies Inc. “This release demonstrates a mature project with enhanced performance and deployment features that will allow for innovative identity projects to come to fruition, like our Verified.Me service. Hyperledger’s projects – such as Fabric and Aries – provide important open source components for building ecosystem services like Verified.Me, and we’re happy to contribute to such an excellent and dedicated community.”

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Additional Resources:

 

SOURCE Hyperledger

Blockchain

LCT Secures VARA In-Principle Approval, Defining Its Role in Dubai’s Crypto Landscape

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Bybit One-Click Buy Offers a Winning Chance in First-Time Deposits Lucky Draws

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Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)

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Blockchain technology continues to drive innovation across industries, reshaping finance, infrastructure, and philanthropy. Today’s news roundup explores exciting developments in blockchain ETFs, tokenization funding, quantum-resistant chips, public blockchain initiatives, and impactful social projects. Here’s a deep dive into the latest blockchain headlines:

BlackRock ETF Embraces Blockchain with First Muni Bond Purchase

BlackRock’s blockchain-focused ETF has made its first foray into municipal bonds, signaling increased confidence in integrating blockchain technology with traditional finance. The ETF’s strategic investment demonstrates how blockchain can enhance transparency and efficiency in bond markets.

By tokenizing municipal bonds, BlackRock aims to simplify trading and settlement processes while reducing associated costs. This development underscores the growing role of blockchain in transforming financial instruments and fostering greater market accessibility.

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Source: Yahoo Finance

Plume Secures Funding for Tokenization Platform

Blockchain fintech company Plume has raised significant funding to advance its tokenization platform. The company’s innovative approach enables businesses to convert real-world assets into digital tokens, streamlining asset management and unlocking liquidity.

Tokenization is rapidly gaining traction as a game-changer in sectors such as real estate, art, and commodities. Plume’s success reflects a broader trend of investment in blockchain solutions that bridge the gap between traditional assets and decentralized technologies.

Source: Fortune

SEALSQ and Hedera Partner for Quantum-Resistant Blockchain Chips

SEALSQ and Hedera have announced a groundbreaking collaboration to develop quantum-resistant chips designed to secure blockchain infrastructure. These advanced chips will provide robust protection against future quantum computing threats, ensuring the integrity of blockchain networks.

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As quantum computing capabilities evolve, safeguarding blockchain ecosystems becomes increasingly critical. This partnership highlights the importance of proactive measures in maintaining the resilience and trustworthiness of decentralized systems.

Source: The Quantum Insider

Deutsche Bank’s Public, Permissioned Blockchain Initiative

Deutsche Bank’s Layer 2 blockchain solution is set to go public and operate as a permissioned network, according to its tech partner. This initiative aims to strike a balance between accessibility and security, leveraging blockchain to streamline financial services and enhance operational efficiency.

The decision to adopt a public, permissioned model reflects a growing trend among enterprises seeking to harness the benefits of decentralization while maintaining control over sensitive data. Deutsche Bank’s approach could serve as a blueprint for other financial institutions exploring blockchain adoption.

Source: CoinDesk

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KuCoin’s “Light Up Africa” Initiative Brings Hope to Thousands

Cryptocurrency exchange KuCoin has made a significant impact through its “Light Up Africa” donation ceremony in Ghana, benefiting 36,000 children across the continent. The initiative combines blockchain technology with philanthropy to address energy poverty and support education.

By leveraging blockchain for transparency in charitable contributions, KuCoin sets an example of how the crypto industry can drive meaningful social change. The project demonstrates the potential of blockchain to empower communities and foster sustainable development.

Source: PR Newswire

Industry Implications and Key Takeaways

Today’s developments highlight the transformative potential of blockchain across multiple domains:

  1. Integration with Traditional Finance: BlackRock’s ETF underscores the synergy between blockchain and established financial systems.
  2. Tokenization Trends: Plume’s funding success reflects the growing demand for digital asset solutions.
  3. Quantum-Resistant Technologies: SEALSQ and Hedera’s partnership addresses emerging cybersecurity challenges.
  4. Enterprise Blockchain Adoption: Deutsche Bank’s public, permissioned network showcases the adaptability of blockchain in financial services.
  5. Social Impact: KuCoin’s philanthropic efforts illustrate blockchain’s capacity to drive positive societal outcomes.

The post Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin) appeared first on News, Events, Advertising Options.

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