IBM Blockchain to Offer Decentralized Smart Contract Option – CoinDesk

by crypto journalist

“IBM Blockchain Platform will support Hyperledger Fabric 2.0 and continue to add additional capabilities around the new decentralized smart contract lifecycle management and other new improvements,” IBM said in its blog post. “In addition, the platform will allow the user to choose which version of Fabric to deploy and to migrate from one version to another.”

On the existing Hyperledger Fabric 1.0, smart contract governance is largely centralized. The ability to propose new parameters is reserved for one entity, while all other parties face a binary choice of either accepting them as they are or refuse them entirely and take themselves out of the ongoing transaction.

While they can still opt to put one entity in control of the parameters, a document issued by the Linux Foundation – the open-source tech consortium that launched the upgrade – says Hyperledger Fabric 2.0 adds a decentralized model where multiple parties can propose and amend parameters before they become active on the transaction channel.

Since IBM launched its blockchain platform in May 2017, clients – generally businesses like the digital platform we.trade – have been able to pick and choose, buffet-style, the distributed ledger features that go along with their own individual requirements.

This content was originally published here.

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