Things happening around Blockchain Hyperledger in 2020
The blockchain technology in Hyperledger has developed in leaps and bounds. The numerous advancements in the digital world have allowed for the technology to evolve exponentially and the year 2020 looks bright in this respect too. This year blockchain users and users of distributed ledger technology will have their focus shift to the flexibility of deployment, matters of operation, and interconnectivity.
Now, one of the main things that 2020 holds in store is the cleaning up of the market for tokens. Generally, there is great pressure on exchanges to professionalism all the time. As a result, investors find their focus shifting towards quality. So one of the major developments that are touted to take place in 2020 is that the particular tokens commonly termed as “zombie tokens”, which are the tokens for the projects that are not even near to being fit for the market, are going to get delisted in a far more aggressive manner. Now, this is one of the main things happening around the blockchain hyperledger that extensive work is being put in to make sure that the number of tokens brought into the market is brought down drastically and tokens are made in such a way that each one is far more mature than it’s predecessors. So after the required percentage of the whole number of tokens are delisted and/or stopped from being used for trade, from every 2500 existing tokens of the present day, only 1000 tokens will remain at the end of the year 2020.
Blockchain technology in Hyperledger is always maturing and every year sees it’s maturity grow at a more accelerated rate than the previous year. This is no different for 2020 also. Huge work is being put in to bring networks into existence that are even more mature and are far more usable than the previous ones by the creation of decentralized applications. The landscape is becoming even more competitive where the projects have to prove their worth before they can become mainstream. Another important work that is going on regarding Blockchain in Hyperledger is that a better informed and more strategic approach is being put into them. This will make blockchains much more realistic. This will be quite an achievement as this will bring projects much nearer to, if not into production.
There are a few major updates from this year which we would love to share by this blog:
- Hyperledger Fabric 2.0 Launched – 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 chain code (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 chain code, with a new process for installing a chain code on your peers and starting it on a channel. The new Fabric chain code lifecycle allows multiple organizations to come to an agreement on the parameters of a chain code, such as the chain code 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 chain code, creating a more deliberate chain code upgrade process, and simplifying endorsement policy and private data collection updates.
- Hyperledger Announces Eight New Members, including Clear, Conduent and Walmart, at Hyperledger Global Forum 2020
- Hyperledger improved there support system better than ever before.
- Many more updates are about to come in the year 2020.