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IBM declares call to arms to build blockchain ecosystem with Hyperledger Fabric V1

By Tamlin Magee | Dec. 12, 2016
Now businesses can collaborate on public or private chains due to a change in the language of Hyperledger itself, explained IBM at a small roundtable event in London.

There are membership services - the people in the chain that verify the other participant is part of the business network - and then 'committers', which say that they have received information from the blockchain and put that order onto the ledger. Finally, 'consenting' machines agree on the order of that blockchain ledger.

"So you've still got a useful ledger, it still has the provenance, it still has quality, but it now means that you and I can share a private chain or a public chain," Smith said. "We can have one piece of a smart contract between us, which I initiated on my node with a membership service. It will go into the consenter network, to say order this, put it in the right order of transactions, and then it will appear on your node, in your ledger."

IBM's hopes for a blockchain ecosystem, the company says, will be an open environment where businesses can collaborate "on shared or complementary technical and business visions using the Hyperledger Fabric, and access education and development support." According to IBM, Hyperledger Fabric V1 will "provide a modular approach, much like the network-of-networks model of the internet".

 

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