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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Author: Lujan Odera

Binance CEO: New Open-Source Wallet Solution Will “Reshape the Landscape” of Custodial Services

  • The open-source coding is available through GitHub with more elaborate information available on the Binance Library.
  • Changpeng Zhao claims that the TSS technology is “far superior” to the present multi-signature security that most other custodians offer.

Changpeng Zhao, the CEO of Binance, is known for making big strides in the cryptocurrency industry, and he seems to have a lot of faith in their new solution available to wallet providers and custodians. In fact, CZ states that the open-sourced option is “far superior” to the multi-sig security presently offered by many custodians, and he believes that its introduction will reshape the entire industry.

The Threshold Signature Scheme (TSS) library for Elliptic Curve Digital Signature Algorithm (ECDSA), which was just released today, is openly-sourced. Basically, this cryptographic protocol is used for distributed key generation and signing, providing a way to avoid single points of failure in private keys for wallet providers and custodians.

The exchange explained the process a little more clearly, stating, “TSS allows users to define a flexible threshold policy. TSS technology allows us to replace all signing commands with distributed computations so that the private key is no longer a single point of failure. For example, each of three users could receive a share of the private signing key, and in order to sign a transaction, at least two of the three users will need to join to construct the signature.”

To use less resources and reduce the possible attack opportunities, TSS is used off-chain. Multi-signature protection is the opposite. With the threshold signatures, Binance states that a user’s assets won’t be at risk, even with a compromised device. The protocol helps with access control policies for business operators, protecting their corporate funds from being stolen by either insiders or outsiders. The Binance Academy has more information about TSS technology, and the open-source code can be found at GitHub.

To ensure that the coding is secure, Binance procured Kudelski Security for a third-party audit.  The cybersecurity solutions provider discovered “none of the issues found in the frame of this audit could be exploited” to “completely break the security of the scheme or recover secret data.”

Earlier this year, Kudelski partnered with Hosho, a smart contract auditing firm, allowing the two companies to combine their own skill sets to meet the needs of the blockchain industry.

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Author: Krystle M

Consensys and Coinbase-Backed Exec To Create GitHub-Like Platform For Web3

Most developers still use GitHub to share their open-source code. However, some people think that this kind of solution is not ideal when we have an emerging crypto world being born. Because of this, Harrison Hines, the CEO of Terminal, has decided to make his own crypto-version of GitHub.

Terminal, which received $3.7 million USD in investments last year from companies such as Coinbase Ventures and passed by the ConsenSys accelerator program, is ready to launch its own developer hub for decentralized projects.

The idea was to create something similar to GitHub but to make it easier for Web3 developers to deploy smart contracts there. As many projects need to use smart contracts, Terminal will allow them to use them on the platform without having to find another more complicated way first.

Vamsi Alluri, a MakerDAO engineer, was bullish on this idea. According to him, a large ecosystem that constantly needs to use smart contracts would benefit from a platform that was designed specifically for their needs.

Web3 platforms are not really hosted or controlled by a single party, so they really need some specific things in order to work properly. The whole process of using them and programming for them changes.

Terminal is set to offer smart contracts, node services, and direct conduits to external programs; all for free. According to the Terminal executives, it would be considerably cheaper to simply use their already existing infrastructure instead of having to pay to use nodes.

How will the project be maintained? It will use a “freemium” system. People can access all the basic features for free, but if they really like the platform and want to upgrade, they will have to pay.

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Author: Gabriel Machado

New Open-Source Code Vulnerability Was Found and Fixed In Facebook’s Libra

A recently discovered vulnerability on the open-source protocol of Facebook’s Libra was just fixed. The vulnerability was originally discovered by OpenZeppelin, a third-party audit company that is focused on crypto products.

The developers of the company have found some vulnerabilities in the scripting language created by Facebook, which is called Move. According to the company, the vulnerabilities were pretty severe and could lead to huge problems if the code went online before they were addressed.

OpenZeppelin’s CEO Demian Brener affirmed that one of the vulnerabilities allowed hackers to use smart contracts disguised as inline comments and they could use it to steal money. Fortunately, the issues have been patched as soon as possible, so these flaws will never actually see the light of day.

The auditor company was originally created back in 2015 and it has worked with several high-profile initiatives so far, including organizations such as the Ethereum Foundation, Coinbase, and the Brave browser.

The Move script was mostly devised by the developers of Calibra, the company created by Facebook to handle the project. They have defined the most important features of the technology, but since the code is open, anyone can give their opinions on what works or not.

According to Brener, audits are becoming more important to the industry each day. Crypto projects are getting considerably bigger as time passes, so more third-party audits are needed for them to work well, as no team can completely audit them alone.

Libra has a very complex system, just like many other recent tokens. These products will be used to manage a lot of money, so making sure that they work well is needed.

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Author: Gabriel Machado

Brave Blockchain Browser Crypto Wallets Will Support Ethereum And ERC20 Tokens

The open-source browser Brave has decided to upgrade its crypto wallet in its latest update. Initially, the wallet was created to be focused on the Basic Attention Tokens (BAT), which are used in the browser.

However, now it was announced by Alex Wykoff, a researcher of the platform, that a new feature would be introduced: Ethereum and several ERC20-based tokens would start to be accepted at the platform.

According to him, the wallet of Brave is a standalone product that you can use even if you do not use the Brave browsing program. It was also highlighted that it is focused at people who already know a bit about the crypto world and are at least somewhat familiar with cryptocurrencies.

It was also informed that a system for people to transfers their assets between the crypto wallet and Brave Rewards will be created soon and that they will finally be able to directly transport their tokens to their wallets using it.

In a possibly controversial move, Brave will require a Know Your Customer (KYC) procedure for the users trying to move their assets out. According to the company, Brave has no interest in knowing who its users are, but it still has to comply with current laws of the financial sector.

Brave, in case you are not familiar with the platform, is a browser that you can use to browse the web without ads. Any advertising that you see will be because you choose to do it and you get paid BAT tokens for watching it.

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Author: Hank Klinger

Wasabi Wallet’s Implementation of Chaumian CoinJoin Deemed to Lack Privacy: Samourai Wallet

Wasabi Wallet’s Implementation of Chaumian CoinJoin Deemed to Lack Privacy: Samourai Wallet

Wasabi was first launched as “an open-source, non-custodial, privacy-focused,” Bitcoin wallet for desktop uses.

It implements, a trustless method for combining Bitcoin payments from multiple spenders, typically referred to as coin shuffling – a service offered by CoinJoin.

At the time of launch, the Samourai team behind Wasabi deemed this implementation as increasing one’s privacy as the number of participants go up. However, a recent update from the Wasabi team seems to be concerned by CoinJoin’s lack of privacy reports Coin Telegraph. The company was referenced saying the following:

“With Wasabi, if you are mixing 10 BTC [Bitcoin], I can trivially track that 10 BTC as it is peeled down into smaller UTXOS (unspent funds) […] Additionally, Wasabi outputs are in the order in which they are registered, allowing you to make educated guesses that cluster outputs that you can later cross reference when inputs are inevitably merged to make a spend.”

As per a Wasabi’s executive, who goes by ‘SW’, in “Wasabi’s implementation of ZeroLink there is routinely 30 to 60% of inputs issued from the same, previous transaction,” and this is what causes a reduction in anonymity.

The anonymity feature supposedly gets lost, as traders remain in the entirety of the mixing (of transactions) process. It was further noted that:

“When viewed holistically and crucially with lack of PostMix spending strategy these architectural differences have serious consequences when common user behavior intervenes.”

SW believes that more emphasis needs to be placed on coin control techniques to ensure that anonymity is not compromised in any way.

[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.

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Author: Nirmala Velupillai