FPC (Fabric Private Chaincode) is a security feature developed by IBM and Intel. FPC is an extension of the open-source blockchain consortium Hyperledger, designed to enhance the confidentiality of data within a blockchain network.
Chaincode is a program that implements a predefined interface and runs in a secure Docker container. It is written in languages like Go, Node.js, or Java and plays a crucial role in initializing and managing the ledger state through transactions submitted by applications in a blockchain network. FPC is also applied to increase the trust in high-stakes markets, such as auctions for wireless frequencies.
Purpose and function of hyperledger's fabric private chaincodes
Chaincode describes the used business logic agreed upon by network participants and is often referred to as a "Smart Contract." Ledger updates created by a specific chaincode are exclusive to that chaincode, other chaincodes cannot directly access them. FPCs operate in a secure Docker container, which are isolated from the process of the supporting peer.
FPC managed data is encrypted and only authorised participants have access to relevant data. Authorised parties can view transaction details, while other network participants receive a proof of confirmation. This enhances the confidentiality of data even when it is stored on the blockchain.
Other Applications
As telecommunications companies begin deploying the fifth generation (5G) of wireless networks, which is associated with the prospect of significantly faster data transfer speeds. Given the high expectations and demand, securing bandwidth for operating the new technology is crucial. The blockchain-based security feature Fabric Private Chaincode can help build trust in applications with strong privacy requirements. An example is in the auctions of radio frequencies.
