IBM and Intel create an open-source project Fabric Private Chaincode that enables a new model of smart contracts to attain the Intel Software Guard Extention (Intel SGX) advantages and further aid privacy and integrity in The Linux Foundation’s Hyperledger Fabric blockchains.
The new model of smart contracts is appropriate for applications where it is profitable to utilize the main properties of blockchain technology like decentralization, transparency, and security. This is exactly how it is supposed to work. During the process, the data is meant to be private, even from the parties participating in the blockchain network.
The Fabric Private Chaincode project is an excellent instance of how IntelSGX can enhance the use case of blockchain by incorporating new models built with a new level of reliability. The existing Hyper Ledger ensures smart contract integrity with the help of numerous peers to execute similar chain codes and verify their results. This works better for use cases.
It is not just the Confidentiality that is sufficient to ensure if the participants can trust the smart contracts, meanwhile, it also requires integrity to allow participants to be confident about their choice of using smart contracts.
IBM believes that the adoption of Trusted Execution Environment technology for the probability of high risks in use cases today will help to cover the way for more general adoption in many other use cases in the future.