Enhancing Negotiation Flexibility of Smart Contract in Hyperledger Framework

Blockchain technology has changed the security level of usage potential of soft data in the digital world. Users depend on blockchain and follow business procedures similar to legacy systems. The smart contract applications, built on blockchain technology, are utilized in diverse application areas, including educational domain, service domain, economic data processing, financial services, healthcare, etc. The advantage of a smart contract is that without any trusted third party, a digital negotiation between two or more anonymous parties is built using self-executed blockchain computer code. The technology still has some issues in the context of its flexibility in respect of the negotiation between two participants involved in the smart contract. Hyperledger is one of the most extensive and popular existing blockchain frameworks that support the private blockchain and smart contract. This paper aims to enhance the flexibility of the bargaining process of smart contracts by adding more options in negotiation in the Hyperledger framework for future dealings.