For a chaincode to become ready to commit on a channel in Hyperledger Fabric, it is necessary that the policy "/Channel/Application/LifecycleEndorsement" be satisfied. This policy specifies who needs to approve the chaincode definition before it can be committed to the channel. It ensures that the chaincode deployment is endorsed according to the governance standardsagreed upon by the network participants, typically requiring a majority or other specified fraction of the organizations in the network to endorse the change. This lifecycle endorsement policy is key to maintaining a secure and agreed-upon update process for chaincodes on the channel.
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