Hyperledger collaborates with IOHK to advance cross-industry blockchain technologies

Recently, IOHK has announced to become a part of the Hyperledger consortium. Hyperledger is an open-source blockchain for businesses with more than 250 companies working in cooperation with it.

Benefits for this collaboration:

There would be numerous benefits for IOHK to be part of Hyperledger such as providing visibility and sharing components of its interactive structure.

It would also enable it to interact with the other companies in this blockchain community which would, in turn, help it to improvise its products and enhance the functionality.

The biggest advantage in joining an organization like Hyperledger lies in the fact that since it is based on the idea of open-source software and decentralized networks, it would never license any of its technological progress as told by Romain Pellerin, the Chief Technical Officer at IOHK;

IOHK firmly believes that a community’s overall success largely depends on its ability to collaborate. It’s great to be involved in an organization that shares that philosophy and is working towards utilizing blockchain to create a better industry, and more open, accessible world.

Cardano’s supremacy:

Cardano, which is IOHK’s third-generation blockchain is not only secure and expandable but also has the potential to interact with other transaction systems.

Moreover, it is also the first to be established upon scientifically proven security protocols, and is 100 times more locally distributed between networks and 4 million times more power-efficient than bitcoin. These all are some mandatory protocol that needs to be implied by a system if it targets to replace the traditional global-scale systems.

Mr. Pellerin further exclaims;

The Hyperledger community has an exceptional wealth of shared knowledge and expertise and we look forward to developing strong relationships with other members of the consortium in order to share our original research, build synergies with other blockchain providers and develop new industrial and business collaborations.

The executive director at Hyperledger, Brian Behlendorf further elaborates;

Our goal at Hyperledger is to bring together a strong and diverse community to advance cross-industry blockchain technologies “IOHK has deep domain expertise and a strong vision for decentralized networks that makes it a great addition to our community.

Tags

Jessica Bay

Jessica is a full-time writer and has been a Bitcoin Specialist for over 6 years. Providing daily cryptocurrency news and updates for NewsBitcoin24/7.com

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button