The Hyperledger Project is an open source collaborative project between financial institutions and technology companies to advance blockchain technology and create an open standard

Country: USAhyperledger

Year: 2015

Concept:

  • Unveiled in December 2015, the Hyperledger project (HLP) is a collaborative effort started by the Linux Foundation which involves financial services, technology companies and blockchain startups (incl. Digital Asset Holdings, IBM and the R3 consortium among others).
  • The project’s objective is to create an open source, cross-industry, modular distributed ledger framework that supports different components for different blockchain use-cases.
  • Three founding members, Blockstream, Digital Asset Holdings and Ripple have contributed their codebases to help develop open protocols and standards.
  • As of beginning of 2016, HLP had over 80 NDAs in place with financial institutions.

Consumer Benefits:

  • Real time transactions: confirmed in less than a second and able to process thousands of transactions per second due to its consensus algorithm.
  • Collaborative: open source allows continuous contributions from members.
  • Private: ledger ensures sensitive trade data is private, both from the public and other participants of the ledger network.
  • Trustworthy: all validators are known and can fall back on existing legal systems should problems arise.

How To Use: 

Interested users can access the open code on Github through Hyperledger’s site.

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