R3 upgraded to Corda, the enterprise-class distributed ledger technology (DLT) network. The team claims that the next generation of Corda provides users with increased scalability, interoperability, privacy and security for users.
R3 completes Corda update
R3An enterprise-class provider of distributed ledger technology (DLT) solutions, has announced the public beta of its Corda upgrade. Corda is a DLT infrastructure that enables organizations to leverage blockchain technology for secure exchange of value.
According to a press release from the company, the latest update to Corda enables high availability, scalability, and secure interoperability with other enterprise-grade DLT platforms.
The next generation of Corda is designed to enable applications of infrastructure providers for global financial markets and central banks to interoperate seamlessly and securely with other enterprise DLT networks.
Corda to open a reliable and durable digital economy
Although enterprise adoption of digital databases (DLT) has seen a slight uptick in recent years, interoperability remains a pain point in the industry, as most blockchains are still unable to interact with peers in terms of the frictionless exchange of value and data. .
(embed) https://www.youtube.com/watch?v=8I99WORewD8 (/embed)
Commenting on Corda’s latest update, Todd McDonald, R3 co-founder and chief strategy officer, stated that the company remains committed to supporting an “open, trusted, and enduring digital economy” and that the next generation of Corda is the first step towards achieving this mission.
“We believe this digital economy will be built on an interconnected ecosystem of multiple DLT platforms, where applications will transact seamlessly and securely across networks — not the isolated or walled gardens of ‘public’ or private networks.”
Todd McDonald, R3 Co-Founder and Chief Strategy Officer
R3 has also signed a partnership agreement with Adhara, an intraday liquidity and payments solutions provider, to launch a Hyperledger Foundation Lab called Harmonia. The team says Harmonia will accelerate the development of interoperability solutions for regulated financial institutions.
In related news, last month leading Web 3 companies and venture capital firms including Borderless Capital, Polygon Ventures, Algorand Foundation, and others, joined forces to launch a $50 million fund dedicated to promoting cross-chain interoperability.