Vitalik Buterin Proposes the Integration of Ethereum Inside the Hyperledger Project
Ethereum’s creator Vitalik Buterin suggested the use of its invention to power the Hyperledger’s project. Vitalik Buterin was invited to give a presentation this morning to the members of Hyperledger’s committee. Vitalik suggested three different ‘paths’ that leads to the creation of a common standard blockchain protocol to be used by the project’s consortium of companies.
The Hyperledger Project is an initiative and collaborative effort to advance blockchain technology by identifying and addressing important features for a cross-industry open standard for distributed ledgers that can transform the way business transactions are conducted globally. This project is lead by the Linux foundation, and right now more than 40 companies are members of the committee.
Hyperledger has a GitHub page where the codebase of this open source project is being shared. The mission of the foundation is to create an enterprise-grade, open source distributed ledger framework, upon which users can build and run robust applications, platforms, and hardware systems to support business transactions. Right now the project’s codebase is a mix of commits made by IBM, Blockstream, and Digital Asset Holdings.
Vitalik Buterin was invited to give his opinion on the project, and to know how Ethereum could be useful to achieve the foundation goals. In his presentation, Buterin gave the members of Hypersledger’s Technical Steering Committee (a group of leading researchers of distributed systems technologies) a presentation in which he covered the Integration Opportunities. Vitalik Buterin told the members of the committee that three different approaches could be considered to attain the main objectives of the foundation.
The first approach was to keep using the existing codebase and run the platform on Ethereum’s Virtual Machine (EVM). The main benefits of this proposal are that little changes are needed in the current codebase. Vitalik didn’t elaborate too much on the second option he proposed, he simply mentioned that the Hyperledger’s project could integrate Ethereum’s account model and smart contracts into the codebase, along with Ethereum’s Virtual Machine.
Buterin’s last proposal was to build a new account model from the ground, using elements of Ethereum’s Virtual Machine, building an architecture that allows contracts to talk to each other. This could enable complex business transactions that run on a secure blockchain protocol. Vitalik Buterin also said that he would need more information about the project’s ambitions and objectives, this would allow him to work on a possible integration plan.
Hyperledger member will meet again next week in New Jersey, due to the committee’s interest in the Ethereum’s project Vitalik was invited to take part again.
If you liked this article follow us on Twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news.