Hyperledger has onboarded twelve new members, together with such major companies as Alibaba Cloud, Citi, and Deutsche Telekom, as per an announcement revealed on Dec. 11.

Launched in 2016, Hyperledger is an open source project created by the Linux Foundation and created to support the event of blockchain-based distributed ledgers.

The new members were declared at the Hyperledger global Forum in Basel, Switzerland. the most recent general members that joined the initiative embody Alibaba Cloud, a subsidiary of the e-commerce giant; monetary services firm Citigroup, Deutsche Telekom, one among the biggest telecoms suppliers in Europe; and European blockchain trading platform we.trade, among others.

Hyperledger administrator Brian Behlendorf said that “the growing Hyperledger community reflects the increasing importance of open supply efforts to make enterprise blockchain technologies across industries and markets.” Head of Innovation Network and emerging Technology , Beth Devin, at Citi Ventures said:

“We believe blockchain has the potential to drive new kinds of potency and develop new markets, and are happy to affix the Hyperledger project to advance our exploration.”

This month, the Hyperledger Technical commission approved the Ursa project, a modular cryptography software library. Ursa is supposed to avoid wasted work on duplicate ventures, enhancing security by simplifying analysis and making it “less probably for fewer experienced individuals to form their own less secure implementations.”

In October, the central bank of Germany, Deutsche Bundesbank, and securities marketplace organizer Deutsche Boerse (DB) with success completed the trial of a blockchain answer within the settlements space. The dealings volume and speed of a production system were tested on the Hyperledger material framework and Digital plus, a distributed ledger (DLT) answer for the monetary sector.

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