Cryptocurrency

05/12/18 08:35 UTC-4

Hyperledger Announces New "Cryptocurrency Library"

The Hyperledger Technical Steering Committee approved the Ursa project, a modular cryptocurrency library. The official statement appeared on December 4th.

After the Hyperledger project reached a new level, the developers decided to take on the implementation of a more complex task. Creation of Ursa – modular cryptocurrency library.

The goal of the project is to achieve accelerated work, avoid wasted time, increase security, and also make the project accessible and understandable for all users without exception.

In addition, the project should provide "the ability to provide expert verification of the entire cryptocurrency code" and simplify cross-platform compatibility, since several projects will use the same libraries.

Hyperledger states that with the help of the new library, "blockchain developers will be able to select and modify their cryptocurrency schemes using a simple configuration file". In addition, Ursa will be able to "implement a newer cryptocurrency".

 

Structure of the "Cryptocurrency Library"

The library is divided into two parts. The first one contains simple, standardized, modular crypto-algorithms, and the second one – "exotic and new cryptocurrency". Examples include extended crypto algorithms, such as paired signatures, SNARK, aggregated signatures, and threshold signatures.

Software written in Rust will have "interfaces in all languages ​​that are commonly used in Hyperledger".

Hyperledger expects Ursa to facilitate the development of the entire system, since "for new projects it is easier to enter the market if they have easy access to well-designed modular cryptocurrency platforms."

Hyperledger is becoming increasingly popular for institutional and commercial use. As previously reported by Cointelegraph, Sberbank, the largest Russian bank, recently concluded an over-the-counter foreign currency buyout agreement using smart-contracts on the Hyperledger Fabric platform.

Editor: Yuliya Soroka

See also: "Mike Kayamori about the rise of the cryptocurrency market in 2019"

#Hyperledger #Cryptocurrency library #Ursa #project

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