In its continued expansion of cross-industry projects that are aimed at improving blockchain technologies, Hyperledger has added Microsoft and Ethereum to the list of companies that are in its ranks.
It has been officially confirmed that Microsoft and the Ethereum Foundation have joined Hyperledger. The two giant companies join several other major tech companies and other businesses that are listed on Hyperledger. The aim of the collaborative environment on Hyperledger is to create a viable hub for the open development of blockchain projects for business and industry. The coming together of companies from different fields is designed to ensure that the projects developed on the platform hosted by Linux will create a blockchain based operating systems for various industries.
The introduction of the Ethereum Foundation on Hyperledger is set to boost the development of blockchain solutions on the platform. Ethereum hosts the highest number of DApps on its blockchain with 2,505 DApps present on the Ethereum blockchain. Developers will find the addition of Ethereum to Hyperledger highly beneficial in their quest to find blockchain solutions and launch their own DApps. By joining Hyperledger, the Ethereum Foundation follows the Ethereum Enterprise Alliance which had already joined Hyperledger ’s community.
By joining Hyperledger, the Ethereum Foundation may have piqued the interest of investors who engage in Ethereum trading. Collaborative efforts may increase the performance of the company and influence traders to buy Ethereum. This won’t be surprising as being part of a collaborative community such as Hyperledger is likely to have a positive impact on the Ethereum Foundation as a whole.
Microsoft itself is not a new player in the blockchain industry. The US tech giant is already developing a blockchain based ecosystem that provides Baas (Blockchain as a Service). Microsoft makes use of Azure as its cloud computing service for the project. Joining Hyperledger may see Microsoft develop other similar projects and venture further into the blockchain market.
There are a number of companies, some of which are giants in their own industries, that are on Linux’s Hyperledger. Hyperledger has over 270 members in its community and each of these members is working on developing blockchain based solutions for their respective industries through collaborative efforts. Some of the big companies that are part of the Hyperledger community are IBM, Alibaba, Oracle and Walmart. These companies have already created a significant number of patents based on blockchain technology which shows that there is a high level of interest in developing blockchain based solutions.
The Importance Of Hyperledger
Collaborative efforts are an important tool in the ultimate development of blockchain technology based solutions and by providing a platform that connects companies and individuals from different industries gives a long way in making that possible. Developers are able to connect and collaborate with each other, companies, academia and non-profit organizations on Hyperledger. This ease in connecting for interested stakeholders will be beneficial for blockchain technology overall as projects and solutions are easier to develop as a result of the collaboration.
Hyperledger is open source which allows the free flow of ideas on the platform. Developers are able to receive and give ideas which foster an environment in which developers can learn in. It also gives a sense of community which is important in the grand scheme of blockchain development. Resources of tech giants such and IBM and Microsoft are also available to developers which collaborate with such companies and the value of access to these resources cannot be stressed enough.