Hyperledger Moves Blockchain Frameworks Sawtooth and Iroha Forward, Adds Members

Hyperledger Moves Blockchain Frameworks Sawtooth and Iroha to Active Status

Hyperledger, the open-source, cross-industry collaborative effort focusing on blockchain technology, has advanced the status of its Sawtooth and Iroha blockchain frameworks from “Incubation” to “Active” status.

The green light was given by Hyperledger’s 12-member Technical Steering Committee (TSC), chaired by Christopher Ferris, CTO of Open Technology at IBM. It followed an extensive review period during which each project was evaluated based on exit criteria that include legal compliance, community support, test coverage and continuous integration support, documentation, code reviews and more.

Ray George, senior director of PR at the Linux Foundation, told Bitcoin Magazine that “there is no difference [between Incubation and Active status] when it comes to how the projects are expected to run and how the TSC works with them to ensure a healthy community continues to be built.

“The most tangible difference is how this is presented to the public — not as projects whose communities are still finding their bearings, but as communities ready for new contributors and whose users can depend upon those communities persisting for the long term.”

Hyperledger Iroha, which was initially proposed by Soramitsu, Hitachi, NTT DATA and Colu, is a business blockchain framework inspired by Hyperledger Fabric. It was designed to be simple and easy to incorporate into infrastructural projects requiring distributed ledger technology, and aims to provide a development environment where C++, web and mobile application developers can contribute to the Hyperledger Project.

Hyperledger Sawtooth was initially contributed by Intel and designed to explore scalability, security and privacy questions prompted by the original distributed ledgers.

The modular platform allows organizations to build, deploy and run complex distributed ledgers, and includes a novel consensus algorithm, Proof of Elapsed Time (PoET), which targets large distributed validator populations with minimal resource consumption.

Sawtooth and Iroha follow Hyperledger Fabric, the first project to graduate in March 2017. These projects, alongside five others, all fall under the Hyperledger organization umbrella, which focuses on bringing together software developer communities to develop open-source blockchain and smart contract related technologies.

Projects currently in Incubation include Hyperledger Cello, a blockchain module toolkit; Hyperledger Composer, a set of collaboration tools for building blockchain business networks; and Hyperledger Explorer, a blockchain explorer for viewing, invoking, deploying or querying blocks, transactions and associated data.

Hyperledger’s Membership Expands

The news of Sawtooth and Iroha moving out of Incubation broke on Monday at Consensus 2017, a major blockchain-focused event taking place this week in New York, during which Hyperledger also announced the addition of eight new members, bringing its total membership to 142.

New members joining the Hyperledger Project include Deloitte, Ernst & Young, Schroder Investment Management, AlphaPoint and Change Healthcare, one of America’s largest healthcare IT companies and the first healthcare organization to join at the top membership level.

Change Healthcare’s CTO, Aaron Symanski, will be joining the Hyperledger Governing Board, chaired by Blythe Masters, CEO of Digital Asset, and consisting of representatives from 20 members of the Hyperledger membership.

“Blockchain [technology] is a promising and exciting new technology for secure online transactions,” said Symanski. “But it is crucial that healthcare leaders step up to champion innovation to help take blockchain [technology] from its early implementations to tomorrow’s healthcare IT solutions.”

In October 2016, Hyperledger kicked off a Healthcare Working Group to advance blockchain development in the healthcare industry. The group now has more than 425 technologists and executives representing the likes of Accenture, Gem, Hashed Health and IBM.

Another company that has joined the Hyperledger Project is FZG360 Network Co. Ltd., a leading real-estate portal and trading platform in China, which aims to “enhance the application of [blockchain technology] to a higher maturity level,” particularly in the area of real estate.

Hyperledger was founded in December 2015 by the Linux Foundation and counts among its members leading firms representing various industries including blockchain technology, finance, healthcare, the Internet of Things, aeronautics and real estate, among several others.

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eToro: Bitcoin, Ether Trading Skyrockets; Trader Sentiment Remains Bullish

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Digital currency trading has exploded on eToro, an online trading and investing community. The platform, which currently supports bitcoin and ether trading, has reported significant increase in both the number of users trading digital currencies and the volume of digital currencies traded on the platform.

Over the last 12 months, eToro has seen a 4x growth in traders accessing the digital currency market. Volume of bitcoin and ether traded has skyrocketed 4,500 percent.

Mati Greenspan, senior market analyst at eToro, told Bitcoin Magazine that as digital currencies are becoming increasingly mainstream, the company expects a significant pickup in trading and would consider introducing new digital currencies on eToro, “though nothing is currently set in stone.”

“We are constantly reviewing our offer for traders and responding to demand on the platform,” he said.

For Greenspan, the rapid growth in the adoption and price of digital currencies “only marks the first steps on the long journey to establishing cryptocurrencies as a dominant force in forex trading.”

Bitcoin Price Hits All-Time Highs

Bitcoin price has risen over 18 percent this week. The digital currency is currently trading at an all-time high of $1,800 USD/BTC.

“The Bitcoin landmarks are coming thick and fast now. Crossing the $1,500 mark for the first time is an important moment for the asset. The rise of bitcoin this year has been remarkable,” said Greenspan.

Optimism in the market comes from recent news from Japan that over ten companies are planning to open digital currency exchanges in the country amid surging demand from investors and a favorable regulatory landscape.

“It seems that the tipping point for Bitcoin will come from Japan,” Greenspan said. “The Japanese government is actively trying to devalue the yen in order to discourage people from saving money. On the other hand, they’ve just made bitcoin a legal currency for savings and transactions. If you lived in Japan, what portion of your savings would you choose to invest in bitcoin?

“These kinds of real-world applications and incentives provide the scope for continued rises in the price of bitcoin. Expect more landmark moments to follow.”

In April, Japan passed a new law recognizing bitcoin as a legal method of payment. Bitcoin exchanges are now required to obtain a special license, and must comply with anti-money laundering/know-your-customer requirements. Starting in July, Japan’s consumption tax will no longer apply to purchases of digital currencies.

Optimism was also encouraged by renewed hope that the U.S. Securities and Exchange Commission (SEC) could approve the bitcoin exchange-traded fund (ETF) proposed by Cameron and Tyler Winklevoss.

The SEC is currently reviewing its earlier decision to reject the bitcoin ETF. The proposal involves listing the ETF on the Bats BZX exchange, one of the largest U.S. equities market operator.

Bats filed a notice of petition to review the SEC decision, which was accepted on April 24.

“The recent debate over whether to introduce a bitcoin ETF, for example, is the sort of news that will continue to put previously mysterious cryptocurrencies on the map among traders,” said Greenspan.

Trader sentiments toward both Bitcoin and Ethereum have remained consistently bullish on eToro. Bitcoin has seen 15 consecutive months of over 80 percent of bitcoin traders buying the asset, whilst sentiments toward Ethereum have been even higher with well over 90 percent of ether traders buying the asset since its launch on the eToro platform in March this year.

The price of ether rose 566 percent in the past three months, surging from $15 per ether in March to cross the $100 mark last week.

eToro is a social trading and multi-asset brokerage company with offices in Cyprus, Israel and the U.K. Serving over 4.5 million users, eToro provides a marketplace for people to trade contracts for differences (CFDs) in currencies, stocks, commodities, indices and ETFs.

Its patented CopyTrader technology allows users to copy the trading strategies of the platform’s most successful traders.

eToro launched bitcoin trading in early 2014.

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