Hyperledger Exec Emphasizes Importance of Open-source in Blockchain Adoption
Summary:
Executive Director of Hyperledger, Daniela Barbosa, highlighted the importance of open-source blockchain technology for institutions worldwide during Paris Blockchain Week. The open-source tools, development and vibrant community of diverse contributors are crucial for companies tapping into Hyperledger technology. Barbosa emphasized the need for open governance and development in the longevity of the financial services sector, especially considering potential regulatory probes. She further discussed the key role of Hyperledger Besu, an open-source Java Ethereum execution client, in the evolution of Hyperledger's blockchain tools.
Open-source tools and governance systems continue to be vital for governments, corporations, and financial entities looking to employ blockchain technology. During Paris Blockchain Week, Hyperledger executive director Daniela Barbosa revealed in a Cointelegraph interview about the indispensability of open-source blockchain technology for international institutions. According to Barbosa, who is also the general manager of the Linux Foundation, fundamental financial infrastructure shifts to blockchain protocols rely primarily on the foundation network's openness and open governance. For instance, Hyperledger Besu, an open-source blockchain infrastructure, operates on Ethereum but facilitates both public and private sanctioned use cases.
Barbosa spoke about global organizations choosing Hyperledger family technologies because they appreciate its backing by the Linux Foundation, major corporations, governments, and other organizations. It's not just the open-source nature of the tools, but also the open development process and the existence of a vibrant community of diverse code contributors and maintainers that matters. She further emphasized that no organization would want to build new frameworks on code owned by a single company, which has the power to deviate from open source and impose licensing fees.
The Linux Foundation is keen on fostering open governance and developing tools under its banner. Barbosa highlighted how integral open-source infrastructures have become, using the Linux Kernel's application on diverse computing systems as an example. The Linux Foundation has been building open-source communities and critical code for over 25 years. Cloud computing essentially operates on Linux Kernel and Kubernetes.
According to Barbosa, some organizations have made strides in open-sourcing their software and code, but their visibility on GitHub isn't sufficient to deem the tools as openly developed and governed. She emphasized the role of the foundation in enabling open governance and development, permitting companies in competition to collaborate on common community goals.
This concept is seen as crucial for the long-term, particularly for the financial service industry, with likely investigations by regulators into code ownership and changes. Barbosa also delved into the evolution of Hyperledger’s blockchain tooling, with Hyperledger Besu being a key offering. It is an open-source Java Ethereum execution client, providing both public and private features while running all Ethereum smart contracts.
Hyperledger Besu is among the top three Ethereum execution clients in terms of user numbers. Barbosa mentioned that businesses were increasingly interested in the Ethereum ecosystem back in 2019 when Consensys contributed during a collaboration between the Hyperledger Foundation and Ethereum Enterprise Alliance. She noted the 12% installation rate among Ethereum mainnet users using Hyperledger Besu as an execution client, showcasing its use in well-known platforms like Consensys Linea and Hedera Hashgraph.
Published At
4/19/2024 12:51:56 PM
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