After two years of intensive work and an investment of more than 100 million US dollars, the R3 chief developer Richard Gendal Brown was able to announce the release of Corda v1.0. More than half of the 100 companies involved in the project have extensively researched Corda over the last few years and further developed the project.
Corda was first presented in 2016 as a solution for the global transaction market of international companies. Over time, however, the project has also developed into a useful tool for the conclusion of contracts between companies. With the release of version 1.0, R3 members, partners and open source developers are now able to test and develop their own applications in the Coda environment for the first time without being affected by future version updates.
Brown said in an interview with CoinDesk:
"It is now much easier to update Corda. This gives developers more security, and they can be confident that their applications continue to function properly after an update."
Brown also said that R3 now provides three core APIs that are compatible with older versions of Corda. This feature is especially useful for the development of decentralized apps.
Even if the core platform remains unchanged, the developers of the R3-Blockchain consortium will continue to experiment and develop the code further.
"It is an important milestone in the direction of a rapidly growing community of developers who want to publish their applications using Corda," said Brown.
The user decides which information is visible
On the Corda platform, companies can decide which information they want to share with other users, unlike most blockchain projects. This feature attracts many banks, regulators and tech companies.
Just recently, a major UK financial regulator - a banking group consisting of 11 banks including BNP Paribas, HSBC, ING and Mizuho - and tech giant Hewlett Packard have begun to develop their applications on the Corda platform.
