Friday, December 2, 2022

CasperLabs Joins the Hyperledger Foundation

By ET Bureau - September 13, 2022 3 Mins Read

CasperLabs, a leading blockchain software company for the enterprise market, today announced its membership in the Hyperledger Foundation, the open, global ecosystem for enterprise blockchain technologies. CasperLabs is committed to de-risking adoption of the Casper Blockchain technology within enterprises by offering flexibility. The company believes Interoperability between blockchains is key for greater adoption of the technology and is contributing to the open source community to grow reach and impact.

“Joining the Hyperledger Foundation will result in hybrid applications that will advance both the Casper and Hyperledger communities,” said Mrinal Manohar, co-founder & CEO, CasperLabs. “The Casper community will be able to generate quality open source resources that can benefit both projects, while the Hyperledger community will be introduced to the innovative features of the Casper public blockchain, so that new applications leveraging hybrid solutions can be developed.”

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“Interoperability is a critical requirement for widespread deployment of blockchain-based solutions,” said Daniela Barbosa, Executive Director, Hyperledger Foundation, and General Manager Blockchain, Healthcare and Identity at the Linux Foundation. “The Hyperledger community has been developing multiple DLT platforms as well as tools to enable a multichain ecosystem for years. As a member of Hyperledger Foundation, CasperLabs will help accelerate that work by contributing valuable expertise and resources focused on unlocking new hybrid blockchain applications.”

CasperLabs has recently partnered with IBM to show firsthand the potential of a hybrid blockchain. The two companies demonstrated the first atomic cross-chain swap of fungible and non-fungible tokens between an instance of a Hyperledger Fabric permissioned network and the Casper Blockchain using Hyperledger project weaver. This resulted in the enhanced security of a consortium network running Hyperledger Fabric with the public verifiability and open market access enabled by Casper public blockchain capabilities.

“Hyperledger Fabric is a permissioned platform and can benefit through interoperability with the cutting-edge Casper permissionless network,” said Medha Parlikar, co-founder & CTO, CasperLabs. “Casper can leverage the familiarity that enterprises have with Hyperledger technology for de-risking their transition to permissionless networks and bring assets locked on the private ledger to the public chain. We’re proud to join Hyperledger Foundation to develop real-use cases for hybrid blockchains that will benefit enterprises now and into the future.”

“Monetizing enterprise digital assets is the key to scaling enterprise blockchain adoption. Interoperability between permissioned and public chains can lead to great ecosystem reach and better access to liquidity while preserving the privacy and control over their enterprise assets,” said Shyam Nagarajan, Executive Partner, Web 3.0 and Sustainability at IBM. “IBM is committed to building hybrid networks leveraging the strengths of permissioned and public chains to help enterprises launch new business models.”

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