Share this article
Monax Adds Blockchain Code to Hyperledger GitHub Repository
The Monax 'Burrow' codebase has officially been accepted by Hyperledger’s Technical Steering Committee for incubation.
Updated Sep 11, 2021, 1:13 p.m. Published Apr 11, 2017, 9:00 a.m.
Make us preferred on Google
The Monax 'Burrow' codebase has officially been accepted by Hyperledger’s Technical Steering Committee for incubation, according to a statement from Monax COO and general counsel Preston Byrne.
Monax is the first Ethereum Virtual Machine-compatible blockchain accepted into the ambitious Hyperledger project, a consortium of companies working together to develop standardized blockchain protocols.
The acceptance brings Connecticut-based Monax's protocol under the Hyperledger umbrella, which already includes blockchain implementations like Fabric by IBM and Sawtooth Lake by Intel. The Burrow code will now be published on Hyperledger’s proprietary GitHub page and open to contribution from a diverse set of developers already involved in the project.
The incubation agreement will further allow Monax access to Hyperledger’s Ethereum Virtual Machine (EVM), the part of the network that complies the bytecode and executes scripts on the decentralized network.
Being accepted for incubation now means that Monax can use the new Apache-licensed version of the EVM, paving the way for the development of more complex smart contracts.
Byrne summarized the plan of action moving forward, stating:
"In the short term, the biggest change will be the ability for members to contribute toward hardening of Burrow's EVM implementation in order to support production-grade ecosystem applications... In the medium term, we will be working with other Hyperledger projects to ensure that Burrow runs well in combination with various blockchain bases such as Sawtooth Lake and Fabric."
The development of the Burrow platform is seen as a way to reduce friction among smart-contract platforms by standardizing language at the protocol level and allowing for greater interoperability among different implementations of the ethereum blockchain.
"We look forward to seeing Burrow help reduce the friction in building sophisticated smart contract based ecosystem applications. We also look forward to the Hyperledger community's expertise being leveraged to harden and improve Burrow's EVM and secure native features," Byrne said.
Monax is also a member of the recently announced Enterprise Ethereum consortium.
Chick and eggs image via Shutterstock
More For You
Venus’ XVS token plunges 9% as exploit leaves protocol with bad debt
The exploit, which occurred on March 16, didn’t appear to impact XVS prices until analysis showed major holders moving large amounts to exchanges.
What to know:
- The Venus protocol was exploited on March 16, resulting in $2.15 million in bad debt and a 9% drop in the value of its governance token XVS.
- The attacker manipulated the THE token market, borrowed assets, and sold THE, causing a 17% price drop and liquidations, with estimated profits of $3.7-5.8 million.
- Venus responded by pausing THE borrows and adjusting collateral values, and is now considering how to cover the loss through its risk fund.
Top Stories
