In an announcement yesterday, the Hyperledger’s Technical Steering Committee (TSC) unveiled a new project called Ursa, designed to be a cryptographic modular intended to help project developers within the Hyperledger blockchain community build resourceful applications seamlessly.
Ursa is being touted as a shared “flexible cryptographic library”, allowing developers to tap from a resource pool of development toolkits “so blockchain developers can choose and modify their cryptographic schemes with a simple configuration file change”. This would invariably save time and cost in building individual projects.
The TSC revealed that the library has two distinct modules: the first being “a library for modular, flexible, and standardized basic cryptographic algorithms” and a second library for more exotic cryptography, including so-called “smart” signatures and zero knowledge primitives called zmix.
In the announcement, TSC identified Ursa’s security experts as developers who currently handle Hyperledger Indy, Sawtooth, and Fabric. Other community members include academic cryptographers.
Hyperledger expects the library to simplify the processes of developing projects with the objective of avoiding duplicates, cutting down development costs, improving security, and creating a platform for expert reviews. Further, the ease to use model lowers the entry barrier for inexperienced developers.
On a broader event scale, Hyperledger has been used for both institutional and commercial purposes. Sberbank recently conducted an over-the-counter (OTC) foreign exchange by deploying smart contracts on the Hyperledger platform. More so, last month, retail company Carrefour deployed organic poultry tracking system on the Hyperledger DLT.
Germany’s central bank, Deutsche Bundesbank, in collaboration with Deutsche Börse, also successfully completed two blockchain trials developed on the Hyperledger Fabric to test potential applications in securities settlements, transactions, and payments, as well as bond repayments.
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