Linux Foundation launches new alliance to find next Bitcoin technology

      NetEase Technology News: According to foreign media reports, as financial institutions become increasingly interested in virtual currency software, many banks have expressed interest in Bitcoin, the underlying blockchain technology.

     Blockchain is a set of algorithmic technologies behind Bitcoin, which enjoys a high reputation in the Bitcoin circle. In an announcement, the Linux Foundation announced the establishment of a team to develop new blockchain technologies, aiming to help accelerate the development of this technology to make it suitable for enterprise use. The new digital asset holding company established aims to find a new algorithm to replace blockchain, and the new technology name is considered to use "hyperledger".

The project will bring an enterprise-grade open source, distributed ledger framework to enable developers to focus on "industry-specific applications, as well as the platforms and hardware systems that support business transactions." The group's members include: Accenture, ANZ Bank, Cisco , CLS, Credit Suisse, Deutsche Börse, Digital Asset Holdings, DTCC, Fujitsu , IC3, IBM , Intel , JPMorgan Chase, London Stock Exchange Group, Mitsubishi UFJ Financial Group, R3, State Street, Swift, VMware and Wells Fargo.

     Blockchain requires a cross-industry, open source collaboration to promote the development of the technology. Core Infrastructure Initiative said that Linux has been working hard to shape a secure form of transaction data after the Heartbleed vulnerability. The blockchain system must use a secure way to conduct financial transactions because there is no unified database for transactions, which is one of the reasons why criminals favor Bitcoin.

     As a permanent security tool, it allows virtual value to be tracked and traded. It can track almost all financial transactions, including bonds, stocks, and personal assets in a decentralized system, and even more. Jim Zemlin, executive director of the Linux Foundation, believes that distributed ledgers will change many fields, including banking, shipping, and the Internet of Things.