R3 has announced the launch of its Corda Network, which will be operated and governed by a newly-created not-for-profit organization.
Corda is a decentralized platform based on the Ethereum blockchain that is aiming to be used only by financial establishments. In other words, Corda is a blockchain-based database — aka a distributed ledger. Corda is a distributed ledger technology (DLT) project that had been in development for over a year before its launch in 2016 by R3 CEV LLC, a financial and technological investigation company based in New York. According to the representatives of R3, Corda is a brand new technology that differs from the blockchain we’ve gotten used to. The new protocol doesn’t have any internal Corda coin for use within the network because access to the data can only be retrieved by the participants of the project.
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