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 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.
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