R3, an enterprise blockchain software firm, announced today the launch of the Corda Token SDK. The SDK is a developer toolkit and set of standards aiming to do for Corda, what ERC20 did for Ethereum.
With the launch of the Token SDK, users can now create native tokens on the Corda blockchain, with:
- A common way to define types of token
- A common way to issue tokens
- A common way to use and trade tokens
Why tokens on Corda?
Secure crypto assets: Corda’s unique privacy, security, regulatory friendliness, strong identity layer, and tight integration with the existing financial system.
Speed and Scale: Corda has demonstrated that DLT can support trading volumes in the US Equity Markets of 6,300 trades per second.
This is because Corda is optimally sharded. Corda nodes don’t process transactions unrelated to them, and as a result, transactions per second on a network level increases linearly as nodes are added.
The UTXO model that Corda employs has proven to be a powerful way of recording tokens on the blockchain. Rather than a stateful contract that everyone interacts with, users hold your own tokens. States are both stored by and controlled by a user’s own node.
An all-in-one solution: Use the open-source Corda Settler to settle tokens into fiat through traditional payment rails, reducing settlement time, cost and counterparty risk.
Those already building token solutions on Corda today include:
- SDX (SIX Digital Exchange) – is not only building the digital exchange of tomorrow on Corda but setting the foundation for a new environment of rules, regulations, and standards that will build trust in the way digital assets are handled
- Ivno – is re-shaping legacy financial infrastructure, providing efficiencies to global institutions such as Collateral Mobility, Effective Cash Transfer and Atomic Settlement (DvD) on Corda — all utilizing the Ivno collateral-backed token built on the Token SDK
- ValueOnChain – is tokenizing the real economy through automated issuance of debt and equity and in doing so bridging the gap between private equity and listed companies
- Tradewind Markets – with their gold and silver trading platform and HQLAx with securities lending — all employing tokens with legal underpinnings and support from real-world custodians and asset issuers