Corda 5 - “So far”- Part 1

On September 29, 2021, R3’s Product Team released Corda 5 Developer Preview. There is no doubt that Corda 4 has been leading empowering solutions for developers to re-architect trust in regulated multi-party enterprise use cases in a wide range of ways since February 2019. But the new demands from financial services and regulated markets have committed R3’s minds to re-architect Corda’s DLT platform.

Corda 5 is still under development but releasing quarterly, a series of previews where developers can have their hands on and give honest feedback. The Corda 5 series of previews would be ending sometime next year before it reaches to be a product version that meets all demands

What do we want to achieve?

Faster and cheaper application development cycle that can quickly prove the value of your solution and rapidly promote it to production. Lower cost of operations for a larger array of operating models and new architecture to be HA and horizontally scalable from the ground up that will support any app in our ecosystem.

Those are key elements for the new DLT platform. Following four key areas of focus in the development of the platform, in which its properties (non-functionals) are changed but none of its DNA:

-With Modular APIs aiming for new tools, and packaging to make developing in Corda faster and more enjoyable.

-The new artifact —Installer— combined with a simpler Application network — should make your go-to-market, onboarding, and version management experience much simpler.

-The new architecture should give you the flexibility to evolve your operating model as you grow, with the ability to move the operations of virtual nodes across worker clusters.

-The app-based network management and virtual nodes should make Corda less expensive to run for everybody involved.

Where do we want to go?

Using the new tools released in every new Corda 5 preview will improve developers’ productivity, paving the road for Corda’s 5 direction.

Corda’s new event-driven architecture will earn us enough reliability for sophisticated enterprise multi-party use cases and power the next central bank digital currency, global payment network, or critical market infrastructure in the future.

Next on this series Part 2, more of the architecture, Modular APIs, and application networks from Corda 5.