Peter Todd: Corda is Bitcoin without blockchain, suspected of plagiarism

After the turmoil in November, R3’s decision to open source its blockchain platform seems to be a good one. However, Bitcoin Core developer Peter Todd believes that Corda has similarities with Bitcoin.

R3 announced yesterday that its distributed ledger platform Corda has been officially open sourced, and the global developer community can access Corda's source code. R3 hopes to encourage more developers to cooperate with it and participate in platform code review through open source. As more and more companies and people adopt R3 technology, its value and network effect will become stronger and stronger.

David Rutter, CEO of R3, said that the open source of Corda is destined to be the largest collaborative project in the field of distributed ledgers, and will provide the latest and most cutting-edge technical solutions for participants in the financial services industry. In addition, Corda can integrate different solutions, complete the seamless connection of technical solutions in a unified and open mode, and realize the interoperability of Internet public protocols.

When Corda was first released, Todd said that the platform architecture was similar to the product he developed at Proofchains last year. In addition, he also pointed out that R3 copied the Bitcoin Merkle tree.

One netizen believes that Corda is more like a combination of Bitcoin and Ethereum, and Todd commented:

Corda is more like Bitcoin without the blockchain.

R3 is constantly being attacked

Todd tweeted last week that R3 rejected a third-party peer review of Corda. A bank hired Todd to review Corda, but R3 rejected the offer and even issued a cease and desist order.

Todd also said that two reporters told him that they had been threatened by R3.

Earlier, some people pointed out that more and more banks were planning to leave R3, and the financing of the R3 project had been stranded:

R3 planned to raise $150 million, but only received $56.5 million in the past few months. R3’s previously planned 40% equity may have been lost.

The rumours have been circulating since Goldman Sachs, Santander, Morgan Stanley and NAB quietly left R3.

Bitcoin angel investor Chandler Guo recently said that although venture capitalists prefer concepts proposed by companies such as R3, they will eventually find that Bitcoin is the most real existence outside the blockchain bubble.

Prior to the official open source release, R3 announced its first partner, Calypso Technology, which will use the Corda distributed ledger to build a smart contract platform aimed at developing capital market applications.