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R3 Corda blockchain firm has finally managed to force their smaller rivals, formerly Coda, to change its name through legal action. However, despite the change of name, the technology underpinning Mina remains the same.
R3 Corda filed a lawsuit against ‘Coda’ in 2019
R3 Corda blockchain firm filed a lawsuit against O(1) Labs Operating Corporation, the firm behind Mina, last year. In the lawsuit filed back in 2019, the blockchain heavyweights argued that even if ‘Coda’ and ‘Corda’ had different use cases, end-users, and different spellings, the brand’s name was ‘confusingly’ identical to its brand ‘Corda,’ as per the report.
The former Coda blockchain firm revealed the changing of name through an open letter, explaining that going head-to-head with the Wall Street-backed blockchain giants would be exorbitant. However, the team noted it was unhappy to let go of the name Coda. While stressing the economic prowess of R3 Corda blockchain company, Mina wrote:
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“Yes, you’re bigger and have more money than us—but we’ve got more important things to do. So today, we’re saying goodbye to Coda.”
Mina Protocol
Having concluded its name troubles, the rebranded Mina Protocol noted that matters are running in maximum velocity in its open letter. As per the firm, its testnet will be launched before the end of 2020, which will provide participants with an opportunity to procure tokens for identifying the network’s flaws. Furthermore, the lightweight blockchain firm noted that its DApp development system is almost complete and launched in the near future.
Mina throws in the towel
Blockchain behemoth, R3, filed the trademark lawsuit on October 24, 2019. Coda allegedly threw in the towel and decided to surrender Coda’s name due to the financial implications associated with such lawsuits. R3 is a well-backed blockchain firm with a lot of resources. In such cases, the final ruling might hugely be dependent on the persuasiveness of the involved parties, briefing, and argument. Nevertheless, Mina threw in the towel before matters escalated further.
