Enterprise Ethereum upgrades to boost interoperability, performance

The Enterprise Ethereum Alliance (EEA) today announced new and updated specifications aimed at helping developers create business-class blockchain networks that are faster, easier to use and capable of interacting with other distributed ledger networks.

The specifications include a brand-new set of APIs for moving compute functions off of Ethereum blockchains (known as off chain) to reduce computational loads and improve primary network performance.

The new APIs are intended to help blockchain programmers build in the privacy, low latency, and throughput needed for enterprise use cases in Fintech, supply chain, IoT and other business applications.

The Ethereum blockchain specification began as an open-source, public blockchain in the same vein as bitcoin, enabling the creation and trading of cryptocurrency over an open distributed ledger based on a peer-to-peer computer architecture. Over time, software vendors began to independently modify Ethereum for enterprise use by creating a permissioned version, or one that could be centrally administered while also offering higher transactional performance and user privacy.

The EEA was founded by various start-ups, research groups, and Fortune 500 companies to achieve commonality in how various business-class Ethereum blockchains were created so developers didn’t end up building dramatically different versions that could not interoperate.

The idea behind the EEA’s Off-Chain Trusted Compute Specification V1.0 is to remove burdensome compute intensive workloads from an electronic ledger (essentially a distributed database) to improve performance and storage capacity.



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