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Ernst & Young today announced the launch of the EY Ops Chain Public Edition prototype, the world's first zero-knowledge implementation on Ethereum's public blockchain.
This technology is the first to allow companies to securely and securely create and sell tokens of products and services on a public blockchain with private access to their transaction logs. EY Ops Chain PE uses ZKP technology to enable private token transfers without interrupting the consent algorithm.
"The PE EY Ops chain is a first application and an important step forward that allows for the adoption of blockchains.The private blockchains offer companies the privacy of transactions, but at the expense of reduced security and resilience." With ZKP, the organizations can conduct transactions on the same network as their competitors in complete privacy and without sacrificing the security of Ethereum's public blockchain. "says Paul Brody, EY's global innovation leader, Blockchain.
Public blockchains require a critical mass of participants; become stronger with the adherence of more companies.
James Wester, IDC's Worldwide Blockchain Strategies research director, notes: "Developing tools that improve the capabilities of public blockchains will stimulate public blockchain adoption and will be crucial to the growth of blockchain technologies in The ability to guarantee privacy while maintaining the security and resilience of public blockchain is an important consideration.It offers opportunities for companies to start building real solutions on public blockchains and is an important step in the evolution of technology. "
In addition, this solution includes the EY Blockchain Private Transaction Monitor prototype that captures transaction history for later review.
EY is developing a release roadmap for EY Ops Chain PE and EY Blockchain Private Transaction Monitor which will aim to improve transaction efficiency and time scalability for a production offering in 2019.
