Hyperledger recently announced the much-anticipated release of its latest project: Avalon. Avalon represents a trusted computing framework and, by extension, a leap forward in addressing the key blockchain issues of scalability and confidentiality. Before Avalon, users often addressed these issues by conducting the relevant transactions off-chain. That choice represented a trade-off where users sacrificed transparency which is gained through on-chain transaction for off-chain transactional speed and security.
Avalon attempts to leverage zero-knowledge proofs (ZK), trusted execution environments (TEE), and multi-party computation (MPC) to provide users with the benefits of off-chain speed and anonymity while still keeping transactions on-chain. The diagram below illustrates the general expected workflow.
Now it is still early on this – the integration to Hyperledger Fabric isn’t yet complete – but we think this is a critical step forward in reducing the friction associated with placing high volume/high security transactions on a chain.
Here at BlocWatch, we remain incredibly excited and bullish on enterprise blockchain adoption. We see continued evolution of the chain protocols and an ever-expanding set of use cases. The early adopters from FinTech to Healthcare to Oil & Gas continue to bring chain to production. We see large scale supply chain implementations becoming a reality as more and more enterprises realize the power of DLT technology.
Our company goal is to help enterprises comfortably adopt and leverage this new technology and we remain committed to servicing this evolution. We encourage you to explore the benefits of our dashboards, monitoring, and automated alerting.