In the past few months, the blockchain space has seen the adoption of platforms across various industries increase. One of the most surprising cases of adoption was the partnership between Microsoft and JPMorgan to create an Ethereum based network called Quorum. Quorum provides the Ethereum functionality with enhancements to support enterprise needs. Since all the actors on the network are known entities, you no longer need to reward your “miners” with Eth Gas or utilize proof-of-work algorithms. As a result, Quorum users see a significant increase in security and speed when validating new transactions to the network.
JPMorgan’s emergence into the blockchain market comes as a shock to most considering the CEO’s, Jamie Dimon, previous comments regrading the emerging technology. Today, he is driving the company headfirst into the crypto and enterprise blockchain space. Up until recently, Quorum and JPM Coin have been unchallenged and rapidly gaining popularity. However, there is a seismic shift taking place where companies have several choices when it comes to their ideal platform.
The other major player in the enterprise community is Hyperledger with its own Fabric platform. In order to compete with those on the Ethereum platform, Hyperledger released their Besu project with the intention to act as an open-source Ethereum client.
Besu has the functionality to act as a Public or Permissioned Ethereum network as well as includes several consensus algorithms including Proof-of-work, Proof-of-Authority, and IBFT. What really makes Besu special is that it allows for comprehensive permissioning schemes designed specifically for uses in a consortium environment. Besu aims to make deployment of enterprise blockchains simple with it’s easy to use interface.
BlocWatch supports Hyperledger Fabric, Public Ethereum, Permissioned Ethereum, and Quorum so no matter which platform you decide to go with we have you covered! With the emergence of simpler clients, it makes it even easier to integrate our agent into your network to get analytics, real-time alerts, and recommendations. Schedule a call with our experts today to learn more and have us unleash the full potential of your blockchain.