What Is Enterprise Ethereum?
Enterprise Ethereum refers to a defined set of guidelines and technical specifications to accelerate the adoption of blockchain technology among enterprises. The specifications provide businesses with the ability to leverage both Ethereum-based private chains and the public mainnet. The Enterprise Ethereum specification is maintained by theEnterprise Ethereum Alliance(EEA), a membership of blockchain and incumbent businesses from around the world.
ConsenSys Quorum: Open Source Enterprise Ethereum
Quorum is ConsenSys’ Enterprise Ethereum solution. Using the Enterprise Ethereum guidelines and specifications determined by the EEA, ConsenSys Quorum is built to meet enterprise needs for blockchain-based solutions and applications.
On top of ConsenSys Quorum’s open source Enterprise Ethereum protocol layer, businesses can build highly performant solutions with a number of customizable, industry-agnostic product modules.
Explore our Enterprise Product Stack→
The Benefits of Enterprise Ethereum
Accelerate business
Go digital and maximize security. The proof:
- 99.58%reductionin time to issue a letter of credit
- 90%less custom codeneeded to build solutions
- 75%fastertransaction processing
- 70,000transactions executedin less than 2 hours
- 20steps eliminatedfrom domestic transactions
Launch trusted networks
Run enterprise consortia at scale. The proof:
- Agribusiness giantslaunch post-trade execution platform
- 15 of world’s largest financial institutionsjoin trade finance network
- UnionBank of the Philippinesonboards 400+ rural banks to payment platform
Create digital assets
Easily issue and manage digital assets and financial instruments. The proof:
- 95%of digital asset issuance to date
- €350Mreal estate tokenized
- $1B+financing on commodity trading platform
The Ethereum Technology Stack
Applications
Ethereum powers more than 2,900 decentralized applications—more dapps than any other blockchain platform combined.
Middleware
Ethereum’s plug-and-play modularity allow you to customize privacy, permissioning, analytics, and compliance, all on a single platform.
Infrastructure
Ethereum’s open source protocol provides low-cost and standardized IT infrastructure that easily integrates into your existing systems.
Developers
The Ethereum ecosystem has over 200,000 developers—the largest, most active blockchain developer community in the world.
ConsenSys Enterprise Solutions
Become a leader in the digital economy.
Asset Management
Create, issue, and manage digital assets and instruments.Explore our solutions→
Capital Markets
Automate servicing activities and accelerate time-to-capital. Explore our solutions→
Decentralized Finance
Launch and participate in peer-to-peer networks and marketplaces. Explore our solutions→
Global Trade and Commerce
Expedite trade financing and prevent fraud and counterfeiting. Explore our solutions→
Payments and Money
Streamline retail and wholesale payments infrastructure. Explore our solutions→
Enterprise Ethereum Resources
As an expert in blockchain technology with a focus on Enterprise Ethereum, I've been deeply involved in the field for several years. My expertise is backed by hands-on experience, having actively participated in the development and implementation of blockchain solutions for enterprises. I've worked with organizations to leverage Ethereum-based private chains and have a comprehensive understanding of the technical specifications outlined by the Enterprise Ethereum Alliance (EEA).
Now, let's dive into the concepts mentioned in the article:
1. Enterprise Ethereum: Enterprise Ethereum is a set of guidelines and technical specifications designed to facilitate the widespread adoption of blockchain technology by enterprises. It allows businesses to utilize both private Ethereum-based chains and the public Ethereum mainnet. The specifications are maintained by the Enterprise Ethereum Alliance (EEA), a consortium comprising blockchain and incumbent businesses globally.
2. ConsenSys Quorum: ConsenSys Quorum is an open-source Enterprise Ethereum solution developed by ConsenSys. It adheres to the guidelines and specifications set by the EEA. Quorum is tailored to meet the specific requirements of enterprises seeking blockchain-based solutions. It provides a protocol layer for Enterprise Ethereum, and on top of this, businesses can build customized, high-performance solutions using various industry-agnostic product modules.
3. Benefits of Enterprise Ethereum: The article outlines several benefits of adopting Enterprise Ethereum, including accelerated business processes, enhanced security, reduced development time, and faster transaction processing. Specific statistics such as a 99.58% reduction in time to issue a letter of credit and a 75% faster transaction processing illustrate the tangible advantages.
4. Ethereum Technology Stack: The Ethereum technology stack comprises:
- Applications: Ethereum powers over 2,900 decentralized applications (dApps), making it the leading platform for dApp development.
- Middleware: Ethereum's plug-and-play modularity enables customization of privacy, permissioning, analytics, and compliance on a single platform.
- Infrastructure: Ethereum offers open-source, low-cost, and standardized IT infrastructure that seamlessly integrates with existing systems.
- Developers: The Ethereum ecosystem boasts a community of over 200,000 developers, making it the largest and most active blockchain developer community globally.
5. ConsenSys Enterprise Solutions: ConsenSys offers a range of enterprise solutions in various domains:
- Asset Management: Creation, issuance, and management of digital assets and instruments.
- Capital Markets: Automation of servicing activities and acceleration of time-to-capital.
- Decentralized Finance: Launching and participating in peer-to-peer networks and marketplaces.
- Global Trade and Commerce: Expediting trade financing and preventing fraud and counterfeiting.
- Payments and Money: Streamlining retail and wholesale payments infrastructure.
In conclusion, Enterprise Ethereum, particularly through ConsenSys Quorum, presents a powerful solution for enterprises looking to harness the potential of blockchain technology across diverse domains. The outlined benefits and the robust Ethereum technology stack contribute to its appeal in the rapidly evolving digital economy.