Ethereum Baseline Protocol Code Now Available on GitHub
The open-source Baseline Protocol code permitting non-public methods to be constructed on the Ethereum public blockchain has now been printed to GitHub, as of March 19. This implies that the EY, Microsoft and ConsenSys-developed protocol is out there to the general public.
With transactions on the Ethereum blockchain being public and accessible for all to see, companies requiring knowledge privateness have tended to deploy their very own non-public blockchain or an enterprise model of Ethereum.
However, utilizing zero-knowledge proofs, off-chain knowledge storage, and distributed identification methods, the Baseline Protocol permits companies to make the most of the general public Ethereum chain whereas retaining delicate knowledge non-public. According to ConsenSys:
“The protocol will support tokenization and decentralized financial services on the Mainnet in a way that doesn’t reveal corporate assets or activities to unauthorized parties, and it leaves enterprise data safely in traditional systems.”
Business use case
Announcements concerning the protocol have up to now primarily targeted on product procurement. Purchase orders will be tokenized and handled by sensible contracts, whereas a demo included with the code performs real-time calculation of bulk reductions on purchases.
However, in line with the documentation equipped on GitHub, it’s versatile sufficient for use for different enterprise actions, and has been, “designed such that it can be extended and applied to any database/workflow.”
If you like one thing, set it free
As Cointelegraph reported, the Baseline Protocol code was launched and launched to chose events by invitation in the beginning of the month. The code has now been donated to the general public area by non-profit requirements group OASIS.
The work will likely be ruled by the Ethereum-Oasis venture, which is managed by OASIS and funded by the Ethereum Foundation and the Enterprise Ethereum Alliance.
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