AN ETHEREUM VARIANT THAT PROVIDES ENHANCED PRIVACY FEATURES WITH A MODULAR CONSENSUS DESIGN
Quorum™ is developed by JPMorgan Chase and is a version of the public Ethereum blockchain. Ideal for blockchain solutions that require high speed and high throughput of private transactions within a permissioned group of participants, Quorum™ meets the organizational requirements across many different industries. Unlike the public Ethereum network, information that is agreed to be private are never broadcasted across the network. Additionally, in the public Ethereum network there is only one consensus algorithm available, which is Proof-of-Work (PoW). In Quorum™, developers have the option to choose which consensus algorithm meets their use cases best.
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CLICK HEREBenefits of Quorum™
Privacy
In the public Ethereum network, all of the information collected is shared among every single node in the network. While there are tricks to keep this data private such as encryption pre-blockchain ledger, there may be some use cases where not all of the nodes need / can see the information in transaction. For this reason Quorum™ provides “Tessera,” an upgraded version of “Constellation.” Think of Tessera as a private channel between specific nodes. Information sent between these special Tessera nodes is kept between these nodes, but still updates the entire Quorum™ network with the transaction hash.
Modular Consensus Design
Consensus algorithms aren’t a one-size fits all solution. Specifically, when dealing with a private blockchain or consortium environment, there will be many stakeholders that will need to ensure that trust, functionality, and scalability is adhered to. Quorum™ provides developers as few options to help address the needs of each business stakeholder. The options available are RAFT, IBFT, or Clique POA.
Compatible Ecosystem
It’s stated that there are more than 300,000 professional Ethereum developers, trainers, etc. That makes the Ethereum ecosystem one of the most prominent and established ecosystems in the blockchain industry. Since Quorum™ is a version or fork of the public Ethereum network, developers familiar with Ethereum will be able to hit the ground running. Many of the same development and testing tools are interoperable with Quorum™.
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Envision Blockchain Solutions builds applications for the Web3 space. Our mission is to reshape and align today's systems allowing organizations to recognize the new value in tomorrow's Industry Vertical Solutions. The management team has years of Fortune 500 experience and has built a team of subject matter experts in Web3 and Business Transformation Processes. We focus on guiding organizations through 3 major milestones on their Web3 journey: Use Case Analysis, Proof of Concept Development, and Scaled Deployments.
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