ETH Zero-Proof Prototype Models: Has Ernst & Young Done What Ethereum Could Not?


Did E&Y beat Ethereum to the post with their zero-knowledge proof prototype for private transactions on public blockchains?

Multinational auditing and consulting firm, Ernst & Young (EY), announced on October 30 the launch of their EY Ops Chain Public Edition (PE) prototype, the world’s first implementation of zero-knowledge proof (ZKP) technology on the public Ethereum blockchain.

This system aims to overcome three main barriers of current transactions and asset transfers on a public blockchain:

  • The ability for companies to conduct secure transactions on a public network;
  • Lower some of the barriers to more widespread blockchain adoption; and
  • Enable a full traceability trail of private transactions.

Although still only a prototype version, and set for live production offering in 2019, this technology could prove hugely significant.

To consider this in greater detail it’s useful to first look at the…



Read Full Story : Cointelegraph.com News

2018-11-07 15:51:00

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