Enterprise Ethereum :How it Differs from DLT?

You might have come across the concept of enterprise blockchain projects as it is now gaining more popularity each day. Numerous companies are collaborating with these business networks for streamlining shared business processes such as tracing real-world goods, managing data, and tracking transactions.

Understanding Enterprise Ethereum?

Ethereum, as most of us would already know, is a public blockchain that allows us to write codes to control money and build applications that are accessible from anywhere in the world. It is a public blockchain which allows application developers to pay using Ether (Ethereum’s cryptocurrency) for services availed on the Ethereum blockchain.

An enterprise Ethereum is one where the Ethereum codebase is used by enterprises across the world to form business blockchain networks. While there is no single product called “Enterprise Ethereum,” the term refers holistically to blockchains that are developed using modified Ethereum clients like Quorum and Pantheon. These address the specific needs of the enterprise, such as increased performance, scalability, and privacy, along with permissions and governance controls.

Another significant fact to note here is that enterprise Ethereum networks will not face the same privacy or scaling constraints as the public Ethereum. As the network size of enterprise Ethereum networks is smaller and the block sizes and the gas limits can be adjusted, it is possible to scale more transactions per second like other distributed ledger technologies (DLT).

Reasons for Ethereum Being More Than a DLT

R3’s Corda and Hyperledger Fabric are the other enterprise solutions that have gained popularity. Let us now understand the various features that make enterprise Ethereum the most powerful and versatile blockchain for business.

1. Enterprise Ethereum Can Access the Public Ethereum, the Most Developed and Secure Blockchain Platform in the World

Enterprise Ethereum is faster due to increased participation. This is not the case with distributed ledger solutions. Right from 2015, many people have purchased millions of dollars of Ether on the public Ethereum. Many developers have built more than 2,000 decentralized applications on Ethereum. This is what makes Ethreum’s public network the most advanced and tested blockchain platform in the world.

So, how does enterprise Ethereum benefit by developing on the public mainnet? Building on Ethereum will help enterprise solutions quickly adopt updates to Ethereum and benefit from the innovation of the ecosystem. It offers them an active and vast high-value public blockchain and all the elements of its ecosystem.

2. Enterprise Ethereum Can Be Rapidly Deployed and has the Lowest Cost Business Model

The open-source and flexible codebase of Ethereum helps enterprise Ethereum have a low-cost business model as it eradicates dependence on a single large solutions provider whose business model focuses on upselling and feeding on deep dependencies cloud and consulting services. Private, permission Ethereum networks can be set up within weeks when compared to other solutions that are difficult to maintain. New business solutions are constantly launching like Kaleido’s blockchain business cloud, which is an example of a SaaS platform to build and run enterprise blockchain solutions.

3. It Offers the Largest Enterprise Ecosystem

Ethereum is the most active technical blockchain community across the globe, with more than 2,000 decentralized applications and more than 300K infrastructure experts and developers. The enterprise and consumer arenas of Ethereum are developing standards to guide regulation and promote interoperability for the future success of the blockchain.

4. Enterprise Ethereum Helps Future-Proof Companies

Future-proofing is the concept of protecting companies against obsolescence. For enterprise Ethereum solutions, future-proofing can be applied to three things, namely your company’s data, your company, and Ethereum itself. Future-proofing can also mean the actual functioning of a blockchain. A blockchain helps keep data safe, immutable, and future-proofed. Decision-makers may even define future-proofing as mitigating risk to ensure prolonged success for their businesses.

Conclusion

I hope you have now understood the aspects in which an Enterprise Ethereum can be considered to be more than a distributed ledger technology. To become an Ethereum expert and get instant updates about blockchain certifications, check out Blockchain Council.

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Created on Apr 6th 2020 04:01. Viewed 127 times.

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