The widespread use of the public blockchain offered by Ethereum indicates it is more secure and powerful when compared to private blockchains. Besides, public blockchains provide more liquidity. Keeping that in mind EY has created a ZKP-based application so that all the companies under their roof will be able to carry out transactions privately by using a public ledger.
Ernst & Young (EY) launched their world’s first zero-knowledge proof (ZKP) technology on the Ethereum public network. Even though it is currently a prototype it will help enterprises in issuing and selling of products and services tokens. This will happen through a public Blockchain while maintaining permission access to the history of transactions.
Right now, EYs London and Paris blockchain labs are still waiting for approval for several relevant patents.
The major USP of this technology is that it allows private token transactions without interfering with the consensus algorithm. The system is fully capable of operating with payment tokens as well as product and services tokens with all necessary permissions.
The full-fledged service represents a kit of apps and services helping companies commercialize the use of the distributed ledger technology (DLT).
Argon Goes live on Ethereum Mainnet
Just as EY has been working on their product which uses Ethereum as their base technology, Argon has been booming since it already has 15,000 users that too when it is still being operated on the Ethereum.
A version of a distributed ledger where developers can test new applications, platforms, and ideas. Virtual currencies can be obtained which have no actual value, for the purposes of troubleshooting these “in-dev” products and tools. After development on the testnet, products such as Dapps are released to the mainnet.
The Aragon team has been an active participant of Ethereum community and supports the Ethereum governance conversations and groups.
Argon came up with a belief that coin-based voting is one way to contribute to Ethereum community-based decisions. Keeping that in mind mainnet release was taken as a means for the projects to have a workable way of managing coin voting and governance in the real world.
Ethereum on charts
Ethereum has been going down pretty hard and has been facing a hard time getting out of its 200 USD streak. The sudden drop on 30th October seems to have made an impact. The drop seems to be stable but hasn’t shown any signs of upward growth.
As no 4th Oct 2018, the value is stable at 201 USD it is expected that it will soon end the 200 USD streak and show some upward trend.
Even though the charts might say something different but the market seems to be booming with numerous companies collaborating with Ethereum’s underlying concept and technology on the blockchain.