Baseline Protocol is a new initiative from Microsoft, EY and ConsenSys aimed at providing safe and effective way for enterprises to interact with the public Ethereum blockchain.
, which uses the popular zk-snarks technology to create an extra layer of privacy for Ethereum transactions.
This is all about to change soon as some of the largest players in the blockchain space like Microsoft, EY and ConsenSys are taking on the public Ethereum blockchain with their initiative called Baseline Protocol. This is a major development in the space because the initiative is taking a completely different approach than previous efforts. In the past, enterprises were looking at the blockchain network mostly as a settlement layer, a place to store the final state of their transactions.
Over the last two years, we have been advancing the state of the art for private, secure transactions on public blockchains. This takes the groundwork we have built and starts filling in gaps such as enterprise directories and private business logic, so companies will be able to run end-to-end processes like procurement with strong security.
A lot of people think of blockchains as the place to record transactions. But what if we thought of the Mainnet as middleware? This approach takes advantage of what the Mainnet is good at while avoiding what it’s not good at.Suffice to say that we are living in exciting times as we continue to work on and build the different components of the blockchain stack.
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