Baseline Protocol

2020: Announcement

At the beginning of March, 2020 EY, Microsoft and ConsenSys provided Baseline Protocol — a blockchain protocol for use of Ethereum in the corporate sector. The purpose of the companies consists in giving the chance to the enterprises to use a public blockchain of Ethereum for difficult and confidential processes without storage of confidential data in a blockchain.

EY, Microsoft and ConsenSys provided Baseline Protocol — a blockchain protocol for use of Ethereum in the corporate sector

One of the staff of ConsenSys John Wolpert explained:

It is not the platform. It is not a product. It is not a coin. It is a method of use of the main network (public Ethereum) which as it is supposed, will be acceptable for very conservative employees of security services, Chief information officers and technical directors.

Baseline Protocol offers tool kit which allow not only to carry out transactions in a private order, but also to confidentially make smart contracts and to communicate with partners.

We can be sure that this networks of all participants are absolutely confidential, - the leader in global innovations of EY Paul Brody explained. As envisioned by creators, any ERP system, the CRM system or a management system for supply chains can conform to requirements of Baseline that allows business partners to synchronize data without middle software.

Usually developers aim to provide interaction between a blockchain networks. But ConsenSys and EY claim that the blockchain products is an alternative of functional compatibility use of a single platform, such as Ethereum. Nevertheless, the set of shortcomings, including energy-intensive mining, insufficient scalability and the inefficient end result also has Ethereum. The solution of many of them is already considered in Ethereum 2.0.^[1]

You look also the Blockchain and cryptocurrency

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