Why Enterprise Ethereum?
Ethereum codebase can also be used by enterprises worldwide to form blockchain networks for businesses. These private Ethereum instances are different from the public chain and have an option to bridge the data on the main public network of Ethereum.The Enterprise Ethereum Alliance is the world’s largest Blockchain initiative which offers enterprise focus additions including the capability to perform private transactions, provide transaction throughput scaling and enforce membership. Private transactions are transactions where payload data or metadata are readable by only those parties which are involved in the transactions.
Another thing is that Enterprise Ethereum network doesn’t face the same type of scaling or private constraints as public Ethereum. They transact faster than 15-20 TPS which is reported on public Ethereum.
Enterprise Ethereum vs Distributed Ledger
R3’s Corda and Hyperledger Fabric are the two enterprise solutions which have successfully earned recognition in the world. Enterprise Ethereum has the lowest cost business model, and due to the Ethereum’s open-source codebase, Enterprise Ethereum is easily deployable. Enterprise Ethereum has the most advanced platform for tokenizing of assets. Converting fiat or an asset into digital asset offers businesses the capacity for scalable, secure and fast asset transfer. Assets that are registered in a digital format can be tracked and transferred much faster while maintaining high levels of security.There are many benefits of Enterprise Ethereum over distributed ledger:
- High security – The data of an organization is safe on an enterprise-grade blockchain. The decentralized architecture makes sure that everything recorded is impossible to hack. Enterprise Ethereum has a customizable privacy and permission layer which allow businesses to build the security controls that are needed by them.
- Efficiency – Enterprise Ethereum is a secure platform on which authorized parties exchange data and records. Customizable smart contracts automate the processes such as legal arbitration, ID verification and payment settlement.
- Higher trust at lower rates – Blockchain technology reduces the cost of trust, which is very expensive for businesses. Enterprise Ethereum’s immutable ledger makes it easy for the parties in a business to manage data and reach agreements.