J.P. Morgan Taps Zcash to Add Security to Quorum Blockchain Platform

The Zerocoin Electric Coin Company (ZECC), developers of Zcash, have announced a partnership with J.P. Morgan to add technology from Zcash to J.P. Morgan's enterprise Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term platform, Quorum. This will extend Quorum’s existing privacy protections to add cryptographically assured, private settlement of digitized assets on a distributed ledger without a central intermediary.

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Zooko Wilcox, CEO of the Zerocoin Electric Coin Company, said: “We’re delighted to be working with J.P. Morgan on this project. Quorum’s innovative, open source design demonstrates that J.P. Morgan is leading the way for applications of distributed ledger technology in global finance. Zcash is the leading technology for cryptographic protection of assets on a distributed ledger. Combining these will unlock transformative possibilities.”

J.P. Morgan's Quorum is an enterprise-ready distributed ledger and smart contract platform, based on the Ethereum Ethereum Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Read this Term protocol. It is open source and can be freely used and extended.

Quorum has been featured in presentations by the Enterprise Ethereum Alliance. J.P. Morgan is a founding member of the Enterprise Ethereum Alliance, and ZECC has recently announced that it has also joined the Enterprise Ethereum Alliance. The organization seeks to augment Ethereum, enabling it to serve as an enterprise-grade technology, with research and development focused on privacy, confidentiality, scalability, and security.

“By adding the Zero-knowledge Security Layer into Quorum, we are able to explore how state of the art cryptographic privacy technology will enhance the next generation of financial services applications,” commented Suresh Shetty, J.P. Morgan Executive Director and Blockchain Center of Excellence Lead Architect