Back in the Ring: EEA Releases Software Stack for Enterprise Applications

The Enterprise Ethereum Alliance (EEA) has released the ‘Enterprise 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 Architecture Stack’ software that represents the next phase of its Enterprise Ethereum specification strategy. The stack provides a set of standards for Ethereum-based business applications and is a significant step toward enabling the creation of interoperable Ethereum-based 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 platforms.

In a statement to Cointelegraph, Ron Resnick (head of the EEA) said that “basically, this conceptual framework characterizes and standardizes all the components from the EEA Ethereum ecosystem, and it extends the concept in technologies from the public Ethereum as the part of our enterprise Ethereum spec.”

The EEA is excited to release the first #EnterpriseEthereum Architecture Stack, the next step towards standardizing enterprise #blockchain development: https://t.co/4qU4DpxfOk pic.twitter.com/8cxZwiaflF

— EntEthAlliance (@EntEthAlliance) May 2, 2018

“So it’s all the building blocks that we now organize in a framework, which creates an architecture that software programmers can build their solutions,” he added.

A TestNet and a certification program will also soon be released by the EEA with the goal of supporting a “higher of level of confidence” for Ethereum-based enterprise dapps (decentralized applications).

A Step in the Right Direction

The EEA has stayed relatively silent since its formation a year and a half ago. Although the group is comprised of over 500 entities (including Santander, JPMorgan, and a number of other big names in the financial and tech industries) the group has not executed many large-scale projects in recent months.

This has not gone unnoticed in the larger crypto community--in a Medium post, Richard Brown, the CTO of R3, condemned the EEA’s lack of progress in delivering an enterprise-appropriate solution proved that the network was unsuited to the industry: “the public Ethereum network just can’t be used to deliver [interoperable applications for enterprise]. Right vision, wrong architecture for business, if you like,” he wrote.

However, that may be about to change. It seems that the release of the new stack may be a sign that Ethereum is ready to keep competing with the myriad other enterprise-focused blockchain networks that keep popping up within the space.

The head of Santander’s R&D for Innovation Initiatives said that "the Alliance’s mission from day one has been to build the framework that could be used to meet all the needs of its members.”