In a noteworthy advancement, the Enterprise Ethereum Alliance (EEA) launched the much-awaited Enterprise Ethereum Client Specification (CS) 1.0 – an open-source, cross-platform blockchain system that guarantees and builds trust in smart contract-based frameworks.
Published on May 16 on EEA’s official website, the announcement detailed the framework’s benefits, and drew attention to its capability of creating exceedingly efficient business models, while accelerating transactional speed.
Until this development, associations could only utilize a proprietary, privately-permissioned adaptation of the Enterprise framework.
The system is currently available on EEA’s website for free download.
According to the announcement, the Client Specification (CS) 1.0 shall effectively replace incapable and costly multi-platform protocols, and allow participating associations from a range of business sectors – such as banking, law, communications, and healthcare – to create customized blockchain systems that fit their requirements.
Earlier on May 4, 2018, EEA announced the launch of its Architecture Stack software, which intends to streamline and improve Ethereum-based applications. Interestingly, the CS 1.0 is built on this Architecture Stack and seemingly serves as a proof-of-concept for the latter.
As per a report by Gartner, blockchain technology is primed to surpass a mammoth $3.1 trillion in market value by 2030, and Ethereum looks poised to dominate a lot of this market with real-world developments, such as the CS 1.0.
As indicated by Ron Resnick, EEA’s Executive Director:
This EEA open-source, cross-platform framework will enable the mass adoption at a depth and breadth otherwise unachievable in individual corporate silos. With over 500 organizations as members, we anticipate great things in 2018 as EEA members work with the global development community to build, test and certify solutions to grow the ecosystem.
Additionally, Resnick informs that the CS 1.0 was the result of 18 months of “intense collaboration between leading enterprise, technology and platform members within our technical committee.”
The Cs 1.0 enables Ethereum developers to build frameworks which guarantee interoperability, making the system lucrative to an expansive number of enterprises. As stated on the site:
The EEA Specification provides insight into the future of scalability, privacy, and security – a single, interoperable, development framework for spanning both permissioned and public Ethereum networks.
To guarantee interoperability across members, the EEA is considering the release of a TestNet in the future.
For now, EEA’s members-only Certification Program has been established to ensure conformity and interoperability of member-networks to established standards.
The launch has been met warmly, with a number of partner enterprises praising the framework. Amongst them was Intel’s Rick Echevarria, who said:
“Intel is committed to enabling blockchain adoption and, as a founding member, is pleased to see the Enterprise Ethereum Alliance release this specification, addressing privacy and security among other requirements.”
Featured image from Shutterstock.
Last modified: May 20, 2020 8:47 PM UTC