The savior of Ethereum? Enterprise Ethereum Alliance (EEA) main network plan is ready to go

Last week, the Ethereum Alliance (EEA) announced the launch of a “ main network plan ” to accelerate the cooperation between the company and the Ethereum community on the Ethereum public main network. The initiative will be led by a technical working group and will provide a channel for the Ethereum main network R&D team to understand more business needs, while giving companies the opportunity to influence the development of the Ethereum main network.

Marley Gray, chief architect of Microsoft and member of the EEA board of directors, said:

“The rapid development of Ethereum's main network technology innovation is changing the consumer-oriented industry through peer-to-peer transactions and services.”


The goal of the main network plan: to adjust the Ethereum ecosystem

The Enterprise Ethereum Alliance, whose technical specification working group recently released a v3 client specification, promotes the adoption of enterprise Ethereum.

Joseph Lubin, co-founder of Ethereum, founder of Consensys and member of the EEA board of directors, sees the main network plan as another milestone on the road to interoperability in Ethereum, saying:

“In the past year, we have seen the interest and adoption of Ethereum technology in the company ushered in explosive growth. It is worth noting that the company has made a practical and determined effort to use the Ethereum main network and The main network builds infrastructure, which will also serve many business use cases for a long time… From mainstream financial services companies to central banks to large energy companies, major institutions are turning their attention to Ethereum."

  In the past five years, the Ethereum main network has been driven by a vibrant community. Since the establishment of the Ethereum main network, it has processed more than 500 million transactions and processed more than 130 million transactions in 2019 alone. To date, the Ethereum network has more than 70 million unique addresses, 16 million of which were created since the beginning of the year. In addition, it is estimated that the development community of Ethereum is also the largest of all blockchain communities. From 2018 to 2019, the number of core Ethereum developers has increased by more than 20%.

But these achievements are not enough.

Because of this, Ethereum's main network development cannot be isolated from the current business world, and its main network community should strive to be inclusive and work with as many stakeholders as possible. This can't happen overnight, but motivating those who manage many of today's business processes will bring the traditional business community closer to participating in an increasingly decentralized but secure global network.

For example, last month, CapBridge Group partnered with Consensys to launch 1Exchange, the world's first private stock exchange that relies on the Ethereum main network, which will be directly regulated by the Monetary Authority of Singapore.

Many enterprise blockchain experts predict that the access to the Ethereum main network by the licensed blockchain network will be similar to today's intranet access to the Internet. In this case, users behind the security firewall can still access all or part of it. the Internet. In the case of a blockchain, the corporate network will access the Ethereum main network through the bridge and be able to select the networks, nodes and accounts to interact with on the main chain. A licensed network interoperable with the Ethereum main network will allow data storage across the blockchain and private clouds with customizable privacy and scalability. Connecting to the Ethereum main network also allows for compatibility and access:

  1. Other open source or commercial blockchain networks;
  2. a wider market and users;
  3. Data or governance logic;
  4. Thousands of dapps;

By launching the Enterprise Master Network initiative, EEA hopes to open the door to thousands of users and business processes that naturally fit into larger, more decentralized networks. A major part of the working group's charter will be to produce high-quality technical documents, promote EIP (Ethereum Improvement Recommendations) related to business needs, and develop technical specifications to enable the enterprise system to interact more deeply with the Ethereum main network.

What is the next step?

At the core of the Web3 commitment is the need to have a fully decentralized network. So far, Ethereum is a very good choice. The Ethereum community is currently building the next generation of the main network: ETH 2.0, which is a The huge project, its main network will use the more energy-efficient Casper consensus mechanism and support higher transaction throughput, which is expected to open its first phase in early 2020.

Once the EEA main network working group is officially launched, the Ethereum ecosystem will have a suitable forum to connect the main network and the corporate world. The leadership of the working group will come from the Ethereum community and business community. The program requires participants who understand the business needs and the Web3 technology stack. The goal is not to adapt the Ethereum main network development to specific business or industry needs, but to enable any company that evaluates the blockchain use case to view the Ethereum main network. An integral and indispensable part of its solution.