EY Auditing Giant Launches New Zero-Knowledge Proof Blockchain On Ethereum

Total
0
Shares

According to an official post, EY says the scalability is predicated on the blockchain’s ability to settle transactions at much-reduced costs. This will be done by lumping several transfers together in one transaction. The offering will be run on the Ethereum blockchain.

Speaking on the new offering, EY Global Blockchain Leader Paul Brody says that the new offering is a significant improvement on the previous ones, and will increase accessibility.

“This technology is perhaps the most important EY blockchain milestone in making public blockchains scalable for the enterprise. In the prior iteration released in April 2019, public blockchains were already getting competitive with private networks. With this iteration, we cut the cost per transaction by more than 90% again, making private transactions more accessible for mainstream business applications.”

Image Credits: Pixabay

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like