EY Open-Sources Tech It Says Slashes Cost of Private Ethereum Transactions
In the updated code, EY said it’s made additions that allow private transactions at scale by batching up to 20 ZKP transfers in one transaction – a factor it says “significantly” reduces costs. One 20-batch transaction would cost around $0.05, according to the announcement.
ZPKs enable the sharing of information proofs between parties without revealing the information itself and, thus, removing the need for trust. The latest additions to EY’s ZPK tech include batching tools and an enhancement that cuts the size of on-chain Merkle trees – a data structure fundamental to blockchains.
A key factor of the advance, EY said, is that lowering the costs of transactions in this way makes the public ethereum blockchain more competitive with private blockchain networks.
10 top distributed apps (dApps) for blockchain
Because smart contracts, or self-executing business automation software, can interact with dApps, they’re able to remove administrative overhead, making them one of most attractive features associated with blockchain. While blockchain acts as an immutable electronic ledger, confirming that transactions have taken place, smart contracts execute pre-determined conditions; think about a smart contract as a computer executing on “if/then,” or conditional, programming.
“DApps interact with smart contracts that are on the blockchain. So dApps support the user interface into the back-end smart contract that writes data to the blockchain,” said Avivah Litan, a vice president of research at Gartner.
DApps run the gamut, from digital asset exchanges like LBank to online gambling like PokerKing and games like Cryptokitties. (LBank holds the equivalent of more than $1.4 billion in cryptocurrency.)
Sorry Steve, Open Source beat you
CNBC Explores released a 14-minute documentary this month called “The Rise Of Open-Source Software” that open-source software “has essentially taken over the world”.
It points out that companies in every industry, from Walmart to Exxon Mobile to Verizon, have open-sourced their projects. Even Microsoft, whose former CEO, the shy and retiring Steve Ballmer (pictured) called open source “a cancer” has completely changed its point of view and is now seen as a leader in the space.
In 2016 the US government even promised to open-source at least 20 percent of all its new custom-developed code.”
5 open source innovation predictions for the 2020s
The concepts oEY Open-Sources Tech It Says Slashes Cost of Private Ethereum Transactions
In the updated code, EY said it’s made additions that allow private transactions at scale by batching up to 20 ZKP transfers in one transaction – a factor it says “significantly” reduces costs. One 20-batch transaction would cost around $0.05, according to the announcement.
ZPKs enable the sharing of information proofs between parties without revealing the information itself and, thus, removing the need for trust. The latest additions to EY’s ZPK tech include batching tools and an enhancement that cuts the size of on-chain Merkle trees – a data structure fundamental to blockchains.
A key factor of the advance, EY said, is that lowering the costs of transactions in this way makes the public ethereum blockchain more competitive with private blockchain networks.
10 top distributed apps (dApps) for blockchain
Because smart contracts, or self-executing business automation software, can interact with dApps, they’re able to remove administrative overhead, making them one of most attractive features associated with blockchain. While blockchain acts as an immutable electronic ledger, confirming that transactions have taken place, smart contracts execute pre-determined conditions; think about a smart contract as a computer executing on “if/then,” or conditional, programming.
“DApps interact with smart contracts that are on the blockchain. So dApps support the user interface into the back-end smart contract that writes data to the blockchain,” said Avivah Litan, a vice president of research at Gartner.
DApps run the gamut, from digital asset exchanges like LBank to online gambling like PokerKing and games like Cryptokitties. (LBank holds the equivalent of more than $1.4 billion in cryptocurrency.)
Sorry Steve, Open Source beat you
CNBC Explores released a 14-minute documentary this month called “The Rise Of Open-Source Software” that open-source software “has essentially taken over the world”.
It points out that companies in every industry, from Walmart to Exxon Mobile to Verizon, have open-sourced their projects. Even Microsoft, whose former CEO, the shy and retiring Steve Ballmer (pictured) called open source “a cancer” has completely changed its point of view and is now seen as a leader in the space.
In 2016 the US government even promised to open-source at least 20 percent of all its new custom-developed code.”
5 open source innovation predictions for the 2020s
The concepts oRead More
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