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Ethereum Enterprise Alliance Releases New Set of Specs for Developers

Kristina Frunze | Oct. 30, 2018
Ethereum Enterprise Alliance Releases New Set of Specs for Developers

Ethereum Enterprise Alliance published a new set of specs in order to present standards for Ethereum Blockchain developers. What do we know about these specifications?

30 October, 2018 – The Ethereum Enterprise Alliance (EEA) released a new set of specifications in a bid to provide standards for developers that utilize private iterations of the Ethereum Blockchain. 

EEA Releases New Specifications for Ethereum Developers

The EEA informed the public about its release of the Enterprise Ethereum Client Specification V2 and Off-Chain Trusted Compute Specification V0.5. during the DevCon4 in Prague. The Off-Chain Trusted Compute Specification V0.5. is an update of the common standards, which intends to make sure that Ethereum developers will write code that “[motivates] enterprise customers to select EEA specification-based solutions over proprietary offerings.”

The Enterprise Ethereum Client Specification V2 will offer a label of sorts, which implies that a product was tested by a third party in order to be sold as EEA-compliant. 

The latter specification release is a set of application programming interfaces (APIs). These APIs can move transactions “off-chain” for computation elsewhere. Then, they can move a summary to the “main chain.” EEA APIs using the recently published specifications would provide programmers with methods of transferring data off-chain regardless of any one trust verification method. The APIs have been revised to be compatible with Trusted Execution Environments, Zero-Knowledge Proofs, and Trusted Multi-Party Compute.

EEA's standards have the potential to streamline the payments process

Ron Resnick, the Executive Director at EEA, stated that “enterprises can choose whichever trusted compute methods work best for their use case, whether it is for supply chains, banks, retail, or other large enterprise-based ecosystems.”

The EEA intends to widen its set of standards by attracting new companies from various industries to join its list of member organizations. Now, there are more than 500 companies in this list. Resnick stated that he believes that EEA's standards have the potential to streamline the payments process in chemical supply chains. 

The Blockchain standards organization published its first version of Enterprise Ethereum Client Specification back in May. Resnick has been quoted as saying:

“Without interoperability, the big players aren’t going to want to jump in, because they don’t want to be locked in to one particular vendor for a proprietary solution [...] It attracts more and more of the bigger players to come in and make a commitment, because they feel a little more safe that they’re not going to get stuck.”

The first specifics interaction focused at interoperability would “basically [be] the catapult that launches the whole ecosystem,” according to Resnick’s comments at that time.

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Disclaimer: The views and opinions expressed in this article are solely those of the author and do not reflect the official policy or position of AtoZ Markets.com, nor should they be attributed to AtoZMarkets.