Ethereum Group Gains Momentum
A month after Enterprise Ethereum Alliance officials first announced the formation of its technical steering committee and initial working groups, contributions from the open-source community are starting to ramp up.
Since the project’s official launch earlier this year, it has grown to approximately 150 members that span multiple industry verticals, including some of the largest global banks.
“We’re seeing a considerable uptick in demand from our clients to build applications on Ethereum and Quorum following the launch of the EEA,” Dhyan Raj, principal, technology at Synechron, told Markets Media. “It shows that the group’s focus on making this platform fit for purpose for the enterprise is resonating with financial services firms.”
The technology consultancy, which is a member of the EEA’s banking working group, has contributed Quorum Maker development tool, according to company officials.
“When companies like Synechron open source tools they have built to speed their Quorum application development process, the entire Enterprise Ethereum community benefits,” said Amber Baldet, chairperson of the EEA’s banking working group and blockchain program lead at J.P. Morgan, in a prepared statement. “Community driven development is still new to the financial services industry, and Synechron’s leadership sets a great example for how collaboration accelerates innovation.”
The utility can auto-configure a Quorum network through the use of a QA wizard, according to Raj.
“Doing the same processes manually can take days or longer, depending on the resources of individual firms for their projects,” he said. “The tool allows for faster, more nimble and error-free development work, which is critical in the developing applications and networks.”
Synechron also plans to contribute additional internally developed tools to the EEA community in the coming months.
“We feel that open sourcing tools to the developer community will be what helps blockchain platforms and applications continue to grow,” he added.
The network is driving adoption of standardized post-trade swap data models and workflows.
The market maker will contribute real-time crypto market data before expanding into equities.
Pyth is built on a blockchain to handle receipt and distribution of fast-moving data.
Interoperability with current capital markets infrastructure is a challenge.
Investors have more understanding on the operational side of crypto markets.