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Ethereum: Microsoft, presents Baseline Protocol

2020.06.12

The work is governed by the Ethereum Oasis project, managed by OASIS and funded by the Ethereum Foundation and the Enterprise Ethereum Alliance. The Baseline Protocol emerged from a project between ConsenSys and Microsoft, which used the Ethereum blockchain in the supply chain under the code name Radish34.

The protocol is intended to create a middleware solution for large companies to exchange data privately via the public Ethereum blockchain and map business processes.

The Baseline Protocol thus addresses a fundamental problem of public blockchains, namely that all stored data is public. Especially in the corporate sector this is not acceptable and is also a reason why companies have so far reviled the use of the blockchain. The Baseline Protocol is an open source initiative that solves this problem by using zero knowledge proofs to enable private business processes over the public Ethereum mainnet.

The protocol supports tokenization and decentralized financial services on the mainnet in a way that does not share corporate assets or activities with unauthorized parties and leaves corporate data secure in traditional systems. Baseline uses Ernst & Young’s Nightfall zero knowledge proof for Ethereum. Whisper is also used for secure peer-to-peer messages.

Over the last two years, we have been advancing the state of the art for private, secure transactions on public blockchains. This takes the groundwork we have built and starts filling in gaps such as enterprise directories and private business logic, so companies will be able to run end-to-end processes like procurement with strong security.

Already in October last year, Ernst & Young announced their intention to bring the Ethereum blockchain to large companies through the Nightfall project. Today’s release of the baseline protocol shows that Ernst & Young has taken a big step towards this goal. For Ethereum, this could mean widespread use in the corporate sector.

作者 : Jake Simmons