🚀 EY Enhances Nightfall Blockchain with Zero-Knowledge Rollup Design
#EY #Nightfall #Blockchain #ZeroKnowledgeRollup #Ethereum #TransactionFinality #DigitalSignature #SupplyChain #Privacy #Scalability #EnterpriseApplications #OpenSource #Hyperledger #Corda #Quorum #ETH
According to Cointelegraph, the Big Four accounting firm formerly known as Ernst & Young has transitioned its enterprise-focused layer 2 blockchain, Nightfall, to a zero-knowledge rollup design. This change is aimed at providing near-instant transaction finality on the Ethereum network. EY announced on April 2 that the new source code, "Nightfall_4," simplifies the network's architecture, making it more accessible to users compared to its previous optimistic rollup-based version. The shift away from optimistic rollups eliminates the need for users to challenge potentially incorrect transactions on Ethereum and endure the challenging period, thereby accelerating transaction finality.
Zero-knowledge rollups ensure that a transaction becomes final as soon as it is added into a Nightfall block, according to EY. Paul Brody, EY's global blockchain leader, stated, "This update to version four represents a major update to Nightfall, providing the same privacy and scaling that version three enabled, but now with near-instant finality and a simplified architecture." This marks the fourth major update to Nightfall since its launch in 2019, aimed at enabling EY's business partners to transfer tokens privately using Ethereum's security while being more cost-effective than the base network. Nightfall employs technology that binds a verified identity to a public key through digital signatures to mitigate counterparty risk.
Nightfall also collaborates with EY's other primary blockchain solution, OpsChain, to offer a supply chain tracking platform for financial, logistics, and manufacturing businesses. While Nightfall's code is open source on GitHub, it remains a permissioned blockchain for EY's customer base. Competitors to EY's Nightfall include IBM-backed Hyperledger Fabric, R3 Corda, and the Consensus-built Quorum. This development underscores EY's commitment to advancing blockchain technology for enterprise applications, enhancing privacy, scalability, and transaction efficiency on the Ethereum network.#EY #Nightfall #Blockchain #ZeroKnowledgeRollup #Ethereum #TransactionFinality #DigitalSignature #SupplyChain #Privacy #Scalability #EnterpriseApplications #OpenSource #Hyperledger #Corda #Quorum #ETH
🚀 HSBC Completes Testing for Hong Kong's e-HKD+ Project
#HSBC #eHKD #HongKong #DLT #Arbitrum #Ethereum #Linea #Polygon #digitalcurrency #Hyperledger #MonetaryAuthority #ARB #ETH
According to Foresight News, HSBC has announced the completion of experimental testing for the Hong Kong Monetary Authority's e-HKD+ project. The bank conducted experiments across various public distributed ledger technology (DLT) environments, including Arbitrum, Ethereum, Linea, and Polygon, as well as its own private DLT developed on Hyperledger Besu. These efforts aim to support the Hong Kong Monetary Authority and the industry in exploring how innovative digital currencies can create value for the public in Hong Kong. Further significant results are expected to be shared later this year.#HSBC #eHKD #HongKong #DLT #Arbitrum #Ethereum #Linea #Polygon #digitalcurrency #Hyperledger #MonetaryAuthority #ARB #ETH
🚀 United Nations Revolutionizes Pension System with Blockchain Technology
#UnitedNations #PensionSystem #Blockchain #DigitalIdentity #IdentityVerification #UNJSPF #Hyperledger #BlockchainTechnology #PensionReform #GlobalPensions #Transparency #Security #Efficiency #Pilot2020 #Implementation2021 #InternationalOrganizations
According to PANews, a recent white paper from the United Nations highlights the successful reform of its pension system through blockchain technology, which is praised as the 'ultimate technology for digital identity verification.' This initiative was piloted in collaboration with the United Nations Joint Staff Pension Fund (UNJSPF) and the Hyperledger Foundation, aiming to enhance the security, efficiency, and transparency of global pension processes using blockchain digital identity infrastructure.
Previously, the UN pension system relied on a 70-year-old paper-based method to verify the identity and status of over 70,000 beneficiaries across 190 countries. This outdated system was prone to errors and abuse, resulting in approximately 1,400 payment suspensions annually. Since the pilot in 2020 and the official implementation of blockchain digital certification in 2021, the United Nations has significantly improved its management processes. Building on the success of this pilot, the UN plans to expand the system and share it with other international organizations.#UnitedNations #PensionSystem #Blockchain #DigitalIdentity #IdentityVerification #UNJSPF #Hyperledger #BlockchainTechnology #PensionReform #GlobalPensions #Transparency #Security #Efficiency #Pilot2020 #Implementation2021 #InternationalOrganizations
🚀 Morgan Stanley Seeks Blockchain Engineer to Enhance Interoperability
#MorganStanley #BlockchainEngineer #Blockchain #Hyperledger #Polygon #Canton #Ethereum #Interoperability #EnterpriseSolutions #BlockchainInnovation #FinancialInstitutions #BlockchainCareers #ETH
Morgan Stanley is actively recruiting a blockchain software engineer to spearhead projects aimed at integrating various blockchain technologies, including Hyperledger, Polygon, Canton, and Ethereum. According to NS3.AI, the position offers a salary of up to $150,000 annually, reflecting the growing institutional interest in blockchain interoperability and enterprise-grade solutions. This initiative underscores the financial institution's commitment to advancing blockchain capabilities and fostering innovation in the sector.#MorganStanley #BlockchainEngineer #Blockchain #Hyperledger #Polygon #Canton #Ethereum #Interoperability #EnterpriseSolutions #BlockchainInnovation #FinancialInstitutions #BlockchainCareers #ETH