The Enterprise Ethereum Alliance is one of the most leading running real world productions whose software is capable of handling high speed business by managing high and complex series of task in the system. It then one of the famous companies who supports over 500 numbers of enterprises including start-ups, education institutions also the small technological companies as the Ethereum works on a unique blockchain system which only works wilth the smart contact.
In the recent events there is a ramous in London according to the blockchain expo Enterprise Ethereum Alliance (EEA) now connecting more than 450 companies which will experience the working of Ethereum. These companies will learn and know about the working and utilities of this fantastic technology which is a ground breaking discovery for the industry used cases which is address specific.
According to the public reports some number of common standards is realised by Enterprise Ethereum Alliance for later this year, this standards were imposed by Staff chief and one of the members of Enterprise Ethereum Alliance board members named Millars. It is also worth of mentioning Enterprise Ethereum Alliance nature doesn’t always fit into the technology of blockchain just like the privacy data do not always sign up with the existing policy of the privacy. The Ethereum blockchain faces some types of questions which can be technological or social or related to other things also. They are facing challenges regarding the area of DLTs.
What is Ethereum? –
It is a type of decentralized platform which is well known of its task management and also technically enhancement and it is also have a tools as distributed network which ensures that any company should not use it against another company as an abuse. It is the platform which can perfectly support making of games , applications for finance, gambling application, social networking software and almost everything which we use today in our daily life.
It is next big step in the world of web some people are calling is “web3” . One of the big plus point is that it works in a de-centralised manner which makes it unique in the compition and there is no government or authority which is charge of this platform. It work can be explained by thousand of system which are connected throughout the globe are working and while working they are verifying each other works and you will pay for the type or amount of work doing in the system. It is different from today’s internet as is works on a live data but it is also safe and secure for the contacts you have.
As it is decentralized in nature no one can access your data use it or manipulate it like the pervious internet system as the movement have access to your work and if they want they can easily manipulate your records. It is invented for the people as no one is there to disrupt your work and no one can remove your work and no one exerts control on it because you are the owner of your work not others as there is no central server every one can build their own applications. It was first developed by Vitalik Buterin in the year 2014 who works a programmer in the development of the bitcoin. He the person who has developed this ground breaking platform which is a safe and secure internet.
What is the meaning of Blockchain?
It is a very huge network of computers which keeps the calculations of the public records which are known as public ledgers. Public ledger is huge storage which contains the information of all the successful transaction after the creation of cryptocurrency. It also ensures or keeps records of the each and every wallet’s balance. In these transactions the information of the owner of wallets are encrypted with unique cryptography skills and also makes sure to keep the legitimate records. It also uses public database system called blockchain to ensure a secure and successful transaction. Due to its decentralised manner the network is spread over a huge area and the records cannot be altered. It is the network of huge number of super computers.
Working of Blockchain in Enterprise Ethereum Alliance
It works as a web of computers which is will calculate and verify millions of Data from the other system all over the globe which is connected to the network. It can be understand by a an example imagine a stadium full of people in the audience. There is many events going on that stadium like 100m race, long jump etc. These are works in the networks. Again in a event people sitting on the first row of the north east flange sitting in the sit 21, 22, 23 and 24 are having hot dog. This type of detailing is done in the network.
Many companies are now using this network to prosper as it will be fast then other networks and also it will be safe and secure for all the detailed records, transaction info and also the contact info will be much secure position. You can upload all the transactions and records details then it will verify all the information it will collect after which the transaction will be successful. It is the record of transaction which no one can manipulate as the work is verified by the system not any organisation or any company. You as a person only will be the owner of your work and you only can access all the transactions you have done regarding the payment options.
So Enterprise Ethereum Alliance also known as EEA developed the most popular open source secure blockchain network which works in a decentralised manner and for that you don’t have to worry about the manipulation and hacking to your records. Many of the large scale companies are started to use this network as this will solve the problems they are facing regarding the storage and the heat production as they have to work with a huge number of data at a time.