EY announced the launch of the EY Ops Chain Public Edition (PE) prototype, the world's first zero-knowledge proof (ZKP) technology implementation in the Ethereum network. This technology is the first to enable companies to confidentially and securely create and sell product and service tokens on a public blockchain with private access to their transaction records.
Paul Brody, EY Global Innovation Leader, Blockchain, says:
"EY Ops chain PE is a first-of-its-kind application and a major step forward that empowers blockchain adoption. Private blockchains give enterprises transaction privacy, but at the expense of reduced security and resiliency. With zero-knowledge proofs, organizations can transact on the same network as their competition in complete privacy and without giving up the security of the public Ethereum blockchain."
EY Ops Chain PE uses ZKP technology to transfer private tokens without disrupting a consistent algorithm. This solution is the result of the development of the EY blockchain laboratories in London and Paris with the expectation of patents and supports payment tokens and unique tokens of products and services that are similar to Ethereum ERC-20 and ERC-721 tokens.
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