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EY, a multinational professional services firm headquartered in London, has launched the prototype of its EY Ops Chain Public Edition (PE), which brings zero-knowledge proof (ZKP) technology to the public Ethereum (ETH) blockchain.

According to the announcement, EY Ops Chain PE allows for private token transactions without disrupting the consensus algorithm. EY notes that this technology supports both payment tokens, in addition to tokens similar to the ERC-20 and ERC-721 token standards.

This technology will ultimately allow companies to create, sell and service tokens on the public Ethereum blockchain without giving away their transaction records.

“The biggest challenge for enterprises’ blockchain adoption is the ability to on-board business partners into their private or consortium blockchain network, said¬†Paul Brody, EY Global Innovation Leader. “Using the standard, secure infrastructure of a public blockchain while keeping their transactions private, businesses greatly reduce the expensive and time consuming process of setting up private networks and on-boarding business partners one at a time.”

ETH is currently trading for $196.22 with a $20.18 billion market cap, making it the 2nd largest coin in the AltDex 100 Index (ALT100), a benchmark index for large-cap cryptocurrencies and tokens.

More:¬†EY launches the world’s first secure private transactions over the Ethereum public blockchain
Related: Coinbase Ventures Invests in Privacy Blockchain Startup StarkWare
Photo: Ed Dunens / Flickr

Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.

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