ConsenSys buys Quorum platform from JP Morgan

Wednesday 26 August 2020 11:00 CET | News

ConsenSys, a global blockchain company, has acquired Quorum, an enterprise-variant of the Ethereum blockchain developed by JP Morgan.

With the addition of Quorum, ConsenSys now offers products, services, and support for Quorum, boosting the availability of functionalities such as digital asset and document management.

JP Morgan and ConsenSys are part of Enterprise Ethereum and have a long history of collaboration after leading the creation of the Enterprise Ethereum Alliance, helping bring a Mainnet Ethereum client, Hyperledger Besu, to The Linux Foundation, and working together on industry applications built on Quorum, such as komgo and Covantis.

Since the launch of Quorum in 2016, both companies have collaborated to make Ethereum the platform of choice for enterprises building secure and customisable business networks at scale, according to the official press release.

ConsenSys will merge its existing protocol engineering roadmap with Quorum. Also, all Enterprise Ethereum protocol technology at ConsenSys will fall under the ConsenSys Quorum brand, and developers will have the option to choose their underlying technology stack. Quorum will remain open source and become interoperable with ConsenSys’ other blockchain products, such as Codefi’s finance and commerce application suite. JP Morgan will be a customer of ConsenSys’ advanced features and services deployed on Quorum.

In addition to ConsenSys’ acquisition of the Quorum, JP Morgan made a strategic investment in ConsenSys.

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Keywords: ConsenSys, Ethereum, blockchain, enterprise blockchain, Digital Asset, document management, JP Morgan, Ouorum
Categories: DeFi & Crypto & Web3
Countries: World
This article is part of category

DeFi & Crypto & Web3