What Is the Enterprise Ethereum Alliance?
The Enterprise Ethereum Alliance (or EEA) was launched in February 2017. Their board of directors brings together various start-ups, Fortune 500 companies, technology vendors, academics, and Ethereum subject matter experts to work on Ethereum blockchain technology as an enterprise-grade technology.
How the Enterprise Ethereum Alliance Works
Most efforts towards Ethereum’s scalability, privacy, or interoperability were scattered until the Enterprise Ethereum Alliances was formed.
The alliance aims to develop, promote, and support the Ethereum blockchain best practices, standards, and a reference architecture that is able to handle its real-world applications and usage.
Ethereum is a blockchain-based, decentralized software platform that enables smart contracts and Distributed Applications (ĐApps) to be built and run without any downtime, fraud, control, or interference from a third party. It is not just a platform. Ethereum is also a programming language (Turing complete) running on a blockchain that helps developers build and publish distributed applications.
Ethereum has a wide range of potential applications, which has attracted a number of companies to explore the technology. Ether, the cryptographic currency used on the Ethereum platform, is the second most popular cryptocurrency in terms of market capitalization, with an aggregate market cap in the second quarter of 2020 of around $218 billion.
