"It also represents the first "dual mode" use of Ethereum, enabling private, permissioned Ethereum-based systems to link with public, permissionless Ethereum, in order to achieve an element of trustworthiness that has previously been unobtainable", Ethereum co-founder Joseph Lubin noted of the deal. Steve Cerveny, Kaleido Founder, said, "If blockchain doesn't become dramatically easier to use, then companies will have to walk back their investments and our society will be far too slow in realizing blockchain's significant promise".
"Many of today's discussions around blockchain technology remind me of the classic Shimmer Floor Wax skit". But blockchain is notoriously difficult to install, and even harder to manage, so Kaleido should get lots of attention, the analyst said.
For ConsenSys, the goal is simple: build a decentralized world by conquering the complexities of blockchain for enterprises and driving seamless adoption.
The aim of Kaleido is to make it easier for enterprises to implement the blockchain technology by conquering the complexities of blockchain.
Holger Mueller, principal analyst and vice president at Constellation Research Inc., said blockchain technology appeals to many enterprises because it has key capabilities that can enable a number of next-generation application use cases.
The move will let companies uninitiated in the cryptoverse quickly embrace the space's keystone tech, blockchain, with as little friction as possible. "These private networks offer all the benefits of the underlying blockchain technology, while maintaining the necessary levels of security and performance", wrote Ale Flores, Senior Product Manager at AWS, in a blog post.
Plus, the platform offers a "state relay" between a private chain (like a chain setup by a group of enterprises) and a public blockchain. Anchoring can occur automatically at regular checkpoints to provide greater proof of confirmation over all transactions, as well as on demand for specific events such as a high-value trade.
Hyperledger and R3 are examples of private blockchain solutions. This will help enterprises connect their private blockchains to the Ethereum mainnet - something firms are increasingly demanding yet struggling to accomplish.
Kaleido is a blockchain business cloud, and enterprise is in its DNA. But Kaleido is a blockchain business cloud, and enterprise is in its DNA. Unlike many online publications, we don't have a paywall or run banner advertising, because we want to keep our journalism open, without influence or the need to chase traffic.