Consensys announced a new deal with JP Morgan to acquire Quorum. According to the new agreement, the open-source Quorum project will be acquired and managed by Consensys. JP Morgan calls the new deal a strategic partnership.
Consensys focuses on the enterprise section of the blockchain industry. Adding Quorum to the company’s offering will help them attract more enterprise users. With more companies using blockchain as the fundamental technology, we can expect more mainstream adoption, too.
The new deal resulted in a new offering from Consensys, dubbed ConsenSys Quorum.
“ConsenSys Quorum is an open-source protocol layer that serves as a foundation for businesses to build public or private Ethereum-based enterprise solutions. ConsenSys Quorum is made up of four layers of open source codebase: client software, private transaction management, external transaction signing, and additional tooling,” according to a blog post by Consensys.
Consensys will provide support for open-source developers via a subscription-based system. Businesses and developers can also implement the multiple enterprise products of Consensys on the open-source layer. The products offer services like asset tokenization and management, payments, document management, workflow optimization, risk compliance, etc.
Consensys Quorum developers will have two options because of the new partnership. They can build products using Go programming language on GoQuorum or using Java on Hyperlefger Besu.
“The Go-based stack (previously known as “Quorum” under JPM) includes the GoQuorum client software, the Tessera private transaction manager, and the EthSigner private key manager.”
Consensys plans to offer more options for Quorum developers. Some of the planned changes cover PegaSys Orchestrate that will join the Codefi application suite as Codefi Orchestrate, and PegaSys Plus that will be replaced by ConsenSys Quorum Support.
Consensys mainly focuses on more enterprise adoption with ConsenSys Quorum. They are making new products that can be used as modules on the open-source layer. The new modules focus on multiple industry needs.
“The enterprise product modules are all compatible with the Quorum open-source layer through Codefi Orchestrate. Orchestrate enables businesses to build blockchain-powered applications by simplifying the development and connectivity of business applications with the Ethereum blockchain,” according to Consensys.
If you found this article interesting, here you can find more Blockchain and cryptocurrency news
