ConsenSys Acquires JPMorgan’s Quorum Blockchain – CoinDesk

by crypto journalist

In terms of how the acquisition will be integrated into the Ethereum conglomerate, from now on, JPMorgan will be a customer of ConsenSys, which is offering software support and services to projects deployed on Quorum. 

“One of the parts of taking over this technology is that we’ll be supporting JPMorgan in [its] blockchain efforts,” ConsenSys engineering manager Daniel Heyman said in an interview. “Then we’ll be able to leverage a lot of the work that JPMorgan has done that’s been internal for a long time, and support the ecosystem as other people want to use that technology.”

“As of today, JPM Coin will be built on top of ConsenSys Quorum,” said Heyman. “So while JPM Coin is 100% JPMorgan’s, we’re very excited that we’ll be supporting it as a software vendor and helping make them successful, as well as other projects like the Interbank Information Network.”

“Anyone building on Quorum will get a proper software vendor behind their technology,” said Heyman. “They’ll get a roadmap that’s very explicit publicly maintained that they can build against and move towards, and a suite of features and functionality they can now purchase to accelerate their time to market.”

Another important factor for ConsenSys is locking down interoperability between Quorum and Hyperlegder Besu. The latter is an enterprise Ethereum client built by ConsenSys engineers from the ground up to be compatible with the Ethereum public mainnet. The main elements to be aligned to make Besu and Quorum talk to each other include the consensus mechanisms, API interfaces and privacy tools, said Heyman.

“Besu will continue exactly as it is, which is part of the Hyperlegder community and not ours to control. Obviously we’re heavily invested in moving it forward,” Heyman said. “When we sell an enterprise Ethereum stack, we’re going to be calling it ConsenSys Quorum, and it will have two options: the Go Quorum–based version, or the Hyperledger Besu–based version.”

Behlendorf, a respected figure in the open-source software world, said the acquisition should make it easy for enterprises that prefer Java, or prefer the Apache 2.0 license, or even prefer to work with other Besu-based vendors, to join the various Quorum-based networks that have emerged. 

“This is textbook open-source ‘co-opetition’ at its finest, where competitors can realize they’re actually stronger working together than trying to divide a market,” said Behlendorf. “We look forward to helping ConsenSys and JPMorgan (who are both Hyperledger Premier Members) and other ecosystem members drive adoption.”

This content was originally published here.

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