This article was first published on Waves Platform - Medium
Vostok and the Future of Enterprise Blockchain.
Our new project implements ideas from open blockchain ecosystems into the traditionally closed world of enterprise technology.
Blockchain and distributed ledger technology, as so-called foundational technologies, have not instantly disrupted our economies and business practices. They are taking their time to find their place and meaning in the current world. After all, we’re talking about a whole new paradigm, about decentralized technology that works without any central control, and it takes a while for the world to digest the ideas and implications of this.
Blockchain technology emerged as a way to create fully decentralized ledgers (databases), with access granted to any external participants wishing to join the network. The immense success of Bitcoin kick-started seemingly counterintuitive attempts to apply blockchains in the enterprise environment, an environment that is usually separated from the outside world and doesn’t provide free access to anybody who wishes to peek into it. Many companies worldwide are still figuring out ways to apply blockchain ideas to enterprise; the idea of “permissioned” or “administered” blockchains, which emerged around five years ago, is slowly finding its way into the real world and production-stage applications. After years of prototyping we finally see live applications; the enterprise blockchain market is estimated to reach a value of $20 billion by 2025.
Therefore the ideas behind blockchain technology are so powerful that they can be taken over to different realms and be adjusted to them. What is the future of enterprise blockchains? What ideas does our Vostok project, the enterprise DLT platform to be launched this summer, aim to bring into the world of enterprise applications?
First off we must define what permissioned blockchains essentially are. In the (hopefully not very distant) future enterprise apps will be able to run on open blockchains; unfortunately right now they ...
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Waves Platform - Medium