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Ethereum (ETH), EOS, and Tron (TRX) Users Will Be Able to Interact With Each Other Thanks to Loom Network

Deciding which blockchain will be most suitable for a Dapp
is the most critical choices of any developer; however, the Loom Network team
seems to have achieved the dream of interoperability that kept many developers
and enthusiasts fantasizing on social networks (and working hard to make it
happen).

In an announcement published on its official blog, the Loom Network team explains that thanks to the development of PlasmaChain, dAPPS running on Tron and EOS will be able to communicate smoothly with each other, and interact with Ethereum (the blockchain on which PlasmaChain runs).

Over the coming weeks, Loom Network will be releasing integrations for Tron and EOS into PlasmaChain – effectively allowing DApp developers to offer their DApps to users on all three chains simultaneously.

Loom’s team says they took a blockchain-agnostic approach, to develop a product that would be useful for as many users as possible, but they are aware that such a decision “is bound to ruffle a few feathers.”

Loom Network developed PlasmaChain as a “universal layer 2” that will make it possible to share data among TRX, EOS and ETH users. Image Courtesy: Loom

Although Ethereum is the second most important blockchain in the ecosystem, the growth of other DApp-oriented blockchains is undeniable. Coming up with a solution that allows developers to expose their product to users of “rival” blockchains without having to do any kind of reprogramming is a wise decision, both economically and technologically .

Bottom line is, DApp developers want the maximum number of users possible using their DApps and spending money on their services- and they’re going to gravitate toward whichever platform offers that.

The Loom Network team explains that PlasmaChain
generates a kind of common ground in which, from a user’s perspective, it is
irrelevant to decide which blockchain to use, since anybody can access the DApp
and pay with any token (ETH, EOS, TRX, or any ERC20 token). According to the
developers, PlasmaChain is a kind of “universal layer 2”.

In other words, Ethereum, EOS, and Tron users will be able
to interact as seamlessly with PlasmaChain DApps as if they were native
DApps on each of those platforms.

Loom network allows users to “make a purchase transaction on Layer 1 Ethereum, and receive the purchased game item (or other digital asset) on Layer 2. This operation takes less than 3 seconds and does not have additional costs associated.

The Loom team has not announced an official release date,
however, according to their statements, PlasmaChain should already be in a phase
of final development.

The post Ethereum (ETH), EOS, and Tron (TRX) Users Will Be Able to Interact With Each Other Thanks to Loom Network appeared first on Ethereum World News.

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Enterprise Blockchains Can Now Communicate Thanks to Ethereum (ETH)

On May 16th and amidst the conversation surrounding the Consensus Summit 2018, an organization known as the Enterprise Ethereum Alliance (EEA) released an open source, cross-platform standards-based framework to speed up business transactions by facilitating interoperabiltiy between two or more business enterprises operating on different Ethereum based blockchains.

The Enterprise Ethereum Alliance is a non-profit organization that connects Fortune 500 enterprises, startups, academics, and technology vendors with Ethereum subject matter experts. The organization aims to facilitate a collaborative environment where organizations and individuals can learn from, and build upon the Ethereum platform which has specialized in smart contracts. The aim is to come up with enterprise grade software that are capable of handling the most complex, highly demanding applications at the speed of business and on the Ethereum platform.

Once such software is the free-to-download Enterprise Ethereum Client Specification 1.0 that allows for the rise of the next decentralized internet era, Web 3.0. This version of the web will include the interoperability of originally proprietary blockchains owned and operated by the different businesses out there.

The Executive Director of the EEA, Ron Resnich, had this to say about interoperability:

The EEA’s Enterprise Ethereum Specification is the result of 18 months of intense collaboration between leading enterprise, technology and platform members within our technical committee. This EEA open-source, cross-platform framework will enable the mass adoption at a depth and breadth otherwise unachievable in individual corporate silos. With over 500 organizations as members, we anticipate great things in 2018 as EEA members work with the global development community to build, test and certify solutions to grow the ecosystem.

This means that Ethereum developers can use the new Client Specification to write code that allows for the above said private, permissioned and public Ethereum networks, to communicate. This means that Ethereum based blockchains in the various industries of banking, law, healthcare, marketing, fintech, gaming et al, can now share information and make use of it in a seamless manner.

In addition, the EEA also announced that it has plans to introduce a TestNet to further assure interoperability across member solutions. The EEA will oversee a members-only Certification Program that ensures solutions conform and interoperate with the standard, building confidence in an offering’s performance.