Waves Enterprises Partners With Conflux Network To Boost Hybrid Data Transactions In Permissioned Networks
Waves Enterprises Partners With Conflux Network To Boost Hybrid Data Transactions In Permissioned Networks
December 25, 2020
Waves Enterprises Partners With Conflux Network To Boost Hybrid Data Transactions In Permissioned Networks
Waves Enterprises Partners With Conflux Network To Boost Hybrid Data Transactions In Permissioned Networks
December 25, 2020

Waves Enterprises, the corporate blockchain solutions provider, has partnered with Chinese decentralized ledger technology startup Conflux Network to boost hybrid data transactions in permissioned networks.

It has been reported that the collaboration will see Waves Enterprise using its anchoring technology to allow companies to facilitate data transfer across private and public blockchains. Anchoring is a hybrid data storage method that places hashes of private data into public blockchains, ensuring its validity without revealing the input information itself.

However, such a system allows public chain consensus validation for private company data without sacrificing business confidentiality.

By Commenting on the advantages of combining private and public blockchains over traditional database systems, Artem Kalikhov, the Chief Product Officer at Waves Enterprise said that the latter approach ensures greater data reliability.

He added:

“It can be first step in creating hybrid blockchain infrastructure that combines advantages of private networks (access control, security and performance) and public blockchains (decentralization, tokenomics, high reliability). The next could be asset swaps between chains, for example.”

Waves Enterprise explained that such a hybrid approach is necessary for jurisdictions like China with strict trade secrets protection laws.

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Kalikhov said:

“For the successful implementation of our hybrid approach for Chinese clients and partners using our technology, we need a reliable, technologically advanced and regulatory-compliant partner in China and Conflux meets all the requirements.”

Thus, the collaboration is coming at a time of increasing blockchain adoption in China.

Source: Cointelegraph


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Ishita Bora

Ishita Bora is a Senior Content Creator at Digital Notice Media Labs with an experience of 1 year. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. Her interest lies in blockchain technology and cryptocurrency space, as she loves writing about blockchain and other blockchain-related articles. Currently, she is working on blockchain-based news, reviews, featured articles, and guides.