Ethereum-based Baseline Protocol counts over 600 corporate users

Baseline Protocol, which uses Ethereum to reconcile various corporate systems, released version 1.0 of the protocol. Since its March announcement, the project, backed by Microsoft, EY and ConsenSys, has grown to more than 600 companies.

Baseline Protocol Achieves Key Milestone with Release of v0.1 Implementation for Enterprise IT and the Ethereum Public Blockchain https://t.co/83ExD8qg6O

— John Wolpert (@jwolpert) August 26, 2020

Earlier, the project\’s developers released several proofs of concept, demonstrating the protocol\’s integration with databases such as SAP, Microsoft Dynamics and Google Sheets.

Baseline Protocol v1 provides a standard set of interfaces for developers to ease deployment. The release will enable vendors to offer their own modules that conform to the specifications.

Baseline Protocol uses Ethereum solely for hashing and ordering events—akin to middleware.

The team released the code as open source under the auspices of the nonprofit organization OASIS. This opens the door for standards development from September under the guidance of the Enterprise Ethereum Alliance\’s working group.

In an interview with CoinDesk, one of the project\’s founders, John Wolpert of ConsenSys, explained that treating enterprise blockchains as a traditional database by processing them in the network is a major misconception.

According to Wolpert, around 20 companies join the project weekly. Since March, when it began, the number has surpassed 600. One of the latest participants is Coke One North America, which uses Baseline Protocol to increase supply-chain transparency.

The reason for the growing number of partners lies in the prospect of cutting capital expenditure and other operating costs. At the same time, operational integrity is enhanced by automating business processes across multiple companies. Participants have even coined a new term, “baselining” — literally assembling into a single base.

The Baseline Protocol technical committee includes representatives from EY, Microsoft, ConsenSys, Splunk, MakerDAO, Duke University, Chainlink, Unibright, Envision Blockchain, Neocova, Core Convergence, Provide and W3BCloud.

Baseline Protocol allows data to be isolated from other participants in the system. It employs digital signatures, zero-knowledge proofs (zk-SNARKs) and other technologies. Different teams gain access to information needed at a given stage, while all other data remains hidden from them.

First results from using Baseline Protocol are expected in Q4 2020.

In January, the blockchain startup Kadena launched its eponymous hybrid blockchain platform with the capability to run smart contracts across private and public networks.

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