Golden
Quorum (blockchain)

Quorum (blockchain)

Quorum is distributed ledger and smart contract platform designed for enterprise applications.

Quorum is distributed ledger and smart contract platform designed for enterprise applications. This platform can be customized according to specific business needs and provides support for transaction-level privacy as well as network-wide transparency.



Quorum is based on Ethereum and is a fork of go-ethereum. Unlike Ethereum which is open and permissionless, Quorum is a permissioned (i.e. private) network. In other words, the Quorum blockchain is a distributed ledger but it is not a decentralized network because node operators are all known parties, and it therefore does not use decentralized consensus mechanisms such as proof-of-work or proof-of-stake. 



There are several performance advantages to operating permissioned networks versus permissionless ones. For example, Quorum uses raft-based consensus and Istanbul BFT (a consensus algorithm based on the Practical Byzantine Fault Tolerant Algorithm), which enable faster transaction speeds and higher throughput relative to decentralized blockchains. 



Quorum is a project of JPMorgan Chase.

Timeline

People

Name
Role
Related Golden topics







Further reading

Documentaries, videos and podcasts

Title
Date
Link

Advancing Ethereum in Permissioned Networks: Integrating PBFT into Quorum

November 26, 2017

Companies

Company
CEO
Location
Products/Services

Jamie Dimon

New York

Banking and financial services

References