What is Enterprise Ethereum Alliance (EEA)?
Let's find out Enterprise Ethereum Alliance (EEA) meaning, definition in crypto, what is Enterprise Ethereum Alliance (EEA), and all other detailed facts.
EEA brings together a diverse mix of technology corporations, financial institutions, start-ups, and academics with the purpose of promoting Ethereum technology and generating new business possibilities throughout the globe.
In other words, it is a global industry that focuses on ways to drive the use of Ethereum blockchain technology as an open standard to empower different organizations.
The members include:
- JPMorgan Chase
- Microsoft
- Intel
- Accenture
- EY
- BP
The alliance is based in the U.S. and has offices in Japan, China, and France.
Furthermore, the Enterprise Ethereum Alliance arose as a result of the dispersion of efforts to make Ethereum accessible, secure, and interoperable. It develops, maintains, and promotes industry standards, protocols, and a framework for Ethereum blockchain technology that is able to manage practical applications and utilization.
Members of the alliance have created a forum where they may exchange their knowledge and work to ensure the wide adoption of Ethereum by mainstream actors.
The EEA's functioning is based on four major factors - knowing business rules, developing quality requirements to fulfill these necessities, advancing with the public Ethereum blockchain, and attaining worldwide compatibility through certification processes.
In addition, blockchain offers the ability to tokenize several assets as well as real-world products. For instance, university degrees could be tokenized as a way of ensuring that there will be no fraud. Health records could also use additional security.
However, Ethereum technology is still in its initial phases and will have to face numerous legal and functional challenges before it can be used for business operations.
Despite this, engineers are currently working on adjusting and upgrading this blockchain as well as transforming it into a proof-of-stake network. This could refer that the network could manage a bigger amount of transactions per second than at the moment.
Besides, the Enterprise Ethereum Alliance (EEA), which was founded in February 2017, gathers up a diverse group of organizations, technology suppliers, academia, and Ethereum content specialists to collaborate on Ethereum as an enterprise-grade platform.
An epoch may also refer to the time it takes to complete a specified amount of blocks on the blockchain. Epochs may vary depending on the specific blockchain protocol.<\/p>\n<p>The <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//buy-ethereum-eth/">Ethereum (ETH)<\/strong><\/a> protocol has determined an epoch as the time to add 30,000 blocks to the chain. The overall length depends on the pace of transaction processing and agreements. The pace of an epoch averages at about 100 hours.<\/p>\n<p>In the Cardano (ADA) blockchain system, an epoch is defined as a time unit. Cardano relies on a customized <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-proof-of-stake-pos/">Proof-of-Stake (PoS)<\/strong><\/a> consensus algorithm known as <strong>Ouroboros Praos<\/strong>. The algorithm segments the blockchain into epochs of five days. The epochs are divided into separate slots of 20-second intervals. Every epoch has 432,000 slots, the equivalent of five days, available.<\/p>","definition":"in computer science, a run of algorithmic training of a dataset; in crypto, a specific period of time.","status":"published","meta_title":"What is Epoch? Definition & Meaning | Crypto Wiki","meta_description":"Epoch meaning: Epoch - in computer science, a run of algorithmic training of a dataset; in crypto, a specific period of time.","meta_keywords":null}" :prev-section="{"id":862,"wikipedia_url":"https:\/\/en.wikipedia.org\/wiki\/Blockchain","level":"easy","author_id":1,"created_at":"2023-06-19T06:59:01.000000Z","updated_at":"2023-12-01T03:50:04.000000Z","slug":"what-is-enterprise-blockchain","title":"What is Enterprise Blockchain?","section":"E","keyword":"Enterprise Blockchain","content":"<p><strong>Enterprise Blockchain<\/strong> is a term used to describe <strong>a blockchain that's based on <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-distributed-ledger-technology-dlt/">distributed ledger technology (DLT)<\/a> whose main purpose is to increase the efficiency of a company or business<\/strong>.<\/p>\n<p>As we’re moving more and more aspects of our life into the digital world, it’s becoming especially important for modern businesses to consider how they will cross the divide between the physical and digital world as well. Blockchains are considered to be one of the solutions to this issue. <\/p>\n<p>Companies that utilize blockchain distributed ledger technology will efficiently deal with issues that come from data silos and face minimal problems when scaling.<\/p>\n<p>Blockchains are entirely transparent and offer the tools needed for managing and controlling digital assets such as digitalization, <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-tokenize/">tokenization/strong>/a>, or programmatic trade systems.<\/p>\n<p>An enterprise blockchain can be either public or private. However, a <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-private-blockchain/">private blockchain<\/strong><\/a> network is the most popular choice among most businesses. The main reasons behind this choice are the features that <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-public-blockchain/">public blockchain<\/strong><\/a> networks are not able to provide such as:<\/p>\n<ul>\n<li>Enhanced privacy;<\/li>\n<li>Low <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-transaction-fee/">transaction fees<\/strong><\/a>;<\/li>\n<li>Consistent transaction speeds.<\/li>\n<\/ul>\n<p>In essence, any organization is able to implement the blockchain network into their system, however, not every organization will be able to maximize its gains. For instance, companies that deal with large amounts of data will receive greater benefits than small institutions that mostly operate offline. <\/p>\n<p>While public blockchain environments may not be suitable for a business that deals with a high volume of transactions, they offer token protocols as well as <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-are-decentralized-applications-dapps/">decentralized applications (DApps)<\/strong><\/a>.<\/p>","definition":"is a type of permissioned blockchain that\u2019s designed for the specific needs of a business.","status":"published","meta_title":"What is Enterprise Blockchain? Definition & Meaning | Crypto Wiki","meta_description":"Enterprise Blockchain meaning: Enterprise Blockchain - is a type of permissioned blockchain that\u2019s designed for the specific needs of a business.","meta_keywords":null}" :model="{"id":313,"wikipedia_url":"https:\/\/en.wikipedia.org\/wiki\/Ethereum#History","level":"medium","author_id":1,"created_at":"2023-06-19T06:58:59.000000Z","updated_at":"2023-12-01T03:58:08.000000Z","slug":"what-is-enterprise-ethereum-alliance-eea","title":"What is Enterprise Ethereum Alliance (EEA)?","section":"E","keyword":"Enterprise Ethereum Alliance (EEA)","content":"<p>EEA brings together a diverse mix of technology corporations, financial institutions, start-ups, and academics with the purpose of promoting <a href=https://www.bitdegree.org/"//crypto//buy-ethereum-eth/">Ethereum/strong>/a> technology and generating new business possibilities throughout the globe.<\/p>\n<p>In other words, it is a global industry that focuses on ways to drive the use of Ethereum blockchain technology as an open standard to empower different organizations. <\/p>\n<p>The members include:<\/p>\n<ul>\n<li>JPMorgan Chase<\/li>\n<li>Microsoft<\/li>\n<li>Intel<\/li>\n<li>Accenture<\/li>\n<li><strong>EY <\/strong><\/li>\n<li>BP<\/li>\n<\/ul>\n<p><em>The alliance is based in the U.S. and has offices in Japan, China, and France.<\/em><\/p>\n<p>Furthermore, the Enterprise Ethereum Alliance arose as a result of the dispersion of efforts to make Ethereum accessible, secure, and interoperable. It develops, maintains, and promotes industry standards, protocols, and a framework for Ethereum blockchain technology that is able to manage practical applications and utilization.<\/p>\n<p>Members of the alliance have created a forum where they may exchange their knowledge and work to ensure the wide adoption of Ethereum by mainstream actors.<\/p>\n<p>The EEA's functioning is based on four major factors - knowing business rules, developing quality requirements to fulfill these necessities, advancing with the public Ethereum blockchain, and attaining worldwide compatibility through certification processes.<\/p>\n<p>In addition, blockchain offers the ability to <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-tokenize/">tokenize/strong>/a> several assets as well as <strong>real-world products<\/strong>. For instance, university degrees could be tokenized as a way of ensuring that there will be no fraud. Health records could also use additional security.<\/p>\n<p>However, Ethereum technology is still in its initial phases and will have to face numerous legal and functional challenges before it can be used for business operations.<\/p>\n<p>Despite this, engineers are currently working on adjusting and upgrading this blockchain as well as transforming it into a <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-proof-of-stake-pos/">proof-of-stake/strong>/a> network. This could refer that the network could manage a bigger amount of transactions per second than at the moment.<\/p>\n<p>Besides, the Enterprise Ethereum Alliance (EEA), which was founded in February 2017, gathers up a diverse group of organizations, technology suppliers, academia, and Ethereum content specialists to collaborate on Ethereum as an enterprise-grade platform.<\/p>","definition":"EEA is a crowd of businesses and organizations that collaborate on upgrading the Ethereum network.","status":"published","meta_title":"What is Enterprise Ethereum Alliance (EEA)? Definition & Meaning | Crypto Wiki","meta_description":"Enterprise Ethereum Alliance (EEA) meaning: Enterprise Ethereum Alliance (EEA) - EEA is a crowd of businesses and organizations that collaborate on upgrading the Ethereum network.","meta_keywords":null,"author":{"id":1,"user_id":1,"created_at":"2023-05-03T14:30:55.000000Z","updated_at":"2023-05-11T07:18:20.000000Z","title":"Editor-In-Chief","slug":"aaron-s-editor-in-chief","description":"<p>Having completed a Master’s degree on Economics, Politics & Culture for the East Asia region, Aaron has written scientific papers with a comparative analysis of the differences between US’ Western and Japan’s Collective forms of capitalism, 1945-2020.<\/p>\n<p>With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.<\/p>\n<p>Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.<\/p>\n<p>Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.<\/p>","user":{"id":1,"first_name":"Aaron","last_name":"S.","email":"aaron@bitdegree.org","email_sanitized":"aaron@bitdegree.org","email_verified_at":"2023-12-01T09:40:20.000000Z","must_verify_email":false,"is_registered_with_wallet":false,"status":"active","country":"LT","last_connected_ip":"88.119.132.125","image_id":2641,"referral_token":"05TMu2NysXOCn525","referred_by":null,"created_at":"2023-05-03T14:30:55.000000Z","updated_at":"2024-01-09T15:22:21.000000Z","full_name":"Aaron S."}}}" :chapter-list="[{"id":1,"title":"Blockchain","slug":"blockchain","updated":null,"chapter":"crypto\/assets\/crypto-book\/chapters\/learn-blockchain.jpg","chapter_simple":"crypto\/assets\/crypto-book\/chapters-simple\/blockchain-101.jpg","rating":100,"sections":[{"chapter_id":1,"order":1,"slug":"what-is-blockchain","title":"What is the Blockchain?","status":"published","modified_content":null},{"chapter_id":1,"order":2,"slug":"decentralized-blockchain","title":"Anonymous & Decentralized Blockchains: The Cornerstone of Crypto","status":"published","modified_content":null},{"chapter_id":1,"order":3,"slug":"blockchain-transaction","title":"What is a Blockchain Transaction in Crypto?","status":"published","modified_content":null},{"chapter_id":1,"order":4,"slug":"crypto-fees","title":"The Different Types of Crypto Fees Explained","status":"published","modified_content":null},{"chapter_id":1,"order":5,"slug":"what-is-bridging-in-crypto","title":"The Key Notion Behind the Concept of Bridging in Crypto","status":"published","modified_content":null},{"chapter_id":1,"order":6,"slug":"types-of-blockchains","title":"Different Types of Blockchains: What to Look Out For?","status":"published","modified_content":null}]},{"id":2,"title":"Cryptocurrencies","slug":"cryptocurrencies","updated":null,"chapter":"crypto\/assets\/crypto-book\/chapters\/learn-cryptocurrencies.jpg","chapter_simple":"crypto\/assets\/crypto-book\/chapters-simple\/cryptocurrencies-101.jpg","rating":100,"sections":[{"chapter_id":2,"order":1,"slug":"what-is-a-cryptocurrency","title":"What is a Cryptocurrency?","status":"published","modified_content":null},{"chapter_id":2,"order":2,"slug":"how-does-cryptocurrency-work","title":"How Does Cryptocurrency Work?","status":"published","modified_content":null},{"chapter_id":2,"order":3,"slug":"is-cryptocurrency-a-good-investment","title":"Is Cryptocurrency a Good Investment? The Pros & Cons","status":"published","modified_content":null},{"chapter_id":2,"order":4,"slug":"coin-vs-token","title":"Coin VS Token: How Do They Differ?","status":"published","modified_content":null},{"chapter_id":2,"order":5,"slug":"what-are-stablecoins","title":"What are Stablecoins, Altcoins & Wrapped Coins?","status":"published","modified_content":null},{"chapter_id":2,"order":6,"slug":"what-is-a-bitcoin","title":"Bitcoin: the Pioneer of the Crypto World","status":"published","modified_content":null},{"chapter_id":2,"order":7,"slug":"what-is-ethereum","title":"The Ultimate Blockchain for dApp Creation: Ethereum","status":"published","modified_content":null},{"chapter_id":2,"order":8,"slug":"what-is-cardano-in-crypto","title":"What is Cardano and What is It Used For?","status":"published","modified_content":null},{"chapter_id":2,"order":9,"slug":"what-is-shiba-inu-coin","title":"Shiba Inu: the Dogecoin 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Standards","status":"published","modified_content":null},{"chapter_id":3,"order":5,"slug":"how-to-buy-crypto","title":"From Fiat to Crypto: How to Buy Crypto for the First Time","status":"published","modified_content":null},{"chapter_id":3,"order":6,"slug":"fiat-to-crypto","title":"Taking Profits: Turning Crypto Into Fiat","status":"published","modified_content":null},{"chapter_id":3,"order":7,"slug":"how-to-use-crypto","title":"You\u2019ve Got Crypto: What Can You Do With It?","status":"published","modified_content":null}]},{"id":4,"title":"Crypto Wallets","slug":"crypto-wallets","updated":false,"chapter":"crypto\/assets\/crypto-book\/chapters\/learn-crypto-wallets.jpg","chapter_simple":"crypto\/assets\/crypto-book\/chapters-simple\/crypto-wallets-101.jpg","rating":80,"sections":[{"chapter_id":4,"order":1,"slug":"what-is-a-crypto-wallet","title":"What is a Crypto Wallet?","status":"published","modified_content":null},{"chapter_id":4,"order":2,"slug":"hot-wallet-vs-cold-wallet","title":"Hot Wallet VS Cold Wallet: Which One to Pick?","status":"published","modified_content":null},{"chapter_id":4,"order":3,"slug":"non-custodial-wallet","title":"What are Non-Custodial Crypto Wallets?","status":"published","modified_content":null},{"chapter_id":4,"order":4,"slug":"what-is-metamask","title":"Metamask: The Leading Non-Custodial Wallet","status":"published","modified_content":null},{"chapter_id":4,"order":37,"slug":"how-safe-is-cryptocurrency","title":"The Key Crypto Wallet Safety Practices: How Safe Can Crypto Be?","status":"published","modified_content":null}]},{"id":5,"title":"NFTs","slug":"nfts","updated":null,"chapter":"crypto\/assets\/crypto-book\/chapters\/learn-nfts.jpg","chapter_simple":"crypto\/assets\/crypto-book\/chapters-simple\/nfts-101.jpg","rating":100,"sections":[{"chapter_id":5,"order":2,"slug":"how-to-trade-nfts","title":"NFT Trading: The Ins and Outs","status":"published","modified_content":null},{"chapter_id":5,"order":3,"slug":"buying-nft","title":"Tips and Tricks of Choosing the Right NFTs","status":"published","modified_content":null},{"chapter_id":5,"order":4,"slug":"how-to-store-nft","title":"How to Store NFTs: Best Practices","status":"published","modified_content":null},{"chapter_id":5,"order":5,"slug":"how-to-create-an-nft","title":"How to Create Your Own NFTs?","status":"published","modified_content":null},{"chapter_id":5,"order":6,"slug":"how-to-make-passive-money-with-nft","title":"Making Passive Money with NFTs","status":"published","modified_content":null}]},{"id":6,"title":"dApps & Defi","slug":"dapps-and-defi","updated":true,"chapter":"crypto\/assets\/crypto-book\/chapters\/learn-dapps.jpg","chapter_simple":"crypto\/assets\/crypto-book\/chapters-simple\/dapps-defi-101.jpg","rating":80,"sections":[{"chapter_id":6,"order":1,"slug":"what-are-nfts","title":"What are Non-Fungible Tokens (NFTs)?","status":"published","modified_content":null},{"chapter_id":6,"order":1,"slug":"what-is-defi","title":"What is Decentralized Finance (DeFi)?","status":"published","modified_content":null},{"chapter_id":6,"order":2,"slug":"what-is-defi-2-0","title":"DeFi 2.0: The New Version of Decentralized Finance","status":"published","modified_content":null},{"chapter_id":6,"order":3,"slug":"what-are-dapps-in-crypto","title":"What Are dApps and How Do They Work?","status":"published","modified_content":null},{"chapter_id":6,"order":4,"slug":"defi-dapps","title":"Picking the Right dApps: Dos and Don'ts","status":"published","modified_content":null},{"chapter_id":6,"order":5,"slug":"what-is-web-3-0","title":"Web 3.0: The Future of the Internet","status":"published","modified_content":null},{"chapter_id":6,"order":6,"slug":"what-are-smart-contracts","title":"What is the Core Purpose of Smart Contracts?","status":"published","modified_content":null},{"chapter_id":6,"order":7,"slug":"what-is-a-dao-in-crypto","title":"The Notion of a Decentralized Autonomous Ogranization (DAO)","status":"published","modified_content":null},{"chapter_id":6,"order":8,"slug":"what-is-staking-in-crypto","title":"What is the Goal of Staking Crypto Assets?","status":"published","modified_content":null},{"chapter_id":6,"order":9,"slug":"what-is-liquidity-pool-in-crypto","title":"What is a Liquidity Pool and How Does It Work?","status":"published","modified_content":null},{"chapter_id":6,"order":10,"slug":"what-is-automated-market-maker","title":"Automated Market Maker: the Cornerstone of the Decentralized Crypto Exchange Industry","status":"published","modified_content":null},{"chapter_id":6,"order":11,"slug":"what-is-yield-farming-in-crypto","title":"The Main Yield Farming 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Tokens?","status":"published","modified_content":null},{"chapter_id":8,"order":5,"slug":"how-to-research-crypto","title":"Crypto Research Fundamentals & Social Signals: Your Daily Trading Strategy","status":"published","modified_content":null},{"chapter_id":8,"order":46,"slug":"portfolio-diversification-definition","title":"Portfolio Diversification: The Whats, the Whys, and the Hows","status":"published","modified_content":null}]},{"id":9,"title":"Mining","slug":"mining","updated":false,"chapter":"crypto\/assets\/crypto-book\/chapters\/learn-crypto-mining.jpg","chapter_simple":"crypto\/assets\/crypto-book\/chapters-simple\/crypto-mining-101.jpg","rating":80,"sections":[{"chapter_id":9,"order":1,"slug":"what-is-crypto-mining","title":"Crypto Mining: What It is and How Does It Work?","status":"published","modified_content":null},{"chapter_id":9,"order":2,"slug":"what-is-a-mining-pool","title":"Mining Pools: Is Collective Mining Better Than Solo Mining?","status":"published","modified_content":null},{"chapter_id":9,"order":3,"slug":"what-is-staking-crypto","title":"An Advanced Look into What is Staking Crypto","status":"published","modified_content":null},{"chapter_id":9,"order":4,"slug":"what-is-proof-of-stake-vs-proof-of-work","title":"Proof-of-Work VS Proof-of-Stake: The Differences That Matter","status":"published","modified_content":null},{"chapter_id":9,"order":5,"slug":"what-is-crypto-mining-rig","title":"Crypto Mining Rig: What It is and How to Build One?","status":"published","modified_content":null}]},{"id":10,"title":"Crypto Terms","updated":false,"chapter":"crypto\/assets\/crypto-book\/chapters\/crypto-101-glossary.jpg","chapter_simple":"crypto\/assets\/crypto-book\/chapters-simple\/crypto-glossary-101.jpg","rating":100,"sections":["A","B","C","D","E","F","G","H","I","J","K","L","M","N","O","P","Q","R","S","T","U","V","W","X","Y","Z"]}]" current-chapter="E" current-section="what-is-enterprise-ethereum-alliance-eea">