Quorum Blockchain: A Deep Dive into Enterprise-Focused Distributed Ledger Technology

Quorum Blockchain (“Quorum”) was developed by J.P. Morgan Chase back on and it serves as one of the first major steps by an enterprise to push for the common adoption of blockchain technology among financial industries.

This followed JPMorgan’s 2019 successful launch of JPM Coin, a digital coin representing the U.S. dollar designed to facilitate instantaneous payments between institutional clients.

What is Quorum Blockchain?

Think Office-365 for the Blockchain. Quorum is an enterprised-focused, permissioned blockchain infrastructure specifically designed for financial use cases.

You have questions already, so let’s jump in.

Understanding the Infrastructure

Depending upon its cryptographic characteristics, hash functions can be applied in two different ways: password storage and data integrity.

Quorum is built off “Go Ethereum”, the base code for the Ethereum blockchain. However, Quorum differs from Ethereum in four ways:

• Infrastructure
• Data Privacy
• Consensus Mechanism - Voting-based consensus mechanisms
• Performance - Higher performance

Let’s explore each.