ConsenSys Quorum
By Consensys
ConsenSys Quorum is an enterprise-grade Ethereum platform developed by ConsenSys, a leading Ethereum software company. Quorum is designed to help businesses leverage blockchain technology for secure, scalable, and efficient operations. It offers two Ethereum clients: Hyperledger Besu for public Ethereum or permissioned networks, and GoQuorum for permissioned networks. This platform is built to meet the needs of enterprises by providing robust documentation, template examples, and tools that facilitate the rapid deployment of blockchain networks and decentralized applications (apps).
Quorum was originally developed by J.P. Morgan in 2016 as an enterprise variant of the Ethereum blockchain. In August 2020, ConsenSys acquired Quorum from J.P. Morgan, marking a significant step in the acceleration of enterprise adoption of blockchain technology. This acquisition allowed ConsenSys to merge its existing protocol engineering roadmap with Quorum, leveraging the best of both codebases and expanding its enterprise Ethereum offerings.
ConsenSys has raised substantial funding over multiple rounds. In March 2022, ConsenSys closed a $450 million Series D funding round, bringing its valuation to over $7 billion. This round was led by ParaFi Capital and included new investors such as Temasek, SoftBank Vision Fund 2, Microsoft, and others. The funding supports the hiring of new employees globally and continued reinvestment in development and tooling for the extended Ethereum ecosystem.
ConsenSys Quorum offers a range of features designed for enterprise use:
The acquisition of Quorum by ConsenSys from J.P. Morgan was a major milestone. This acquisition allowed ConsenSys to expand its enterprise Ethereum offerings and integrate Quorum with its other blockchain products, such as Codefi’s finance and commerce application suite. This strategic move has enhanced the capabilities and reach of ConsenSys Quorum in the enterprise blockchain space.
Recent updates to ConsenSys Quorum include enhancements to both mainnet and permissioned network usage. Notable features include support for the London Hard Fork, which includes EIP-1559, a new fee market mechanism for Ethereum transactions. Additionally, Quorum has introduced QBFT, a new Byzantine fault-tolerant consensus algorithm, and EthStats support for network health monitoring.
ConsenSys is known for its commitment to open-source development and the Ethereum ecosystem. The company values innovation, collaboration, and transparency. ConsenSys fosters a culture of inclusivity and community engagement, encouraging contributions from developers worldwide. This commitment is reflected in their extensive documentation, support services, and active participation in the blockchain community.
ConsenSys Quorum has a growing user base that includes enterprises across various industries such as finance, healthcare, and supply chain management. The platform is supported by a vibrant community of developers and contributors who actively participate in its development and improvement. ConsenSys also engages with its community through events, hackathons, and forums, fostering a collaborative environment for innovation.
