Corporate blockchain solutions provider Waves Enterprises has reportedly teamed up with China-based DLT firm Conflux Network, in a bid to enhance hybrid data transactions in permissioned networks.
Specifically, the partnership will reportedly enable Waves Enterprise to utilize its anchoring tech, in an effort to give firms the power to support data transfer, throughout private and public blockchains.
Anchoring is reportedly a means for storing hybrid data, which puts hashes of private data into public blockchains, ensuring it is valid at no cost of disclosing the input information itself.
The project will reportedly facilitate public chain consensus validation for private firm data, at no cost of giving up business confidentiality.
“It can be the first step in creating hybrid blockchain infrastructure that combines advantages of private networks (access control, security and performance) and public blockchains (decentralization, tokenomics, high reliability). The next could be asset swaps between chains, for example.” Artem Kalikhov, chief product officer at Waves Enterprise, reportedly remarked.
Kalikhov reportedly believed that private and public blockchains combined with traditional database systems will offer numerous perks, nominally ensuring data reliability at a greater level.
“For the successful implementation of our hybrid approach for Chinese clients and partners using our technology, we need a reliable, technologically advanced and regulatory-compliant partner in China and Conflux meets all the requirements.” Waves Enterprise’s explanation that jurisdiction such as China – which comes with strict trade secrets protection regulations – calls for a hybrid approach such as the one discussed.