NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

Ethereum Gets Another Big Development Boost From Ernst & Young

Martin Young
Martin Young
5 years ago
2 mins read
Ethereum EY

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Accounting giant Ernst & Young has just released open source code that vastly improves privacy and transaction efficiency for Ethereum. The news comes just days before the network undergoes an upgrade that further reduces costs and increases security.

EY Supercharges Ethereum Privacy

From a technical standpoint Ethereum is constantly strengthening, but that has not been reflected in token prices. There are some huge companies working with the platform and EY is among them. The accounting firm is using the public Ethereum blockchain to reinvent how businesses work together, it aims to bring ETH to enterprises.

In April this year, EY released a small development in Ethereum technology called Nightfall, which was designed for making private Ethereum transactions. According to a recent announcement, Nightfall has been upgraded to enable the first version of transaction batching, allowing up to 20 transactions at once under zero knowledge.

Zero knowledge (zk) is a cryptographic method by which one party can prove to another party that they know a value of something, without revealing any information about what it is they know. Effectively it allows transactions to be verified without revealing the transaction data.

The EY announcement added;

“This includes both batching and a new tool for reducing Merkle tree updates called (appropriately) Timber developed by the EY Blockchain research team. We promised <$1 per transaction by the end of 2019, and we nailed it by a wide margin.”

Mythos Capital founder Ryan Sean Adams acknowledged the development pointing out that it is highly cost efficient and represents a 400x improvement over their previous implementation.

EY just released open source code for Ethereum that enables 20 zero knowledge transactions on mainnet for $0.24

Private transactions

A 400x improvement

EY is one of the Big Four

Some of the biggest companies in the world already work for ETH

We're just getting started

🚀

— RYAN SΞAN ADAMS – rsa.eth (@RyanSAdams) December 5, 2019

EY’s global blockchain leader Paul Brody has grand plans for a blockchain future based on Ethereum. Earlier this year he stated;

“We believe that by 2030, more than half of all new business contracts will be done on a blockchain”

The focus is on private smart contracts and that is where Nightfall comes in. The firm aims to create enterprise transactions where clients can be secure in the knowledge that none of their data, even in an encrypted form, will ever go on the blockchain.

“The end game is enabling all the functionality of the Ethereum blockchain for enterprise users, with full privacy,” Brody added.

A New Monetary System

When questioned on the developments Adams took a step back to explain the bigger picture.

“A new money system is being invented. It operates in parallel to the traditional money system but is global, permissionless, & programmable like the internet. The big investment opportunities are in the reserve assets: BTC & ETH”

Ethereum is about to undergo the Istanbul upgrade in less than two days and this will serve as the first step before a huge upgrade to ETH 2.0 can begin.

The progress has not been reflected in token prices yet as ETH is still bearish below $150 at the moment but it is only a matter of time before the winds change for the decentralized world computer.

Image from Shutterstock
Tweet123Share196ShareSend
Martin Young
Martin Young

Martin Young

Martin is a Southeast Asia based info-tech, cyber security, and cryptocurrency analyst with 20 years working in web technology and media.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Crypto Founder Pushes Ethereum As World Reserve Asset: A Yield-Backed Store Of Value

Crypto Founder Pushes Ethereum As ‘World Reserve Asset’ – Details

Ethereum has finally broken above the critical $2,850 level, igniting momentum across the broader altcoin market. After weeks of sideways...

Sebastian Villafuerte 1 day ago
crypto scam, crypto

Happy Ending: Crypto Hacker Returns Funds From $42 Million GMX Exploit

In a positive development for the crypto community, the individual responsible for the GMX exploit accepted the platform’s bounty and...

Rubmar Garcia 1 day ago
Ethereum

Ethereum Price Breaks Through 50EMA After Rejection, ETH Dominance Sees Resurgence

The Ethereum price is once again gaining momentum and looks set to reach new highs. Crypto analyst Doctor Profit commented...

Scott Matherson 1 day ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Ethereum

Ethereum Chart Confirms Bull Flag Breakout: $3,834 Target Comes Into View

Scott Matherson 1 hour ago
Ethereum

Ethereum Breaks Critical $2,800 Level — Can Bulls Hold For Major Rally?

Semilore Faleti 2 hours ago
ETH ETF

ETH ETF inflows stijgen $320 miljoen voorbij – Ethereum koers rally onderweg?

Lars Diederiksen 10 hours ago

Premium Sponsors

Press Releases

  • アルトコイン急騰の今買うべき仮想通貨プレセール

    ...

    1 hour ago
  • 仮想通貨おすすめ|強気市場で爆発的成長が見込まれる注目のミームトークン

    ...

    1 hour ago
  • BTC最高値更新の中で注目される新たなレイヤー2プロジェクトが狙う仮想通貨1000倍の可能性

    ...

    1 hour ago
  • ビットコインが11万8,000ドルの最高値を記録する中で注目すべき仮想通貨プレセール

    ...

    1 day ago
  • 仮想通貨 おすすめ|急騰するDogwifhatとFartcoin、注目の低価格ミームコインとは?

    仮想通貨...

    1 day ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.