Edging in the direction of the general public Ethereum mainnet has at all times been a fragile enterprise, provided that banks have historically seen public blockchains as roughly radioactive, each a reputational and compliance threat. JPMorgan’s head of Onyx Digital Belongings, Tyrone Lobban, famous that the general public Ethereum chain has advanced considerably over time, from the proof-of-work consensus mechanism to proof-of-stake. (The previous is extra energy-intensive and has made Bitcoin a bete noire of environmentalists, giving ESG-conscious banks purpose to favor the latter.) Plans so as to add higher scaling know-how and a number of knowledge layers on Ethereum might additionally cater to the wants of enterprises over time, he mentioned.
