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Waves Enterprise and Conflux partner to promote hybrid blockchain adoption

Corporate blockchain solutions provider Waves Enterprises has partnered with Chinese decentralized ledger technology (DLT) startup Conflux Network to boost hybrid data transactions in permissioned networks.

The participation, announced on Thursday, will see Waves Enterprise using its anchoring technology to allow companies to facilitate data transfer across private and public blockchains. Anchoring is a hybrid data storage method that places hashes of private data into public blockchains, thus ensuring its validity without revealing the input information itself. 

According to Cointelegraph, the announcement also stated that such a system allows public chain consensus validation for private company data without sacrificing business confidentiality. 

Chief product officer at Waves Enterprise, Artem Kalikhov said that the latter approach ensures greater data reliability, adding: 

“It can be 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.”

Waves Enterprise described that such a hybrid approach is necessary for jurisdictions like China with strict trade secrets protection laws. Kalikhov stated:

“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.”

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