LatamLink will combine Besu, EOSIO and ConsenSys technologies to develop LACChain system


LatamLink Latin American Alliance will combine Besu, EOSIO and ConsenSys technologies to develop the LACChain system, intended for use at the state and corporate levels.

LatamLink was formed by EOS Costa Rica, EOS Argentina and EOS Venezuela block manufacturers for the expanded implementation of the EOS blockchain in Latin America. In addition, the Inter-American Development Bank (IDB), as well as private and public organizations in Latin America and the Caribbean, contributed to the creation of the ecosystem.

Startup ConsenSys, working on the development of the Ethereum ecosystem, also did not stand aside. Last year, a Besu test network was installed in LACChain to create an infrastructure that would allow the use of blockchain for public procurement, registration of land and the implementation of social programs.

Edgar Fernández, founder of EOS Costa Rica, announced his readiness to launch the LACChain test network to test how the two technologies will interact with each other – EOSIO and Ethereum. Fernandez emphasized that testing LACChain should not be considered as a competition operating on the principle of “the winner gets everything”, and at the end of which a specific blockchain for the main network will be selected. On the contrary, we are talking about the interaction of different protocols. 

For some applications and use cases, LACChain will use Ethereum, while others will work better with EOSIO. ConsenSys spokeswoman Kara Miley believes that if LACChain becomes the “gold standard” to bring blockchain to IDB, government and the private sector, billions of people around the world can use ConsenSys technology.

“This is not a race between the protocols. We do not check which one works better or worse, processes transactions per second more, or provides a higher level of privacy. LACChain is an independent collaboration platform where different projects can realize their mission, ”said Marcos Allende, LACChain Technical Director.

Allenda added that the LACChain system was previously tested with the Quorum financial blockchain developed by JPMorgan Chase, but there were a lot of problems using it. Tests were then conducted with IBM’s Hyperledger Fabric, which revealed that Ethereum and EOSIO-based developments are best suited for the LACChain project.

Fernandez noted that EOSIO specialists could create a “Latin American blockchain” so as not to depend on North America, Asia or Europe. However, Allenda said that even if the LatamLink developers were from the United States, this would not change their attitude.

Recall that in February, JPMorgan Chase began negotiations to merge its blockchain-based Quorum division with ConsenSys startup.

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