EY has partnered with the Polygon network to release a system on Ethereum’s public blockchain to shield businesses from making the content of their transactions public.
Called Nightfall, EY’s project has been in development for the past five years. Recently, EY announced that Nightfall is now in the last stage of production and is almost ready to be deployed via Polygon.
The most recent upgrades for Nightfall turned its code completely decentralized, allowing it to be operated from any location without having a particular entity in charge. These updates occurred by adding the X.509 ID certificates, which are standard for the industry. According to EY’s Global Blockchain Leader, following the final updates, project Nightfall is set to go live in May 2023.
According to him, EY currently works with a beta version for the ongoing supply chain development and the company expects to showcase the completed product during its Global Summit in May 2023. EY partnered with Polygon in September 2022 to work on Nightfall with the goal to leverage the public Ethereum network’s power for major companies. To make ETH more appealing in regard to data privacy, the project introduces zero-knowledge proofs, a technology that allows secret sharing, which can make transaction content hidden on the blockchain.