Will Martino Discusses JPMorgan’s Shift from Quorum to ConsenSys and the Future of Blockchain Technology

Martino on Quorum’s Journey

Will Martino, the former lead engineer of JPMorgan’s first blockchain project, Juno, has some spicy takes on the recent acquisition of Quorum by ConsenSys and the state of blockchain technology. He acknowledges the efforts made with Quorum, but hints that it may have been less of a shining knight and more of a rusty sword.

The Investment Puzzle

In a move that’s about as confusing as trying to understand your pet goldfish’s birthday party, JPMorgan has divested Quorum while simultaneously investing in ConsenSys. Martino suggests the investment may have outstripped the price tag of Quorum itself. Talk about a misunderstanding at the potluck: ‘I brought you something better than your dish, but I also had to get rid of this unwanted casserole.’

Why Quorum Didn’t Quite Cut It

Martino points out that Quorum’s technology was fundamentally limited; it just couldn’t scale as needed. Built as a private fork of Ethereum without the joy of mining, you’d expect it to run smoother than a cat on a Roomba, but alas. According to Martino:

• “EVM as a bottleneck” – The Ethereum Virtual Machine doesn’t shine as brightly in a private setting, leading to transactional troubles.
• “200-1,000 transactions per second” – That’s all Quorum could muster up before throwing in the towel.

Imagine inviting two hundred friends—and only being able to serve pizza to the first thousand!

The Broader Blockchain Landscape

Martino’s skepticism about Ethereum and its derivatives comes from witnessing numerous enterprises struggle to onboard it effectively. ‘If a giant like JPMorgan faces challenges, what’s the rest of the world to expect?’ is what he’s pitching. Without a major Ethereum player at the helm, many integrate and decide it’s like tech roulette—an uncertain gamble, with often disappointing returns.

Looking Ahead: What’s Next?

So, what does the future hold? Are we heading towards a cyber utopia or just more tools on the shelf collecting dust? Martino believes the pandemic has slowed adoptions, with real advancements likely postponed until late 2021 to 2022. As for alternatives to Quorum? He suggests:

• Kadena – A proof-of-work blockchain with sharding!
• Near – Showing potential, albeit needing to earn its stripes.

Will we see more monumental shifts? Or will we simply buckle up for another round of blockchain status quo? Only time—and software updates—will tell.