And what it means for enterprise blockchain certification
The PegaSys protocol engineering team has been heads down over the last two years delivering features at a rapid pace to make the Ethereum blockchain certification production-ready for enterprises. We designed a new consensus algorithm that guarantees fast finality, implemented a market-leading dapp to manage permissioning, and improved privacy at the protocol level of Ethereum. We will continue to be vigilant on being customer-driven, offering top-tier support for Pantheon, and building innovative features for our upcoming releases. While these will remain top priorities, we are excited to share news regarding the evolution of our Ethereum client, Pantheon.
Today, PegaSys is pleased to announce that our open source Ethereum client has been officially accepted by the Hyperledger Technical Steering Committee. The Ethereum client, Pantheon, will be renamed to Hyperledger Besu in the coming weeks. We submitted the project with the name Hyperledger Besu because “besu” (pronounced bay-soo) means base or foundation in Japanese. Blockchains are, after all, a base of data on which applications are built, and blockchain certifications should serve modern IT architectures as a foundation of trust. We see this submission as a significant milestone for both open source collaboration in the enterprise blockchain certification space and for the adoption of the Ethereum mainnet for business use cases.
Note: For the purposes of this post, I will refer to the Ethereum client as Pantheon. The name change to Hyperledger Besu will become official over the coming weeks.
Hyperledger is a global and open source collaborative effort that was created by The Linux Foundation in 2015 to advance cross-industry blockchain certification technologies. The effort includes leaders in finance, banking, Internet of Things, supply chains, and manufacturing, and has some of the foremost technology companies including IBM, Intel, and Oracle, leading projects and executing the governance process. Hyperledger has forged a brand as the default “safe” deployment platform for enterprise teams and is seen as a great home for active collaboration around new technologies. Currently there are fourteen projects under Hyperledger, and our submission makes Pantheon number fifteen.
Over the last few years, PegaSys and ConsenSys have emerged as leaders in the Ethereum ecosystem. As members of the Hyperledger community, we intend to keep advancing the standard for protocol-level development on Ethereum. Prior to this submission, the Hyperledger and Ethereum communities might have been seen as parallel, even competing, communities, but in reality, this has not been the case. Other Ethereum-based projects, such as Hyperledger Burrow, have collaborated within Hyperledger for several years. And last fall, the Enterprise Ethereum Alliance and Hyperledger joined one another’s organizations and have since collaborated on initiatives such as the token taxonomy. PegaSys is pleased to have completed the years long quest to bridge Ethereum and Hyperledger with Hyperledger Besu.
PegaSys is pleased to have completed the years long quest to bridge Ethereum and Hyperledger with Hyperledger Besu.
Contributing to Hyperledger gives PegaSys the unique opportunity to build an even stronger bridge between the Ethereum and Hyperledger communities at the codebase and developer levels. Many of the goals of the Ethereum and Hyperledger communities intertwine, including building enterprise-grade open source frameworks, fostering technical communities to engage in building blockchain certification technology, and exploring standardization opportunities across technologies. All of these goals also align with PegaSys and ConsenSys’ goals. Our hope is to encourage deeper collaboration across both communities and we believe submitting an Ethereum client to Hyperledger was the natural next step in this process. And while all of this serves as a map of exciting forward looking activity for the team inside of Hyperledger, being a world class Ethereum mainnet client remains our most fundamental priority and implementing and adhering to the Enterprise Ethereum Alliance specification will continue to guide our development.
PegaSys has weighed this decision heavily and we strongly believe that top-tier open source bodies such as the Linux Foundation and Hyperledger will expose our team to seasoned enterprise developers, along with best practices for running open source community governance. Here are the three main reasons why we thought it was in PegaSys’ and the Ethereum ecosystem’s best interest to submit the Pantheon codebase to Hyperledger:
We are committed to open source software
The Linux Foundation is one of the most respected open source foundations. Their organization has excelled at guiding open source projects with their strong governance practices. These practices will help grow Pantheon’s community, create room for new vendors to join the project, and drive standards for enterprise-readiness….