According to reports, the second-largest digital asset by market capitalization Ethereum will join the Hyperledger Consortium. Ethereum is set to become the first Blockchain network to join the open-source Hyperledger consortium. This is reportedly the first that a public Blockchain network is joining the Hyperledger Consortium.
The report was confirmed after the technical steering committee of the Hyperledger Consortium opted to approve a proposal to adopt the Pantheon project. The Pantheon project is based on the Ethereum Blockchain and is backed by ConsenSys.
Pantheon Project Provides Ethereum Based Services
The Pantheon project is basically designed to give a number of Ethereum-backed services that have been built by the ConsenSys’ strong engineering team known as PegaSys. The Pantheon Ethereum project sent a proposal to Hyperledger’s mailing list earlier in the month. On August 8 precisely. Thus, if this proposal is eventually accepted by the Hyperledger Consortium, Pantheon will be renamed to Hyperledger Besu.
Such a move would be similar to previous Blockchain projects including the Hyperledger Fabric by IBM and the Hyperledger Sawtooth by Intel.
Pantheon Ethereum Client Builds Enterprise-level Apps
As seen in an earlier report, the Pantheon project will reportedly be the number one ‘public’ Blockchain project that will work under the Hyperledger consortium. This means that the Pantheon code will be easily available on networks like the GitHub page. It will also be open to all developers who are contributing to the project.
Apart from running via the Ethereum Blockchain, Pantheon can also run on private networks. The initiative can run on test networks like Rinkeby, Ropsten and Görli.
It is safe to say that HyperLedger’s association with the Ethereum network is nothing new. It should be recalled that last year, in October to be precise, Hyperledger entered a collaborative process with Enterprise Ethereum Alliance. The goal was to establish common standards that will promote the Blockchain space. Hence, because the Blockchain sector remains scattered to date, the project is designed to reach a common standard. That is a standard that can serve the good of multiple industry participants.
Hyperledger Consortium Was Created by the Linux Foundation
The Hyperledger consortium was created for the purpose of developing open-sourced Blockchain by the Linux Foundation. In similar fashion, the EEA is also a 500-member standards entity that builds private business applications based on the Ethereum Blockchain network.
Both entities are of the view that the alliance between them “will allow Hyperledger developers to prepare code that is in line with the EEA specifications. Which will be certified through the EEA certification testing initiatives.” According to Brian Behlendorf who serves as Hyperledger’s executive director:
“The agreement is a two-way street. There aren’t many groups out there that are effectively following the standards set in the blockchain space. The EEA has set the standards. The question is what can we add to this momentum set by the EEA?”