Ethereum Increases Odds on Becoming The First Public Blockchain On Hyperledger

There are chances that Ethereum could be the first public blockchain on Hyperledger, however, to make it happen, the firm’s technical steering committee has to approve to adopt ConsenSys-backed Pantheon project.

Pantheon allows users to create their own blockchain networks, with tailor-made permission specifications. In March 2019, BitcoinExchangeGuide had reported about the client being developed by PegaSys, a 55-strong protocol engineering team under the ConsenSys umbrella.

It is designed to allow enterprises to control the permissioning and consensus of their own blockchain networks. Unlike the public Ethereum mainnet, the Pantheon client allows node and account whitelisting, allowing users to restrict their counterparties to trusted actors that allows greater security for financial networks. With all this in place, it will significantly allow for greater security being achieved in the financial networks.

Quorum was the very first client for the Enterprise Ethereum, but the Pantheon platform has been able to use a new type of consensus mechanism that has been dubbed the Istanbul Byzantine Fault of the Tolerance 2.0. One that has been able to allow an even trade-off to take place between the level of speed and security.

The code was written in Java and aims to provide enterprises with an Ethereum client that has features such as stability, permissions and access control, privacy, ease of deployment and scalability. These are common requirements for business looking to use Ethereum in their technology stack. Using Pantheon you can send transactions, deploy smart contracts, and interact with the JSON-RPC API.

The image below shows the timeline of the development of Pantheon.

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide