Pantheon by ConsenSys’ PegaSys is a New Ethereum Software Built For Business
A new software aimed for businesses is on the market. Coindesk has reported that Pantheon, a suite of ETH-based services created by PegaSys, which has a team of 50 people working together with the Ethereum studio ConsenSys is creating this new technology, which will use the Apache 2.0 open source software license and Java.
The idea was to create a service that was easy to program and that would have more freedom than the general public license (GPL), which is more widely used, could give. This could help businesses to own and to monetize the intellectual property that they are able to create using the system.
PegaSys' head of strategy, Faisal Khan, has affirmed that using the GPL in production is a bad idea because most legal departments would block the development of the program as it would cause many problems.
The main idea behind Pantheon Core was to create a new client that businesses could use to make a profit from the Ethereum public blockchain while using the standards created by the Enterprise Ethereum Alliance (EEA).
Pantheon Core was released today, October 30, at the DevCon. The tool will be compatible with application programming interfaces (APIs) and the Ethereum Virtual Machine. Also, it will be compatible with software like Geth and Parity, which are both popular in the Ethereum blockchain.
The full release will be finished with new features added new year like enhanced privacy and permission controls, both which are important for banks and other financial agencies. The company was also reported to be working together with JP Morgan, a prominent Wall Street bank, in order to understand the banking business better.
The Power of Apache 2.0
This is not the first time that Apache is targeted as a way to transform the Ethereum into something with a more permissive licensing. For instance, when Hyperledger was creating its technology, it wanted to incorporate the Apache, but the final version did not use it but it instead used the Burrow blockchain.
While Khan agrees that Sawtooth and Burrow were, indeed, very important, he believes that Apache could push forward the potential of the Ethereum blockchain and this is the main reason why he has decided to start using this technology. In fact, the company wanted to provide alternatives for the system.
According to Khan, people can use the Apache license to give other people the ability to create a module that can be integrated with others and also monetized, a model that you could create a business around.
Interoperability Is The Key
However, Pantheon Core will be a lot more than simply an Ethereum client using Apache, it is focused on being fully interoperable with other Ethereum technology. This is a key, Khan affirms, because you will get a lot in the future if you create a technology thinking about the future. With so much technology being developed all the time, being connected to other is a huge boost.
There is, as Peter Szilagyi, of the Ethereum Foundation, has pointed out, a graveyard of ETH clients. Haskell, Ruby, C++ and others are now dead. Geth and Parity, however, are alive.
In order to be alive, Khan believes that the system needs a good technology that can link with other protocols.