The Team of ConsenSys PegaSys Releases the Pantheon Enterprise Ethereum Client
If you are looking to enjoy high-speed transaction while on the Ethereum blockchain you don’t have to wait for Casper. One of the largest workshops that are present for the blockchain technology, ConsenSys, has just gone ahead to release a very new client that is specifically geared to the facilitation of commercial and enterprise adoption.
With the new software, referred to as the Dubbed Pantheon, it easily allows the users to create their own network on the blockchain; all this has been done with the tailor-made permission specifications.
This particular client was developed by the PegaSys, one that is a 55 robust protocol and engineering team that is under the ConsenSys Umbrella.
.@PegaSysEng today announced the release of Pantheon 1.0 with permissioning and consensus features built with enterprise requirements in mind. Pantheon 1.0 allows users to create private #blockchain networks, w/ new customer support & training offerings. https://t.co/6dF0J8LGGq
— ConsenSys (@ConsenSys) February 27, 2019
The opening of Ethereum for Business
With the new offering, it has personally been aimed at the finance, different commercial industries and the supply chain, as it was explained in the press release by ConsenSys.
The commercial blockchain development, or what we could refer to as the Enterprise Ethereum, has been designed specifically to pursue the applications which would actually be ill-suited for the public mainnet.
PegaSys has gone ahead to state that the Pantheon has been designed to allow the different enterprises within the market to be able to control the consensus and the permissions of their blockchain networks.
If we are to compare with the Ethereum mainnet, with the Pantheon client it will allow for account and node whistling; thus, this will be able to enable the different users to restrict the counterparts to the trusted actors. With all this in place, it will significantly allow for greater security being achieved in the financial networks.
But this is not all as the new client will also be coming with more privacy options they can offer. With the first implementation of the Pantheon, it has been designed to work with the smart contracts that have been developed by the Aztec. It is to ensure they are providing a more scalable ZKP, also referred to as the zero-knowledge proofs.
The company will also make a few later additions that will be able to offer tools that can be used for the private transactions and privacy groups which have not yet been made available in today’s blockchain technology.
The scaling towards adoption
The process of mining has been able to secure the public blockchains at the expense of the current speed, the older clients who are in the Ethereum blockchain were able to enjoy a much higher throughput, but this was at the cost of the existing network security, the PegaSys explains.
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.
Thus, instead of having competitive mining on the network the new blocks that are established need to be signed by the 66% of the validator nodes, this is if they would like it to be added on the blockchain technology.
Just to ensure they have bootstrapped the new networks, PegaSys has stated they are also partnering with the DrumG Technologies. It is to ensure they provide them with the first distributed application that has been considered to be enterprise grade for the finance sector, one that will use the Pantheon as there blockchain protocol.
The platform has gone ahead to state that they will also be offering a full customer training and support; this is to ensure that their clients will be able to implement the enterprise-grade network successfully.
“Enterprise support will give our customers the confidence and assurance they need to run Pantheon and Enterprise Ethereum, and also help us roll out better features that enterprises need to get to production,” said PegaSys Program Director Daniel Heyman.
The new client has been made available on the Azure Marketplace, or you could get it directly through the Azure portal, all this has been achieved through a partnership that was done with Microsoft.