Corporations Going Mainnet, Hyperledger Unanimously Approves First Ethereum Client Integration

According to a report by Forbes, the Hyperledger consortium which works to bring blockchain to enterprises has accepted its first code that aims linking businesses directly to the Ethereum blockchain. Hyperledger Besu, as the open-source codebase is called, is similar to another existing Ethereum enterprise solution, called Pantheon, which was developed by ConsenSys, an Ethereum startup and which has been running since April 2019.

Betmatch

Meet Hyperledger Besu, First Ethereum Client Integration

The vote was passed unanimously after some serious debate to clarify whether or not Hyperledger was programmed to increase by adding new codebases or assemble into a more unified offering.

According to the report by Forbes, Hyperledger Besu and pantheon have some important difficulties. Since the approval by the Hyperledger Technical Steering Committee, the new Ethereum client will get support to train new users, certification of developers that work with high-stakes enterprises, and will be easily incorporated with already existing codebases, maybe easing the path to adoption by making sure that companies on potentially competing networks can work together.

According to Grace Hartley, a ConsenSys operation lead,

CryptoMarketapp

“Historically, we have seen more demand for the permissioned networks because of the different features enterprises don’t want to share…But we’re seeing now, and we think Hyperledger will be a part of this, that the mainnet compatibility will become more of a player for enterprise use cases.”

Altogether making a team of about 56 members consisting of 30 PegaSys team members and 20 other Brooklyn-based ConsenSys full-time employees, Besu was built by the set of co-workers acting as an independent startup. Other consortium members including JP Morgan engineering lead, Samer Marwah as well as Red Hat senior engineer, Mark Wagner also co-sponsored Besu.

Besu claims to address some privacy concerns historically expressed by enterprises in the event that cogent and valuable information gets leaked to the public while using public blockchain technology like Ethereum to execute their transactions. This is made possible with a new permissioning system which allows users have control over who can gain access to a network, privacy features that temporarily move some transactions away from the public blockchain, and also by giving users the choice to settle transactions on the public blockchain or using a private consensys system.

Summary
Hyperledger Unanimously Approves First Ethereum Codebase For Enterprises
Article Name
Hyperledger Unanimously Approves First Ethereum Codebase For Enterprises
Description
Hyperledger Unanimously Approves First Ethereum Codebase For Enterprises
Author
Dare Shonubi
Publisher Name
Coingape
Publisher Logo
DisclaimerThe presented content may include the personal opinion ofthe author and is subject to market condition.Do your market research before investing in cryptocurrencies.The author or the publication does not hold any responsibilityfor your personal financial loss.
Share on Facebook
Share on Twitter
Share on Linkedin
Share on Telegram

Related:

  • No Related Posts

Ethereum Client Becomes First Public Blockchain Project on Hyperledger

Hyperledger has officially adopted its first public blockchain project in the form of ConsenSys’ Pantheon.

The Hyperledger technical steering committee approved Pantheon’s addition Thursday morning, renaming the initiative to Hyperledger Besu (a Japanese term for base or foundation). Pantheon was first proposed as a potential new member of the consortium on Aug. 8, joining the likes of Hyperledger Fabric (which IBM has supported) and Hyperledger Sawtooth (backed by Intel).

Pantheon includes a suite of ethereum-based services built by PegaSys, an engineering team at ConsenSys. These services can operate on top of ethereum’s public, private and test networks. Grace Hartley, strategy and operations associate at PegaSys, said Pantheon is ConsenSys’ only ethereum client in its suite of open-source projects.

Related:Santiago Stock Exchange to Partner in Blockchain Alliance

“We’ve always wanted to be a gateway for enterprises to public chains while also meeting the needs of private and permissioned networks,” Hartley told CoinDesk. “I think this is a good step in that process.”

Now the Hyperledger staff will work with ConsenSys to transfer Pantheon’s GitHub repository to the consortium and set up email lists and chat channels connected to the project. In recent months, ConsenSys has also donated ConsenSys CAVA to the Apache Software Foundation, which is now being incubated as Apache Tuweni.

“I expect it to be a pretty easy process,” said Brian Behlendorf, executive director of Hyperledger. “It’s already a very active open source project. Before it joined Hyperledger, it had its own life with external contributors working on it.”

Pantheon is interested in finding ways to potentially collaborate with Hyperledger Burrow, a modular blockchain client with a permissioned smart contract interpreter partially developed to the specification of the Ethereum Virtual Machine (EVM), Hartley said.

Related:Ethereum Poised to Be First Public Blockchain in Hyperledger Consortium

The Pantheon team is also interested in finding “cross-chain opportunities” with Tendermint, Burrow’s consensus algorithm, and in collaborating with Hyperledger Quilt because of its interledger protocol.

Hyperledger’s foray into ethereum began with Burrow, and the consortium has partnered with the Enterprise Ethereum Alliance to collaborate on common standards for the blockchain space. Hyperledger has also received a proposal from the Trusted Compute Framework, a project that follows the EEA’s standards regarding secure enclaves and other privacy approaches.

ConsenSys has been thinking about adding Pantheon to Hyperledger for the last several months, Hartley said. The company chose Pantheon because of its open-source license and its ability to build enterprise applications on the mainnet. The project’s most active users are within the financial services industry and use it especially for settlement and digital asset use cases.

“We’re eager to include the ethereum community especially when it comes to something like support for private transactions or support for smart contracts that run in a lot of different places,” Behlendorf said, adding:

“What’s going on in ethereum is something that other public blockchains should be tracking. Maybe solidity or an EVM programming language becomes more of the standard.”

Part of the requirements for projects looking to join Hyperledger is to be open-source under the Apache license or re-licensed as Apache. ConsenSys Open Source Chef Jim Jagielski co-founded the Apache Software Foundation with Behlendorf and others.

“The PegaSys team has been a quick study,” Behlendorf said. “A few folks on their team have been a part of other open-source projects.”

Brian Behlendorf image via CoinDesk archives

Related Stories

Related:

  • No Related Posts

Hyperledger Adopts ConsenSys’ Pantheon Project

Media TeamAugust 29, 2019 4:15 PM
August 29, 2019 4:15 PM
0

Share

Facebook
Twitter
Reddit
LinkedIn
Cancel

Pantheon, a ConsenSys spoke that works to provide a suite of Ethereum-based services, has officially been adopted by Hyperledger’s technical steering committee, reportedly making it one of the first public blockchain projects to be taken on by the consortium.

Read the full article here.

Media Team

The media team is the collaborating entirety of the writing staff at ETHNews.

ETHNews is committed to its Editorial Policy

Like what you read? Follow us on Twitter @ETHNews_ to receive the latest Ethereum, Hyperledger or other Ethereum ecosystem news.

Ethereum
Hyperledger
ConsenSys
Pantheon

Related:

  • No Related Posts

Ethereum Client Becomes First Public Blockchain Project on Hyperledger

Hyperledger has officially adopted its first public blockchain project in the form of ConsenSys’ Pantheon.

The Hyperledger technical steering committee approved Pantheon’s addition Thursday morning, renaming the initiative to Hyperledger Besu (a Japanese term for base or foundation). Pantheon was first proposed as a potential new member of the consortium on Aug. 8, joining the likes of Hyperledger Fabric (which IBM has supported) and Hyperledger Sawtooth (backed by Intel).

Pantheon includes a suite of ethereum-based services built by PegaSys, an engineering team at ConsenSys. These services can operate on top of ethereum’s public, private and test networks. Grace Hartley, strategy and operations associate at PegaSys, said Pantheon is ConsenSys’ only ethereum client in its suite of open-source projects.

“We’ve always wanted to be a gateway for enterprises to public chains while also meeting the needs of private and permissioned networks,” Hartley told CoinDesk. “I think this is a good step in that process.”

Now the Hyperledger staff will work with ConsenSys to transfer Pantheon’s GitHub repository to the consortium and set up email lists and chat channels connected to the project. In recent months, ConsenSys has also donated ConsenSys CAVA to the Apache Software Foundation, which is now being incubated as Apache Tuweni.

“I expect it to be a pretty easy process,” said Brian Behlendorf, executive director of Hyperledger. “It’s already a very active open source project. Before it joined Hyperledger, it had its own life with external contributors working on it.”

Pantheon is interested in finding ways to potentially collaborate with Hyperledger Burrow, a modular blockchain client with a permissioned smart contract interpreter partially developed to the specification of the Ethereum Virtual Machine (EVM), Hartley said.

The Pantheon team is also interested in finding “cross-chain opportunities” with Tendermint, Burrow’s consensus algorithm, and in collaborating with Hyperledger Quilt because of its interledger protocol.

Hyperledger’s foray into ethereum began with Burrow, and the consortium has partnered with the Enterprise Ethereum Alliance to collaborate on common standards for the blockchain space. Hyperledger has also received a proposal from the Trusted Compute Framework, a project that follows the EEA’s standards regarding secure enclaves and other privacy approaches.

ConsenSys has been thinking about adding Pantheon to Hyperledger for the last several months, Hartley said. The company chose Pantheon because of its open-source license and its ability to build enterprise applications on the mainnet. The project’s most active users are within the financial services industry and use it especially for settlement and digital asset use cases.

“We’re eager to include the ethereum community especially when it comes to something like support for private transactions or support for smart contracts that run in a lot of different places,” Behlendorf said, adding:

“What’s going on in ethereum is something that other public blockchains should be tracking. Maybe solidity or an EVM programming language becomes more of the standard.”

Part of the requirements for projects looking to join Hyperledger is to be open-source under the Apache license or re-licensed as Apache. ConsenSys Open Source Chef Jim Jagielski co-founded the Apache Software Foundation with Behlendorf and others.

“The PegaSys team has been a quick study,” Behlendorf said. “A few folks on their team have been a part of other open-source projects.”

Brian Behlendorf image via CoinDesk archives

Related:

  • No Related Posts

Hyperledger Unanimously Approves First Ethereum Codebase For Enterprises

Cryptocurrency Ethereum

Photothek via Getty Images

The Hyperledger consortium dedicated to bringing blockchain to enterprises has accepted its first code that links businesses directly to a public blockchain, in this case, ethereum. Called Hyperledger Besu, the open-source codebase is almost identical to another ethereum enterprise solution, called Pantheon, developed by ethereum startup ConsenSys and running since April of this year. After some heated debate over whether Hyperledger was designed to expand by adding new code bases, or converge into a more unified offering, the vote was approved unanimously.

Among the most important differences between Pantheon and Hyperledger Besu is that since being approved by the Hyperledger Technical Steering Committee, the rebranded ethereum client will receive support training new users, certification of developers working with high-stakes enterprises, and will be more easily integrated with existing codebases, perhaps easing the path to adoption by ensuring that companies on potentially competing networks can work together.

“Historically, we have seen more demand for the permissioned networks because of the different features enterprises don’t want to share,” says Grace Hartley, an operations lead at ConsenSys. “But we’re seeing now, and we think Hyperledger will be a part of this, that the mainnet compatibility will become more of a player for enterprise use cases.”

Among the existing blockchain codebases Hyperledger Besu might be integrated with are Hyperledger Fabric, originally developed by IBM and contributed to the Hyperledger community, Hyperledger Sawtooth, originally developed by Intel, Hyperledger Caliper originally developed by Huawei, and Hyperledger Grid, originally developed by Cargill.

Blockchain 50 full coverage

Forbes

To give an idea of the scale of the work being supported by those codebases, projects already in the works include the IBM Food Trust Network, comprised of Golden State Foods, Nestlé, Wal-Mart and others seeking to bring transparency to the food supply chain and Salesforce Blockchain, an easier way to build networks of companies that share a common record of transactions, powered by Hyperledger Sawtooth.

The biggest difference between these tools and Besu is that while the current solutions only let networks of invited companies that already trust each other streamline work processes by using a shared, distributed ledger, Besu is also able to integrate with the public ethereum blockchain, which lets groups of strangers form permissionless networks on the main ethereum blockchain.

Besu was built by a team of 26 full-time employees at Brooklyn-based ConsenSys. Together, the team, and about 30 other employees go by the name PegaSys and operate somewhat like an independent startup. As is typical for projects incubated within Hyperledger, Besu was co-sponsored by other consortium members, in this case, ethereum co-founder and ConsenSys CEO Joe Lubin, JP Morgan engineer, Samer Falah, and Red Hat senior engineer Mark Wagner.

Besu evolved from PegaSys’ Pantheon ethereum client, which launched in April of this year, relies on the JAVA coding language popular among enterprise developers and is compliant with standards first developed by the non-profit Enterprise Ethereum Alliance. Unlike many other blockchain codebases, Besu and other Hyperledger solutions adhere to the Apache 2.0 software license, which means that enterprises building on the blockchain infrastructure, or using any of the open-source tools, retain full ownership of any intellectual property they create.

Historically, enterprises have been reluctant to use public blockchains like ethereum out of concern that valuable information about the counterparties in a transaction might accidentally be made public. As a result, while public blockchains promise to remove even more unnecessary middlemen than private blockchains, adoption has been minimal. Besu claims to have addressed these privacy concerns with a new permissioning system that lets users control who can access a network, privacy features that temporarily move some transactions off the public blockchain, and by giving users the choice to settle transactions on the public blockchain or using a private consensys mechanism. A separate codebase developed by PegaSys to further enable transactions on the public ethereum blockchain, called Orion, is not being contributed to Hyperledger.

Already, 28 external contributors had created a total of 111 updates to Besu as of July 31, 2019. Dozens of startups have also tested the platform, according to Hartley, and in May 2019, her team at PegaSys partnered with LiquidShare, a European group backed by Euronext, Société Générale, BNP Paribas and Euroclear, to build a platform that will launch in 2020 to make it easier for small and medium-sized enterprises’ to access capital markets.

“It is a very active community,” says Hartley.

While Besu’s admission to Hyperledger is a first for public blockchains, Besu builds on momentum developed from other projects both in and out of Hyperledger. Earlier this month, the Enterprise Ethereum Alliance behind standards guiding Besu’s development formed its own public blockchain working group chaired by Ethereum Foundation director Aya Miyaguchi. In April 2017 Hyperledger’s technical steering committee approved Hyperleder Burrow, a solution for permissioned blockchains using the same ethereum virtual machine (EVM) as ethereum, and six months later Hyperledger Quilt, originally developed by Ripple, was admitted as a way to connect almost any blockchain with any other blockchain.

Hyperledger was founded in 2015 after a company of the same name was purchased by venture-backed Digital Asset Holdings, which then handed over the trademark and early code to the non-profit Linux Foundation. Now comprised of over 250 members, including Accenture, American Express, Baidu and the DTCC, technology supported by the non-profit organization was used by more than half the members of the inaugural Forbes Blockchain 50 list earlier year. While exact numbers of projects using Hyperledger platforms are impossible to identify, since the opensource software can be downloaded by anyone, executive director Brian Behlendorf estimates there are between 100 and 200 active projects.

Now that Besu has been admitted to Hyperledger, the codebase still needs to integrated into Hyperledger’s GitHub code repository and the Rocketchat work group and to obtain a certification from the Linux Foundation that says the developers follow best practices in their implementation of infrastructure technology. As for Hyperledger, the group’s executive director, Brian Behlendorf says that while there will never be a “hypercoin,” the admission of Besu marks a transition to a new phase of public blockchain integration with private blockchains.

“Hyperledger’s first goal was just to prove the concept of enterprise blockchain, let’s get some stuff out there that can be deployed into production,” says Behlendorf, “And now that those bets are paying off, now that we see a lot of success, over time our mission has to evolve to support the hybrid models. How do we get more efficiency, rather than just being a team of rivals?”

Related:

  • No Related Posts

Hedera Hashgraph launches mainnet, hopes to compete with global business networks

Hedera Hashgraph, an electronic public ledger developed for corporate use, launched its mainnet beta today, allowing developers to create an account and build decentralized applications (dApps) for it.

The distributed ledger technology (DLT) is a direct competitor to blockchain distributed ledgers such as Ethereum and Hyperledger, and claims it can outperform traditional financial and business networks.

“There is no direct equivalent to Hedera Hashgraph today,” said Martha Bennett, a principal analyst at Forrester Research. Hedera is potentially competing with public networks and all the enterprise DLT frameworks (such as Hyperledger Fabric & Sawtooth, R3 Corda, and others) and their commercial providers, which include AWS, IBM, Microsoft, Oracle.

At the same time, Hedera has garnered support from telecom players and tech vendors, even those that have their own blockchain services. Indian tech giant’s Tata Communications, IBM, Deutsche Telekom, and FIS Global, which acquired WorldPay earlier this year, are among 10 companies on Hedera’s governing council.

Once the beta is completed, the Hedera Hashgraph network will offer its “hbar” cryptocurrency, which the start-up said can achieve to 10,000 transactions per second on the network.

“Transactions per second,” Bennett said, is a term that’s almost meaningless because while you can feed transactions onto a network at a high rate, that means little unless they can also be finalized quickly.

Related:

  • No Related Posts

Santiago Stock Exchange Set to Partner in Blockchain Consortium

A new blockchain project is being launched to help stabilize and improve Chile’s stock market and attract foreign investors.

The Santiago Stock Exchange (STE), Central Securities Depository (DCV), and the Global Trade Directory (GTD) are set to establish a blockchain association, in order to work on a Hyperledger blockchain initiative. This, according to a BNamericas report, released on August 27, 2019.

The Technology Consortium will be looking into various use cases for distributed ledger technology (DLT) in the nation’s financial industry. The Consortium will aim to work on projects that enhance communications for local and international investors participating in Chile’s stock exchange.

During the next 18 months, the association members are planning to establish the Business Blockchain Network. The new network will run on a set of nodes, which will allow for interconnectivity, in order to “reduce applications, times, and costs of administrative processes.”

José Antonio Martínez, the general manager of the Santiago Stock Exchange, said:

“Innovation is a strategic pillar for the Santiago Stock Exchange. Through this Consortium we seek to generate the best conditions for the stock and financial business, with innovative and world-class solutions,”

In 2018, the STE launched the Linux Foundation’s Hyperledger framework to enhance the exchange’s short selling and other financial products. The Hyperledger technology stack is an enterprise-level, permissioned (private) blockchain network.

Recently, the International Swaps and Derivatives Association (ISDA) also started using certain components of the Hyperledger software.

During the course of the next six months, the association intends to formally define and complete the project’s main objectives. The Consortium members will be seeking feedback from the concerned parties. Production releases could begin after the relevant details have been finalized.

Latin American Banking Service Provider to Conduct Bitcoin Blockchain-based Cross-Border Transfers

On August 13, 2019, Bantotal, a major Latin American banking technology company, partnered with crypto exchange Bitex, in order to conduct Bitcoin blockchain-based cross-border transactions.

Manuel Beaudroit, chief marketing officer at Bitex, said:

“The integration of Bitex into Bantotal program represents a major step in the breakthrough of blockchain technology in banking.”

Bantotal is a leading Uruguay-based banking service provider that serves more than 60 financial institutions in 14 different countries.

Approximately 20 million people use the company’s money management services, a Bantotal representative said.

New Hyperledger to be Launched by the Santiago Stock Exchange (STE), and Others

Based on a recent report, the Santiago Stock Exchange (STE), the Global Trade Directory (GTD), and the Central Securities Depository (DVC) has come together to form a new Hyperledger blockchain project to stabilise the Chilean stock market and bring in new investors from overseas.

The Technology Consortium will investigate cases regarding the usage of blockchain in the financial sector, especially in the enhancement of communications for both domestic and international investors in the Chilean stock exchange.

Also, the association of businesses hopes to begin the Business Blockchain Network which will operate a collection of nodes within a year and a half. This interconnectivity is expected to help “reduce applications, times, and costs of administrative processes.”

José Antonio Martinez, the general manager of the Santiago Stock Exchange said that:

“Innovation is a strategic pillar for the Santiago Stock Exchange. Through this Consortium, we seek to generate the best conditions for the stock and financial business, with innovative and world-class solutions,”

Previously, the STE established the Linux Foundation’s Hyperpedger framework in 2018 so as to support short selling and other financial services.

While marketing the Hyperledger network, it was described as an enterprise-focused, permissioned blockchain. However, in recent months, the International Swaps and Derivatives Association (ISDA) also started making use of some parts of the software.

In addition, for the next six months, the consortium will start defining and finalising information about the initiative with input from institutions which got affected by it. Thereafter, production releases are expected within intervals of 6 months.

Bantotal and Bitex

In other news, top Latin American banking provider — Bantotal, has formed a partnership with digital currency exchange— Bitex to facilitate cross-border payments on the continent while utilising the bitcoin blockchain.

The Chief Marketing Officer at Bitex, Manuel Beaudroit said that:

“The integration of Bitex into Bantotal program represents a major step in the breakthrough of blockchain technology in banking.”

Related:

  • No Related Posts

New Hyperledger to be Launched by the Santiago Stock Exchange (STE), and Others

Based on a recent report, the Santiago Stock Exchange (STE), the Global Trade Directory (GTD), and the Central Securities Depository (DVC) has come together to form a new Hyperledger blockchain project to stabilise the Chilean stock market and bring in new investors from overseas.

The Technology Consortium will investigate cases regarding the usage of blockchain in the financial sector, especially in the enhancement of communications for both domestic and international investors in the Chilean stock exchange.

Also, the association of businesses hopes to begin the Business Blockchain Network which will operate a collection of nodes within a year and a half. This interconnectivity is expected to help “reduce applications, times, and costs of administrative processes.”

José Antonio Martinez, the general manager of the Santiago Stock Exchange said that:

“Innovation is a strategic pillar for the Santiago Stock Exchange. Through this Consortium, we seek to generate the best conditions for the stock and financial business, with innovative and world-class solutions,”

Previously, the STE established the Linux Foundation’s Hyperpedger framework in 2018 so as to support short selling and other financial services.

While marketing the Hyperledger network, it was described as an enterprise-focused, permissioned blockchain. However, in recent months, the International Swaps and Derivatives Association (ISDA) also started making use of some parts of the software.

In addition, for the next six months, the consortium will start defining and finalising information about the initiative with input from institutions which got affected by it. Thereafter, production releases are expected within intervals of 6 months.

Bantotal and Bitex

In other news, top Latin American banking provider — Bantotal, has formed a partnership with digital currency exchange— Bitex to facilitate cross-border payments on the continent while utilising the bitcoin blockchain.

The Chief Marketing Officer at Bitex, Manuel Beaudroit said that:

“The integration of Bitex into Bantotal program represents a major step in the breakthrough of blockchain technology in banking.”

Related:

  • No Related Posts

New Hyperledger to be Launched by the Santiago Stock Exchange (STE), and Others

Based on a recent report, the Santiago Stock Exchange (STE), the Global Trade Directory (GTD), and the Central Securities Depository (DVC) has come together to form a new Hyperledger blockchain project to stabilise the Chilean stock market and bring in new investors from overseas.

The Technology Consortium will investigate cases regarding the usage of blockchain in the financial sector, especially in the enhancement of communications for both domestic and international investors in the Chilean stock exchange.

Also, the association of businesses hopes to begin the Business Blockchain Network which will operate a collection of nodes within a year and a half. This interconnectivity is expected to help “reduce applications, times, and costs of administrative processes.”

José Antonio Martinez, the general manager of the Santiago Stock Exchange said that:

“Innovation is a strategic pillar for the Santiago Stock Exchange. Through this Consortium, we seek to generate the best conditions for the stock and financial business, with innovative and world-class solutions,”

Previously, the STE established the Linux Foundation’s Hyperpedger framework in 2018 so as to support short selling and other financial services.

While marketing the Hyperledger network, it was described as an enterprise-focused, permissioned blockchain. However, in recent months, the International Swaps and Derivatives Association (ISDA) also started making use of some parts of the software.

In addition, for the next six months, the consortium will start defining and finalising information about the initiative with input from institutions which got affected by it. Thereafter, production releases are expected within intervals of 6 months.

Bantotal and Bitex

In other news, top Latin American banking provider — Bantotal, has formed a partnership with digital currency exchange— Bitex to facilitate cross-border payments on the continent while utilising the bitcoin blockchain.

The Chief Marketing Officer at Bitex, Manuel Beaudroit said that:

“The integration of Bitex into Bantotal program represents a major step in the breakthrough of blockchain technology in banking.”

Related:

  • No Related Posts