HyperLedger Besu — Blockchain Technology Is On The Rise In The Business Environment —

The most widely used technologies around the DLT (Distributed Ledger Technology), like Quorum, Corda, or HyperLedger Fabric, have been mainly used around business projects.

After that, in the second half of 2019, a new project was launched under the umbrella of HyperLedger called HyperLedger Besu, which was made public.

The HyperLedger Besu node is an Ethereum-based technology that helps to develop enterprise-grade applications on public, private, or test networks. Because of this approach, HyperLedger Besu adoption is rising within the blockchain world.

The article covers about HyperLedger Besu and its impact on the business environment -

Background of HyperLedger Besu -

The team Pegasys, part of Consensys, started developing the technology in 2018 named Pantheon. The primary objective was to provide an Ethereum-client solution for a productive enterprise ecosystem.

Version 1.0 of Pantheon was launched in February 2019, and later in August 2019, the Pantheon was officially adopted under the new name, HyperLedger Besu. After this, there was the first collaboration between Ethereum and HyperLedger Besu.

In the beginning phase, HyperLedger Besu was evolving in different aspects, such as network permission management, consensus algorithms, or privacy at the Ethereum protocol level.

Apart from those integrated functionalities, the roadmap of HyperLedger Besu refers to interoperability, performance, and stability, which consider the needs of business applications.

What is HyperLedger Besu?

HyperLedger Besu is an open-source Ethereum client designed for the Ethereum network and for providing better solutions for business environments. Moreover, it is compatible with Ethereum’s test networks like Rinkeby, Ropsten, or Gorli.

The HyperLedger Besu must follow EEA (Ethereum Enterprise Alliance) instructions for technical implementations. The EEA is an organization that focuses on creating open standards within the Ethereum ecosystem, and this helps to quicken the technology adoption within the business environment.

Impact on business environment -

One of the biggest struggles for business blockchain projects has been the production environment because of a need for more companies that can help and support developing the product with this type of technology.

The solution towards the business blockchain projects can happen by encouraging blockchains in the business environment.

Moreover, specialized companies must support business environments with their technical capacity and guarantee the growth of the product in the long run. Also, taking into account fundamental and essential aspects such as performance, availability, and security, which are required for any business environment.

For the business purpose environment, in October 2019, Pegasys Plus was launched by Consensys, which is a commercial distribution of HyperLedger Besu in which it provides product updates, patch creation, training, technical support of 24x7 and improvements in critical areas like monitoring, efficiency, or security are offered. This way, the companies can combine blockchain with their business environment and processes, creating 100% productive platforms.

The rapid adoption of Blockchain Technology -

The rapid adoption of blockchain technology can be seen around Spain, Europe, and Latin America -

1. Alastria is an open association of different organizations within the Spanish blockchain ecosystem that promotes the digital economy. Moreover, they promote different types of networks; its partners and HyperLedger Besu deployed “B-network,” which was born at the start of 2020.

2. In Europe, all 29 countries, including all EU member states, European Commission, Norway, and Lichtenstein, have joined forces to create European Blockchain Services Infrastructure (EBSI). The EBSI has been working since 2018, and its primary focus is providing a cross-border network, DLT network based on several protocols, including HyperLedger Besu.

3. LACChain, developed in Latin America and the Caribbean, aims to develop the blockchain ecosystem. They have been offering their corporate partners a DLT network based on HyperLedger Besu for business environments and processes.

Conclusion -

HyperLedger provides enterprise-grade solutions by leveraging the benefits of public networks and adding an extra layer of security.

HyperLedger is gaining momentum across Spain, Europe, and Latin America for different use cases required for business environments. And those countries are promoting blockchain technology for business use with the help of HyperLedger Besu as a required protocol.

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