Referencing the long-term visions of the inventor Ray Kurzweil and investing legend Warren Buffett, the protocol engineering team ‘PegaSys’ at ConsenSys talked about preparing for Crypto Spring.
In a blog, it detailed the three core principles that will be driving its strategy in 2019 and beyond.
Thinking Long Term
Buffett and Kurzweil talk about thinking long term, which has been one of the key aspects for PegaSys to follow in the challenging blockchain market.
PegaSys’ Faisal Khan noted in a blog post:
“Teams have to make design decisions on how to integrate with enterprise, without knowing if their path is the ‘best practice’ — since they are the first to do it.”
He said that the teams are excited about creating new uses cases and understands the shift to production could be hard.
Khan said that the enterprise tech stack for the industry is highly fragmented, including certificates, databases, identity, and analytics, and there doesn’t seem to be a definite “right” way to do things.
He added that their strategy is designed for the long term.
What Is the Three-pronged Strategy of PegaSys?
PegaSys will focus on applications primarily.
It suggests that blockchain talk revolves around decentralization, smart contracts, networks, and consensus but, really what’s most important is creating applications for users that adds value to their lives.
It is, therefore, working with Adhara on real-time gross settlements and DrumG on OTC market data, helping to enable their use cases.
The second principle is to work on simplicity and standardization. The team gave the example of HTTP and its dominance on the internet because of its simplicity and flexibility.
The team is working with Enterprise Ethereum Alliance (EEA) to bring standardization to the fore and find a forum for collaboration.
Finally, the team wants to go for better R&D. Khan wrote:
“Our team is investing heavily to be at the forefront of improvements to Ethereum, with 10 researchers and engineers currently on our Ethereum 2.0 team.”
The Eth 2.0 research team was also accepted into the Stanford Blockchain Conference for work on Handel, a framework designed to aggregate large numbers of digital signatures. The team is also working on Beacon chain Java implementation called Artemis.
Pegasys Team at Consensys Outline Their 2019 Strategy was originally found on Cryptocurrency News | Blockchain News | Bitcoin News | blokt.com.