Hedera: Blockchain for Scalability and Energy Efficiency
Hashgraph is an innovative technology behind the Hedera cryptocurrency (HBAR), which offers a unique alternative to traditional blockchains.
Hashgraph is an innovative technology behind the Hedera cryptocurrency (HBAR), which offers a unique alternative to traditional blockchains. The Hedera development team aims to provide fast transactions, network security and high scalability. Hedera Hashgraph is at the forefront of the tokenisation revolution, providing an enterprise-grade solution to simplify the digitisation of real-world assets. As tokenization takes hold, Hedera focuses on security, scalability and compliance, changing the way assets are managed and exchanged around the world.
Short History
Founded in 2018 by Leemon Baird, Mance Harmon and Zenobia Godshalk, Hedera is a public distributed ledger and governance body designed from the ground up to support new and existing applications operating at internet scale. It uses distributed ledger technologies to embed computational trust directly into its applications, enabling companies and individuals who may not know or trust each other to collaborate quickly and conveniently. Distributed public ledgers facilitate value creation and exchange, verification and authentication of critical data, identity verification and more.
Hedera Hashgraph, based in Richardson, Texas, USA, has raised $125m in funding through seven rounds. The company is backed by 19 investors, including Boeing HorizonX Ventures, Tata Communications, BlacTower Capital, and Vestinwolf Alternatives.
Mance Harmon, CEO and co-founder of Hedera Hashgraph, is a seasoned technology executive and entrepreneur with more than 20 years of strategic leadership experience in multinational corporations, government agencies, and technology startups. Dr Leemon Baird, co-founder and Chief Scientist of Hedera Hashgraph, developed the Hedera public network based on the Hashgraph distributed consensus algorithm. One of the main advantages of Hedera Hashgraph is that it eliminates the need for complex calculations required by proof-of-work systems.
What Problem Does Hedera Hashgraph Solve?
Hedera is a distributed ledger that eliminates the factors holding back public DLT adoption in the mass sector.
Hedera is the only public ledger solution available in the industry that uses Hashgraph consensus, a faster and more secure alternative to blockchain consensus mechanisms. The Hashgraph mechanism works more efficiently to verify transactions while providing the highest possible level of security, even in the presence of malicious attacks on the network.
Hashgraph is faster than Bitcoin or Ethereum blockchains due to its high capacity: over 10,000 cryptocurrency transactions per second and low latency. This is achieved thanks to its innovative gossip protocol and virtual voting mechanism.
The network is governed by a board of up to 39 of the world's leading companies. These board members bring fundamental business experience and processes that were lacking in previous public register platforms. The board includes a diverse mix of industries, with many respected brands among its members. This diversity allows Hedera Hashgraph to have unique perspectives on the challenges of different industries. At the time of writing, members of the Hedera Hashgraph network council include Boeing, Chainlink Labs, Dentons, Deutsche Telecom, LG, Google, Nomura and many other leading brands.
Hedera's technical solution offers controlled volatility of network status and the ability to request or attach additional data, such as identity certificates, to transactions. These functionalities offer opportunities for future developments. The use of these options is optional and under the control of the end users. As a result, Hedera intends to collaborate with regulators and encourage the development of tools that enable companies to meet their consumer protection and regulatory compliance obligations.
Features of the Hedera Project
First, it is important to understand that Hedera Hashgraph represents an alternative to classic blockchain technologies. Instead of using a sequence of blocks, as is the case with traditional blockchains, Hashgraph uses a graph that displays the history of all transactions.
This data structure allows Hedera Hashgraph to achieve higher processing capacity and lower latency than most blockchain platforms.
Therefore, key features of the design include:
Fast settlement and scalability. Thanks to the DAG (direct acyclic graph) algorithm, Hedera Hashgraph is able to process tens of thousands of transactions per second with a latency of only a few seconds. This makes the platform ideal for large-scale, high workload applications;
Hedera Hashgraph guarantees a high level of security thanks to a consensus algorithm that is protected against various types of attacks. In addition, the platform uses asymmetric public key cryptography to ensure privacy and security of transactions;
Management and Stability. Hedera Hashgraph is governed by a board consisting of large and diverse organisations from all over the world. This can be considered as a kind of guarantee of the stability and reliability of the platform;
Respect for the environment. Unlike many other blockchains, Hedera Hashgraph does not use the energy-intensive mechanism of Proof-of-Work.
As for the areas in which Hedera Hashgraph can be used, there are several and they concern the real sector of the economy: the financial sector, healthcare, logistics, digital identifiers for information, etc.
And yes, at the time of writing, dozens of different applications (dApps), artificial intelligence projects, marketplaces, metaverse and DeFi projects have been created on the basis of Hedera.
How is a Hashgraph Different from a Blockchain?
The main difference between a Hashgraph and a blockchain is the approach to achieving consensus. In traditional blockchains, consensus is achieved through mining or a proof-of-work algorithm. Hedera Hashgraph uses an "asynchronous voting" algorithm that allows nodes to exchange information directly, making the process of reaching consensus much quicker and more efficient.
The Latest Successes of Hedera Hashgraph
Tokenisation involves converting the ownership of physical or financial assets into digital tokens registered on a blockchain. This process enables fractional ownership, making traditionally high-value assets such as real estate, bonds and stocks more accessible to a wider range of investors. Tokenisation makes previously illiquid assets easily tradable, increasing liquidity and democratising investment opportunities.
Hedera ATS simplifies the tokenization process through an open-source framework, a built-in compliance system and advanced functionality. Based on the robust Hashgraph consensus algorithm, ATS supports thousands of transactions per second and automates processes. On-chain metadata, role-based access control, KYC compliance and supply chain enforcement make the system secure and compliant.
The firm also implements tools such as pause functionality and token blocking to effectively manage compliance and security requirements. Interoperability with Ethereum standards such as ERC-1400 also makes the ATS compatible with established frameworks. In addition, it integrates wallets such as MetaMask and Blade Wallet, offering greater accessibility for both issuers and investors.
How Does a Hashgraph Work?
The hashgraph process can be broken down into two main stages: sending and voting. Each node in the network sends its transactions to the other nodes; the information is distributed throughout the network. This is followed by voting, during which nodes exchange votes to confirm the blocks. Once consensus is reached, the blocks are confirmed and added to the transaction chain.
How many Hedera Hashgraph Coins (HBAR) are in Circulation?
Hedera Hashgraph has issued a limited number of HBAR tokens. The total supply of coins is limited to 50 billion units. In the initial phase, only a portion of the total supply is issued, with the remainder being released gradually over time, which helps to ensure stability and reduce the risk of inflation.
The Future of Hedera Hashgraph
In February 2021, Hedera announced the launch of the Hedera Token Service (HTS) on the Hedera Mainnet, allowing anyone to create tokens on the platform. At launch, over 60 initial ecosystem partners had joined Hedera, integrating, exploring or planning to integrate the Hedera Token Service to help applications issue tokens in areas such as supply chain, DeFi, payments, energy and more. Transferring tokens using the HTS will cost only $0.001. Currently, there are a significant number of projects that are creating tokens on Hedera, and it is expected that this project will be completed in the coming months.
Contemporaneously, several updates to the Hedera Hashgraph Mainnet are expected in the coming months. According to Hedera's future roadmap, work is planned to minimise network downtime during maintenance (unlike decentralised currencies, which operate constantly even during upgrades).
In addition, the Hedera network will also introduce a feature known as scheduled transactions. This process allows a person to specify a specific time at which they want a transaction to take place. Optionally, the function can also require that a transaction be signed by a certain number of people before it is sent.
Conclusion
Hedera Hashgraph (HBAR) is a promising project that offers an efficient approach to achieving consensus in the network. With its unique Hashgraph technology and a team of experienced developers, Hedera has the potential to become a major player in the cryptocurrency and blockchain world. The high transaction speed, scalability and security of the network make Hedera an attractive option for various applications, including financial services, IoT, decentralised applications and many others. Therefore, the future of Hedera Hashgraph looks promising, and it could become a key player in the development of modern technologies.
Hashgraph is an innovative technology behind the Hedera cryptocurrency (HBAR), which offers a unique alternative to traditional blockchains. The Hedera development team aims to provide fast transactions, network security and high scalability. Hedera Hashgraph is at the forefront of the tokenisation revolution, providing an enterprise-grade solution to simplify the digitisation of real-world assets. As tokenization takes hold, Hedera focuses on security, scalability and compliance, changing the way assets are managed and exchanged around the world.
Short History
Founded in 2018 by Leemon Baird, Mance Harmon and Zenobia Godshalk, Hedera is a public distributed ledger and governance body designed from the ground up to support new and existing applications operating at internet scale. It uses distributed ledger technologies to embed computational trust directly into its applications, enabling companies and individuals who may not know or trust each other to collaborate quickly and conveniently. Distributed public ledgers facilitate value creation and exchange, verification and authentication of critical data, identity verification and more.
Hedera Hashgraph, based in Richardson, Texas, USA, has raised $125m in funding through seven rounds. The company is backed by 19 investors, including Boeing HorizonX Ventures, Tata Communications, BlacTower Capital, and Vestinwolf Alternatives.
Mance Harmon, CEO and co-founder of Hedera Hashgraph, is a seasoned technology executive and entrepreneur with more than 20 years of strategic leadership experience in multinational corporations, government agencies, and technology startups. Dr Leemon Baird, co-founder and Chief Scientist of Hedera Hashgraph, developed the Hedera public network based on the Hashgraph distributed consensus algorithm. One of the main advantages of Hedera Hashgraph is that it eliminates the need for complex calculations required by proof-of-work systems.
What Problem Does Hedera Hashgraph Solve?
Hedera is a distributed ledger that eliminates the factors holding back public DLT adoption in the mass sector.
Features of the Hedera Project
First, it is important to understand that Hedera Hashgraph represents an alternative to classic blockchain technologies. Instead of using a sequence of blocks, as is the case with traditional blockchains, Hashgraph uses a graph that displays the history of all transactions.
This data structure allows Hedera Hashgraph to achieve higher processing capacity and lower latency than most blockchain platforms.
Therefore, key features of the design include:
As for the areas in which Hedera Hashgraph can be used, there are several and they concern the real sector of the economy: the financial sector, healthcare, logistics, digital identifiers for information, etc.
And yes, at the time of writing, dozens of different applications (dApps), artificial intelligence projects, marketplaces, metaverse and DeFi projects have been created on the basis of Hedera.
How is a Hashgraph Different from a Blockchain?
The main difference between a Hashgraph and a blockchain is the approach to achieving consensus. In traditional blockchains, consensus is achieved through mining or a proof-of-work algorithm. Hedera Hashgraph uses an "asynchronous voting" algorithm that allows nodes to exchange information directly, making the process of reaching consensus much quicker and more efficient.
The Latest Successes of Hedera Hashgraph
Tokenisation involves converting the ownership of physical or financial assets into digital tokens registered on a blockchain. This process enables fractional ownership, making traditionally high-value assets such as real estate, bonds and stocks more accessible to a wider range of investors. Tokenisation makes previously illiquid assets easily tradable, increasing liquidity and democratising investment opportunities.
Hedera ATS simplifies the tokenization process through an open-source framework, a built-in compliance system and advanced functionality. Based on the robust Hashgraph consensus algorithm, ATS supports thousands of transactions per second and automates processes. On-chain metadata, role-based access control, KYC compliance and supply chain enforcement make the system secure and compliant.
The firm also implements tools such as pause functionality and token blocking to effectively manage compliance and security requirements. Interoperability with Ethereum standards such as ERC-1400 also makes the ATS compatible with established frameworks. In addition, it integrates wallets such as MetaMask and Blade Wallet, offering greater accessibility for both issuers and investors.
How Does a Hashgraph Work?
The hashgraph process can be broken down into two main stages: sending and voting. Each node in the network sends its transactions to the other nodes; the information is distributed throughout the network. This is followed by voting, during which nodes exchange votes to confirm the blocks. Once consensus is reached, the blocks are confirmed and added to the transaction chain.
How many Hedera Hashgraph Coins (HBAR) are in Circulation?
Hedera Hashgraph has issued a limited number of HBAR tokens. The total supply of coins is limited to 50 billion units. In the initial phase, only a portion of the total supply is issued, with the remainder being released gradually over time, which helps to ensure stability and reduce the risk of inflation.
The Future of Hedera Hashgraph
In February 2021, Hedera announced the launch of the Hedera Token Service (HTS) on the Hedera Mainnet, allowing anyone to create tokens on the platform. At launch, over 60 initial ecosystem partners had joined Hedera, integrating, exploring or planning to integrate the Hedera Token Service to help applications issue tokens in areas such as supply chain, DeFi, payments, energy and more. Transferring tokens using the HTS will cost only $0.001. Currently, there are a significant number of projects that are creating tokens on Hedera, and it is expected that this project will be completed in the coming months.
Contemporaneously, several updates to the Hedera Hashgraph Mainnet are expected in the coming months. According to Hedera's future roadmap, work is planned to minimise network downtime during maintenance (unlike decentralised currencies, which operate constantly even during upgrades).
In addition, the Hedera network will also introduce a feature known as scheduled transactions. This process allows a person to specify a specific time at which they want a transaction to take place. Optionally, the function can also require that a transaction be signed by a certain number of people before it is sent.
Conclusion
Hedera Hashgraph (HBAR) is a promising project that offers an efficient approach to achieving consensus in the network. With its unique Hashgraph technology and a team of experienced developers, Hedera has the potential to become a major player in the cryptocurrency and blockchain world. The high transaction speed, scalability and security of the network make Hedera an attractive option for various applications, including financial services, IoT, decentralised applications and many others. Therefore, the future of Hedera Hashgraph looks promising, and it could become a key player in the development of modern technologies.
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