The deployment of a public beta of the Hedera Hashgraph has created a buzz in the crypto sphere after rigorous efforts aimed towards its development which date back to 2017. As per the Hedera project developers, the platform will offer an enterprise-grade distributed ledger solution.
Hedera Hashgraph serves as a 3rd generational distributed system that shines a top-notch higher in terms of advancement when compared to not only Bitcoin but also Ethereum. The merits of the new platform opine to bring revolutionary technological benefits for DLT.
Enhanced Blockchain Technology Attributes
Hedera Hashgraph will serve as a crucial improved version of the blockchain technology and will lay the guidelines for the working pedagogy of an ideal system. As per the reports, the hash rate of Hedera is immensely powerful and is capable to process more than 10,000 transactions per second. Such amazing speed makes it stand out from its competitors like Bitcoin, Stellar, Ethereum, RippleNet.
The speed of validation on conventional distributed ledger systems has always been a major issue. However, Hedera Hashgraph promises to extend a potential solution to render to these scalability problems.
Also, Hedera Hashgraph is created on the new-age technology-Directed Acyclic Graph or DAG which is an unprecedented feature in the tradition blockchain technology where mechanisms of proof-of-stake, proof-of-work, or proof-of-authority consensus are common. As a result, DAG renders the new system by enabling the participants to serve as nodes while validating transactions resulting in a quick consensus.
Amid an array of positive aspects, Hedera Hashgraph might face the backlash only because it is backed by a governing council that is studded with tech corporate giants like IBM and Boeing. Despite all this, the users can enjoy the benefits of a peer-to-peer solution where transactions are validated by the users themselves ensuring a substantial presence of decentralization methodology.
Hedera Hashgraph is subjected to stiff competition from its competitors that are solely blockchain-oriented. Mance Harmon, who works as the notable CEO and co-founder of the Hedera Hashgraph, is quite assured that the new technology is implanted with attributes and features that make it the best choice for addressing to the industrial and retail market’s requirements.
Apart from building a system with technological excellence, the Hedera team is also at the forefront to comply with legal principles and regulations with an intention to give the best services to its users and investors.
The Future Of HBAR
Hedera Hashgraph promised to offer super-fast transaction speed, economical interface, customizable, and stringent security through its token, HBAR. The HBAR token is exchanging at $0.038 on the official exchange. The total lot consists of 50 billion tokens.
Studded with a suite of applications and features, Hedera Hashgraph allows users to enjoy distributed management of data files, smart-contract focused assets exchange, security, and reliability. The users can build DApps on the platform. Currently, there are 26 DApps in number.
Early access of the mainnet is available for the users while the exploitation of the Hedera Hashgraph and the HBAR for community access is slated for anytime between 2019 and 2020 as per the official website.