Hedera Hashgraph Explained
Hedera is a public distributed ledger and governing body built from the ground-up to support new and existing applications running at web scale. Developers use distributed ledger technologies to build computational trust directly into their applications. This allows individuals and businesses who might not know or trust each other to quickly and inexpensively collaborate. Public distributed ledgers allow for creating and exchanging value, proving identity, verifying and authenticating important data, and much more.
Hedera is unique in that it achieves the same result as the most ubiquitous public blockchains (such as Bitcoin or Ethereum), but in a way that is faster, fairer, and more energy efficient, stable, and secure — these advantages can be attributed to the underlying hashgraph consensus algorithm and the global enterprise governing body, which owns and operates Hedera today.
The Hedera public network is built on the hashgraph distributed consensus algorithm, invented by Dr. Leemon Baird, Hedera Co-founder and Chief Scientist. The hashgraph consensus algorithm provides near-perfect efficiency in bandwidth usage and consequently can process hundreds of thousands of transactions per second (throttled to ten thousand tps in beta) in a single shard (a fully connected, peer-to-peer mesh of nodes in a network).
Unlike a traditional proof-of-work blockchain, which selects a single miner to choose the next block, the community of nodes running hashgraph come to an agreement on which transactions to add to the ledger as a collective. Through gossip-about-gossip and virtual voting, the hashgraph network comes to consensus on both the validity and the consensus timestamp of every transaction. If the transaction is valid and within the appropriate time, the ledger’s state will be updated to include the transaction with 100% certainty (finality).
Fully Decentralized Governance
Hedera is governed by the Hedera Governing Council: An expert council consisting of 39 leading global enterprises and organizations, distributed across up to 11 different industries and spanning a wide range of geographies. The Governing Council makes key decisions over software upgrades, network pricing, treasury management, and more. Governing Council members are term-limited and do not receive any profits from Hedera.
Applications which utilize Hedera’s network services is a critical aspect of Hedera’s utility. Anyone from a single developer, to a startup, to an Enterprise Fortune 500 company can build and run Hedera-powered applications on the mainnet.
Hedera transaction volume according to Blocktivity is grown month over month and recently hit a 24hr high of 4,189,811 transactions.
What are some examples of real world adoption and utilization of Hedera?
Watch this video: The Bullish Case for Hedera Hashgraph
DLA Piper Launches New TOKO Security Tokenization Platform on Hedera Hashgraph, Hyperledger Fabric, and Microsoft Azure
Everyware, Hedera launch DLT solution to monitor UK NHS COVID-19 vaccine temperature
Safe Health Systems Builds Digital Health ID system on Hedera Hashgraph to Enable Home COVID-19 Testing on Your Mobile Phone
Leading Supply Chain Company AVC Global Selects Hedera Hashgraph as DLT Platform for global pharmaceutical supply chain compliance
The Coupon Bureau to use Hedera’s consensus to help track transactions
Australian fine wines tracked by Entrust on Hedera Hashgraph’s DLT
Australia’s debit card payment system, Eftpos, develops micropayment proof-of-concept with Hedera Hashgraph
UK Power Transition is a Microgrid Management Platform to transform how energy is used, managed, and traded by governments, businesses, and individuals.
Hyland Joins Forces With Hedera Hashgraph to Present Blockchain Proof of Concept for Records Verification to Texas Secretary of State
As you can clearly see, Hedera is being used by numerous companies to solve real world problems.
How to buy Hedra Hashgraph?
HBAR the utlity token of Hedera Hashgraph is currently only listed on one major exchange: Binance US
