Hedera Hashgraph Overview
Founded: 2016
Key persons: Dr. Leemon Baird, Mance Harmon
Capitalization: $3,396,488,352
Trading volume (24h): $325,310,004
CoinMarketCap rank: 42
Hedera Hashgraph (HBAR) general project description
The project was initially envisioned as the next generation of blockchain — an improved and innovative version. Since Bitcoin and Ethereum launch and massive adoption, certain technological weaknesses — transaction processing rates and network security — have become noticeable. Hedera Hashgraph (HBAR) core advantage is primarily based on distributed ledger technology and the patented “hashgraph consensus algorithm”. The main network was launched in 2019 after several years of development.
Current state (ecosystem and partners)
Hedera Hashgraph (HBAR) possesses the following benefits:
- High information exchange and consensus building speed between validators (more than 10 000 transactions per second, about 3 seconds to reach consensus)
- Low transaction cost (less than 1 cent)
- High network security and resilience: by using one of the strongest encryption protocols (asynchronous Byzantine Fault Tolerance (aBFT)), the network is able to continue operating correctly even if one third of validators are “off” at one moment.
- Operation stability and independence: due to a professionally developed core code, and no hardforks to date, the blockchain has never been terminated since the main network launch.
It is also worth noting the expanded list of consuls used for the project management and system development. Consuls are typically high-level professionals, representing multinational companies — leaders in their fields.
Future plans and development (roadmap)
By the end of Q3 2021, the Hedera Hashgraph (HBAR) team will have implemented many ideas that are crucial to its technology and infrastructure. Hedera is currently focused on ecosystem development. Project structure is optimized for corporate use in various fields: online payments, tokenized asset trading, fraud protection, game development, and decentralized applications.
Recently, large-scale programs (containing 5 and 3.5 Billion HBAR ecosystem development grants) have been announced to support application and protocol development initiatives. Such a tangible support will certainly put the project in a position to compete with other blockchains, such as Internet Computer (ICP), Solana (SOL), Avalanche (AVAX).
Current plans for the roadmap include:
Q3 2021
CUSTOM FEES
Q4 2021
HTS IMPROVEMENT FOR NFTS
FLEXIBLE TOKEN ASSOCIATIONS
REACT NATIVE SDK
Q1 2022
LONGER-TERM SCHEDULED TRANSACTIONS
SCALABLE SMART CONTRACTS
ADDITIONAL MIRROR NODE DATA SCALABILITY
SUSTAINED NETWORK PERFORMANCE OPTIMIZATION
ADDITIONAL NETWORK AUTOMATION
UPGRADED DEVELOPER PORTAL
