Hadera Hashgraph launches mainnet, hopes to compete with global business networks

Hadera Hashgraph launches mainnet, hopes to compete with global business networks





Hedera Hashgraph, an electronic public ledger developed for corporate use, launched its mainnet beta today, allowing developers to create an account and build decentralized applications (dApps) for it.

The distributed ledger technology (DLT) is a direct competitor to blockchain distributed ledgers such as Ethereum and Hyperledger, and claims it can outperform traditional financial and business networks.

“There is no direct equivalent to Hedera Hashgraph today,” said Martha Bennett, a principal analyst at Forrester Research. Hadera is potentially competing with public networks and all the enterprise DLT frameworks (such as Hyperledger Fabric & Sawtooth, R3 Corda, and others) and their commercial providers, which include AWS, IBM, Microsoft, Oracle.

At the same time, Hedera has garnered support from telecom players and tech vendors, even those that their own blockchain services. Indian tech giant’s Tata Communications, IBM, Deutsche Telekom, FIS Global, which acquired WorldPay earlier this year, and more than 30 other international companies have joined the startup’s governing council.

Once the beta is completed, and the public has open access to the ledger on Sept. 16, the Hedera Hashgraph network will offer its “hbar” cryptocurrency, which the start-up said can achieve to 10,000 transactions per second on the network.

“Transactions per second,” Bennett said, is a term that’s almost meaningless because while you can feed transactions onto a network at a high rate, that means little unless they can also be finalized quickly.

Hbar coins will be available through crypto exchanges. Hashgraph will also offer smart contract applications and a file storage service; both will be able to handle up to 10 transactions per second to start “and increasing systematically throughout the remainder of 2019.”

“Essentially, transactions that take place on the network can also be stored easily on the network in a decentralized way,” said Steve Koshansky, the company’s director of business development. “File storage will probably take a little longer to be robust enough to serve major enterprise needs, but it will be available at launch as well.”

Copyright © 2019 IDG Communications, Inc.






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