The two biggest problems that the blockchain is facing are:
Speed of transactions
Fairness of transactions.
Let’s see how the hashgraph matches up against that.
Speed of Transactions
Bitcoin right now manages 7 transactions per second, Ethereum fairs slightly better at 15 per second. Hashgraph claims to be doing 250.000+ transactions per second. So, what’s the catch?
Hashgraph currently operates on a permissioned, private-based network. What this means is that the number and identity of the nodes participating is known beforehand. This is why it is unfair to compare it to a blockchain which is public and non-permissioned, meaning there are no fixed number of nodes. As of writing, there is still no public and non-permissioned version of the Hashgraph available.
Fairness of Transactions
One of the most annoying problems of blockchain based currencies is the lack of fairness in transaction validation. Since the miners themselves manually put the transactions into their blocks, they will always choose transactions which favours them financially.
Each transaction has a certain amount of transaction fee attached to them. However, many times, most users will pay extra transaction fees in order to get special preference for their transactions and “cut in line” so to speak.
Hasgraph is the next 10-100x coin?
List of informative comment taken from YouTube, so you can get a little idea about it:
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Hedera went to Facebook and asked them to join their Governing Council and Facebook said “No, thanks”. An year and a half later, they came up with Libra…! It’s “The Network” movie story all over again. Hedera is different and different means unique… and unique is good. No other project acheves, at the moment, finality of transitions under five seconds. This means 100% sureness of transactions with math proof. As I said... unique! Hedera is also aimed at the enterprise level as they state oppenlly (it will come to you after going thru enterprises and not the other way, unless you have your iyes opened and look it up).
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I haven't come across any project as perfect as Hedera. My criteria of perfection is as below: 1- 100% regulatory complaint. Unlike TON which got shutdown by SEC 2- Has backing of top class geo distributed enterprises, like Google, LG Electronics, IBM, Boeing, Avery Dennison, TATA, Nomura, ULC, DLA Piper, Zain group, and many more. 3- Highly Secure network. ABFT, gold standard of distributed computing security. 4- scalable upto millions of TPS. Currently throttled to 10k TPS. 5- Fair, transaction are ordered to perfection. 6- No one can fork it, so extremely stable platform. I don't know what else we need for this platform to become backbone of trustless Internet in coming 10 years
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Hedera is one of the few legit projects in an ocean of scam crypto projects. The hashgraph consensus algorithm reaches the theoretical limit for security, and comes close to the theoretical limits of speed for a DLT. Combine that with a decentralized governing council made up of the largest companies in the world plus real use cases (such as Coupon Bureau and Adsdax) that actually make sense on a distributed ledger, and you have a platform that has the potential to be the market leader for distributed applications.
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Hedera is built from the ground up as an enterprise-grade dlt with mass adoption a real possibility - not necessarily to become another 'cryptocurrency'. Study 'Hedera Consensus Service' and you will see the many high-value, high-volume usecases made possible by using the base layer Hashgraph algorithm to provide Consensus-as-a-Service. All of the enterprises who own the Hedera Network (Google, FIS, LG etc) want to use 'HCS'.
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Few corrections wrt content of videos. 1- aBFT is not ONE of the most secure consensus. aBFT is THE MOST secure method of consensus. It's gold standard of distributed computing security 2- Blog shows older version of Governing Council members list. Since then 4 more major corporations joined Hedera. It's Google, LG Electronics, Wipro and UCL. 3- Hashgraph algorithm has solved the DLT trilemma. And incumbent technology like Bitcoin and Ethereum are yet to solve it and yet they are valued hundreds of billions of dollars. In next 2 year Hedera will be much valuable. Very conservatively it will be $3 USD.
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Just to clarify. Hedera have more than a 'partnership' with Google Cloud. 'Google' have become a governing council member which means they have signed an LLC and agreed to certain legal stipulations to become a partial 'owner' of the Hedera network (along with other multi-cap enterprises such as IBM, Boeing, Fisglobal, TATA, DeutscheTelekom, Wipro, Nomura and more). Each governing council member will run a node and are planning to bring huge use-cases to market.
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9:55 I have to say, extremely disappointed so far with this review. It was never about power, Google doesn't make money from this, neither does TaTa communications or any of the other members. Your average blockchains is extremely flawed with potential of forks; no one with any sense of reasons would build on a platform that can fork. They are doing this because we need a world network where we know no one can abuse and having experts of different markets from different around the world is how you accomplish this. Facebook tried to screw Hedera with their so-called decentralized network and that backfired. When I say this is the real deal, its the real deal. The sooner people realizes this, the less they'll keep getting scammed with most of the blockchain project out there, even the legit ones will make mistakes that won't be fixable. If you have any doubts, come back to this comment in 2 years, market will show enough evidence then.
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The code base will be for open review and open source by the end of this year.
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Hedera ticks all the checkboxes for me. I want a project that I’m fairly confident it will be around many years from now, I know 100% it’s not a scam, small market cap, potential to be in top 5. XRP went to $3.80 with a bigger circulating supply so I can see HBAR easily making 100x return down the road. It literally has the biggest names running nodes and being in the governing council.
Too big to fail?
This project is backup by Google, IBM, Boeing, LG and more...
So it not gonna fail easily..
Unless they got regulation problems with the government like Facebook has
https://www.youtube.com/watch?v=8SuSW5JY-2s
HBAR chart looks very similar to early ETH chart.
