The public network from Hedera Hashgraph has now been launched, with the promise of easily surpassing any transaction speeds held by currently available blockchain networks. Hedera ran a test for its network from December 2018 before releasing the beta. Now, the platform is thrown open to the public and any one can sign up and further use the network for building decentralized applications (DApp).
As part of the launch, the Hedera Network will also be distributing its HBAR tokens to several categories of people. Firstly, investors who were a part of the March to August 2018 crowd sale, will receive about 379 million tokens while other participants and advisors will receive 1.95 million tokens. The rest of the total number of HBAR tokens (50 billion) will be released systematically by the Hedera governing council for the next 15 years. HBAR trading will also go live on 12 different platforms including Upbit, Galaxy Digital, xFutures, Bittrex, Bering Waters, BitOoda, Liquid, OKEx, OSL, GSR, AlgoZ and OKCoin.
The hashgraph is a distributed ledger technology (DLT) different from a blockchain as its consensus is arrived at in a different way. According to Mance Harmon, the Hedera CEO:
“This is the first instance globally of hashgraph being put to the test. It’s a different data structure, different technology and looks nothing like a blockchain, but solves the same kinds of problems with better security and better performance.”
The Hedera network also boasts that it can complete 10,000 transactions per second, much faster than Ethereum’s 15/s and Bitcoin’s 2.8/s.
Image Credits: Pixabay
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