What is Happening with Hedera Hashgraph lately?
Sophia Cruz • 1 min read
Hedera Hasgraph is a decentralized public network and governing council launched in 2017, owned and controlled by a global board of tech companies, including Swirlds Corporation, Google, Boeing, IBM, Deutsche Telekom, Tata Communications, LG and more. It is a next-generation blockchain, designed to meet the high demands of blockchain solutions. Its unique approach promotes a faster, secure alternative to proof-of-work consensus mechanisms.
HBAR, Hedera’s own native token, is used to supply decentralized applications, make payments and secure its own proof-of-stake network. With fast network transactions, minimal fees and a secured network, Hedera is already one of the most widely used sustainable public ledgers in the market today.
Innovations and Developments
Along with its growing council comes a new member, the Indian Institutes of Technology Madras (IITM). This new partnership will push IITM to advancing its technical education, research and innovation options in the distributed ledger technology (DLT). IITM has global expertise on practical and innovative technological solutions and will look into Hedera Consensus Service and Hedera Token Service for further groundbreaking alternative solutions.
Hedera Hashgraph is also eyeing development in the NFT industry, and it is integrating with Filecoin to improve its Web3 interoperability further. Filecoin will serve as an NFT storage layer for Hedera Hashgraph. As per the introduction, Hedera 10 Improvement Proposal (HIP 10) will tackle gaming assets, artworks, music, supply chain data, financial applications and more.
Is HBAR A Good Investment?
With its rival network, Solana’s setbacks and outage, Hedera Hashgraph has been exceeding market expectations over the last few weeks, rising by almost 100% from $0.24 to $0.49. HBAR coined the term the “trust layer of the internet”, due to a bullish trend. Of all these innovations and developments, Hedera shows that having a solid foundation is one of the primary keys to thriving in the crypto industry.