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Hedera Hashgraph Council Announces Public Ledger To Provide The Trust Layer For The Internet

By   /  March 16, 2018  /  No Comments

by Angela Guess

According to a recent press release, “The Hedera Hashgraph Council (Hedera) today announced plans for a new, next-generation distributed public ledger, the Hedera hashgraph platform, to enable anyone to easily develop lightning fast, secure, fair, globally distributed applications. Over the last 20 years, as the internet has evolved, trust has been eroded and control centralized in the hands of a few. Identity theft, cybercrime, spam, hacking, election manipulations, and digital spying have become the costs of living our lives online. Today, Hedera aims to change that with the release of a simple, powerful platform with robust API support to make it easy for developers to build global, distributed applications. ‘We need a more trusted, secure and equitable online world,’ said Dr. Leemon Baird, inventor of the hashgraph algorithm. ‘You should be able to carve out a piece of cyberspace to create a shared world, be confident when interacting with others, feel safe online, control how you collaborate, and share only the information you want. Today we lay out the roadmap for how Hedera will make that happen’.”

The release goes on, “With the unveiling of the Hedera hashgraph platform, the Council today also released speed test results, conducted on multiple Amazon Web Services (AWS) instances. The tests focused on achieving consensus on transaction order and timestamps for instances distributed across five continents. The Hedera network was able to handle hundreds of thousands of transactions per second, with time to finality within a few seconds. Hedera uses verification software that runs on the computer’s graphics card GPU to verify one million signatures per second. Such speed is crucial to enable use cases such as distributed gaming, stock and other markets, and micropayments.”

Read more at PR Newswire.

Photo credit: Hedera

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