There’s no doubting the excitement in the founders and investors towards their DAG-based ‘gossip protocol’ they claim can potentially solve and replace all blockchain and scaling needs. The reality is that this hyper-fast, non-sequential ledger solution is not yet ‘out there’ — decentralised across the planet where it will be exposed to every possible attack and will likely take some time to get going.
However, it certainly has the funding and hype to be the next gen thing and is well worth watching when it hits the open market or when regular folk are allowed to invest in the Hedera token. It will apparently fulfil the need for secure micro-transactions as well as dapps with some ease.
Governance or control of this network codebase will be in the hands of the Hedera Hashgraph Council (a carefully-selected body of interested but competing companies) in a Proof-of-Stake system (including stake proxies) which all sounds fine and well conceived.
The PoS model promotes the fuel token itself to protect the platform, encourage hodling and usage, and discourage any trend towards manipulation and bad acting.
There are concerns over patented technology and non open-source approach right now. However, this is not to say that Swirlds, the founding company behind it, hasn’t put in a lot of effort in keeping open about the project, considering future developers will help make the things that will run on it and define it. The patent is likely a measure to prevent bad imitators, instability and forking that could detract from a desirable environment for the tech to start up and get going.
Nodes will also be open and encouraged, which will increase the robustness of the network once it’s live, which is also promising to hear.
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