Closed-source non-blockchain: Hedera Hasgraph (HBAR) in 5 🖐

What is @Hedera Hashgraph (HBAR)? 🏢

Hedera Hashgaph is a distributed public ledger that uses a different consensus algorithm than blockchains, the hashgraph, which is supposed to be faster and more efficient.

Every node participates in every round of consensus. Transactions are time-stamped, and fees are fixed.

Hedera Hasgraph features:

Hedera Hashgraph is closed-source software and is patented, but the application layer is open, and anyone can develop without paying a license.

The stated reason for not being open-source is to avoid the loss of network effects that forks would cause.

The protocol is steered by a Governing Council of 39 big corporations from diverse industries like Google, LG, Deutsche Telekom, Tata, Nomura, EDF, or Boeing.

Hedera will have permissionless nodes in the future, but right now, only members of the Governing Council can run them.

HBAR is the cryptocurrency used on the Hedera Hashgraph mainnet. It has a fixed supply. Most of it will come into circulation via staking rewards for the nodes.

There were several funding rounds in 2018 for a total of $120 mn.

Of course, this is not financial advice yada yada yada.

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