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AdsDax achieves over 10 million transactions on Hedera Hashgraph based on over 100m events

SWANSEA, U.K., Oct. 16, 2019 /PRNewswire/ -- AdsDax, an advertising platform powered by distributed ledger technology (DLT), has passed a major milestone, executing over 10 million transactions on Hedera Hashgraph since the network opened access to its mainnet beta a month ago. AdsDax has been using Hedera Hashgraph to track and verify advertising events for large enterprises, as well as executing real-time payments based on the data received. Since opening access of the Hedera mainnet, AdsDax has recorded over 103 million ad events, resulting in over 10 million hbar payments. Ian Mullins, founder and CEO of AdsDax, said, "This is a major milestone for both AdsDax and Hedera. Reaching over 10 million real payments is a massive success, but to do it so quickly showcases not only the potential of the hashgraph technology but also validates the speed, scalability and robustness of the AdsDax platform to reinvent the ad industry. Hedera Hashgraph has proven it has the scale, speed and reliability to handle the live advert tracking data that we have been handling in recent campaigns." Working with Hedera, AdsDax has been tracking millions of live events from programmatic advertising in real time, allowing advertisers and other stakeholders to see engagement and use this information to make informed decisions and manage budget more efficiently. Full story available on Benzinga.com

How Hedera DLT Operates

Bitcoin is the first generation of decentralized technology while Ethereum is the second generation in this category. These technologies pioneered the decentralized infrastructure and programmability in blockchain. Both of them are based on the proof-of-work blockchain that is known to consume lots of energy. They also execute and carry out transactions slowly to deliver acceptable levels of security. This heavy consumption of bandwidth by the technologies results in expensive costs that prove to be too much for a simple cryptocurrency transaction. Nonetheless, the Hedera proof-of-stake public network enjoys the most exceptional grade of security possible (ABFT). It is backed by a Hashgraph algorithm that supports extremely fast transaction speeds while simultaneously consuming significantly low bandwidth. Hedera is the ultimate leader in the future of public decentralized ledger technology. It merges outstanding throughputs and low fees. Years ago, broadband technology became recognized as an integral element that resulted in the early adoption of the internet. Comparatively, there is a declaration that the third-generation blockchain is certainly the broadband instant for cryptocurrency. With many innovations coming up like Facebook’s Libra, there is no doubt that the third-generation era is coming in. Unlike all the other virtual currencies, the Libra stablecoin might successfully operate as a global currency and have a stable nature. The stable nature of this crypto has made many financial authorities to consider it a threat and has made them oppose the progress of the new technology. But, the crypto space anticipates the launch of Facebook’s Libra project. DApps on Hedera Currently, the Hedera network has integrated at least 500 decentralized companies’ apps that range from innovative startups up to global enterprises. Among these companies, the most notable ones include Carbon, Zeux, Zabo, Armada, Certara, Earth.ID, Attestiv, Binsignia, Block.Red, Otarfy, earth tile, Power transition, Ads Dax, Alto, Tune.fm, and ecclesia. Although Hedera Hashgraph is just at its starting point, its power and potential are already quite clear. With its design and operation strategies, the ledger system has all the ability to become the future of decentralized ledger technology. Like what you're reading? Subscribe to our top stories The post How Hedera DLT Operates appeared first on Cryptovibes.com - Daily Cryptocurrency and FX News.

Hedera Hashgraph (HBAR) Demystified

Hedera is described as a decentralized public network that customizes the digital world in unique ways. It enhances the blockchain experience for developers since it lets them produce fast, fair, and secure applications. Chief Scientist Mande Harmon and Dr. Leemon Baird are the people who invented Hedera Hashgraph. They reportedly developed this groundbreaking invention through their experiences and expertise that they acquired from the US Air Force Academy, Trio Security, Swirlds, and BlueWave Security. Hedera is designed to use Hashgraph. It is a better DLT (Distributed Ledger Technology) alternative when compared to the traditional blockchain DLT. Thus, it is suitable for high scale and mainstream use. The platform enables users to interact and transact online efficiently and securely.  It does not involve any third-party intermediaries that may compromise the sensitive information provided by the user. Difference between Hedera Hashgraph and Blockchain In the case of blockchain, it is incapable of handling the degree of scaling needed by the mainstream markets. Most of the large scale systems need to have the capacity to facilitate hundreds of thousands of transactions within every second. However, the existing blockchain networks have no sufficient infrastructures to carry out such duties. On its part, Hedera’s network can support up to 10,000 transactions per second using the most secure and efficient methods. Hashgraph is believed to be Asynchronous Byzantine Fault Tolerant (ABTF), unlike all the other blockchain consensus mechanisms. Therefore, it is extremely secure from attacks such as DDoS and Sybil. Hedera is convinced that the consensus mechanism possessed by the other DLTs is insufficient in the provision of these security measures. Moreover, many public blockchains have minimal or no technical controls to make important decisions. That could result in challenges if something goes wrong with the system. Most users also think that public DLT systems must be operated by highly regarded representatives from various sectors. Nonetheless, in Hedera, there is a definite governance structure that is responsible for reviewing types of alterations of the platform codebase. The governance structure is also responsible for electing the board managers and maintaining power equilibrium in the system’s corporation. Hedera is convinced that strong security and effective governance is essential in the sustenance of a stable system. The Hedera Hashgraph strives to offer a stable, efficient, and trustworthy platform for use by the enterprise-grade applications. It is not meant to serve as a cryptocurrency. Nonetheless, just like all the other DLTs, a crypto token is important for the network to function. What is HBAR? That is the native crypto for the Hedera platform. It is designed to serve two functions in the network: It is designed for Network Protection: All the Hedera proof-of-stake public networks use HBAR tokens that are staked to network nodes. They operate in a bod to weigh network votes on transactions whenever reaching a consensus. It is also a Network Fuel that is used by developers to pay for network-related services. Some of these services include file storage and smart contract operation. HBAR is also used by developers for exchanging cryptocurrency. For each transaction completed on the network, the HBAR tokens are used to pay and incentivize network nodes. Developers can also use these tokens by integrating them into applications to create micropayments and peer-to-peer payments business models. Weighed network voting using the HBAR tokens make it quite expensive and hard for the bad and malicious actors to manipulate consensus. Advantages of Using HBAR Tokens There are several advantages associated with using these tokens. The finality of these transactions is done in seconds. All Hedera’s HBAR transactions attain finality on the transactions within three to five seconds as compared to the Ethereum and Bitcoin platforms that take thirty to fifty seconds and one minute respectively. Low Fees: Hedera’s Hashgraph consensus is quite lightweight which makes the cost of every BAR transaction to be significantly small around $0.0001 U.S. Dollar. The low transaction cost combined with a high throughput makes the HBAR micropayments a reality. The outstanding throughput is another advantage associated with the Hedera network which can support 10,000 HBAR token transactions in a second. These transactions are facilitated in a shard and on-ledger without compromising the stability and security of the network. HBAR Economics The Hedera treasury launched the distribution of the HBAR tokens on September 18, 2019. Reports revealed that the first 379 million tokens are reserved for the investors that participated in the three-round $124 million capital raise. This capital raise took place between March and August 2018. Furthermore, $1.95 million worth of tokens were allocated for being distributed among vendors, advisors, and other participants. The remaining 50 billion HBAR tokens are scheduled for release in the next 15 years by the Network’s Governing Council. This 15-year token release period will guarantee total protection of the Hedera proof-of-stake public network. According to the developers, this wide distribution of the HBAR tokens will enable Hedera to achieve its set vision of ‘maximum decentralization at scale.’ The HBAR token is expected to be listed for trading on 12 crypto exchanges that include Upbit, GSR, Bittrex, OKEx, AlgoZ, Bering Waters, Liquid, BitOda, OKCoin, xFeatures, Galaxy Digital, and OSL. It has also been already listed for trading via over-the-counter (OTC) desks. HBAR Proxy Staking Developers and end-users can purchase HBAR tokens from third-party companies and platforms. Some of these third parties include exchanges and several other transactional bodies that have chosen to get integrated into the ecosystem. Once a user gets these tokens, they can use them to pay for goods and services and also pay their application transaction fees. The user can also proxy stake the token to a Hedera network node. Proxy staking is a feature that is yet to be released but when functional it will ensure the sustenance of the security and integrity of Hedera’s network operations. Simultaneously, it will provide the proxy stakes with a small segment of the transaction fees. Hedera Governing Council Hedera operates a governing ecosystem that is referred to as the ‘Governing Council’. The Council comprises of recognized entities like TATA Communications, IBM, Nomura, FIS, Deutsche Telekom, Boeing, Swirlds, DLA paper, Magulu, and Swisscom Blockchain. This Governing Council is created in a manner to sustain a reliable rotating council of roughly 39 enterprises that are handpicked from various geographies and industries. The primary purpose of this system is to maintain power equilibrium always. The Council has the following functionalities: It is expected that many public nodes will join the Hedera network to support and enhance its decentralized consensus and growth. The Council sets up the initial network nodes on the underlying public network after extensive screening is done. The members who make up this Hedera Governing Council share equal votes and are actively involved in determining the direction taken by the codebase software. They vote for thousands of public nodes and the platforms’ codebase. Every member of this Governing Council is entitled to a 3-year maximum term and can only have a total of 2 successive terms. They also have equal voting power on the network and platform decisions. However, Swirlds Corporation has a different term since it is the creator of the Hashgraph algorithm. It has a permanent seat and an equal vote in the council. The Hashgraph consensus algorithm is proprietary featuring an open review code. This network together with its native crypto has a no-fork warranty. This strategy and ecosystem sustain the stability of development for application builders and guarantee long-term confidence in the Hedera network. The Hedera network is designed to maintain decentralization by separating governance from consensus. It is perfectly designed in a manner that guarantees that the Governing Council maintains a competent nature always. The Governing Council is tasked with the responsibility to give directions to the platform and also the public network node codebase. The council manages treasury to guarantee network safety. It also controls mutability to address all data and legal compliance and offers legal requirements aimed at serving global markets. Like what you're reading? Subscribe to our top stories The post Hedera Hashgraph (HBAR) Demystified appeared first on Cryptovibes.com - Daily Cryptocurrency and FX News.

Power Transition to energize the Hedera Hashgraph

The Power Transition peer-to-peer energy trading platform has launched a Dapp on Hedera Hashgraph. The company’s microgrid management platform is designed to transform the way energy is used, managed and traded.

Hello Future - Is Hedera Hashgraph a blockchain killer?

Hedera Hashgraph is an enterprise-grade distributed ledger platform. After years of development, Hedera came out of stealth mode and launched the public beta of its mainnet in September. The Hedera team describes the Hashgraph as a 3rd generation public ledger (they refer to Bitcoin as 1st generation and Ethereum as 2nd generation). Hedera claims the Hashgraph can process up to 10,000 transactions per second, an order of magnitude faster than current blockchains. Hedera say they’ve solved blockchain’s scalability problem. Have they? Let’s try and find out...
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Brave Blockchain and Privacy Browser Scores 8 Million Active Monthly Users

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Privacy-focused Brave browser boasts 8M monthly active users

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