Hedera's Implementations comes at the Cost of Decentralization, Cynics assert

Midhat Ali Shaikh by Midhat Ali Shaikh - 01:09 PM Sep 20, 2019
hederas-implementations-comes-at-the-cost-of-decentralization-cynics-assert

Hedera's Implementations comes at the Cost of Decentralization, Cynics assert 


The US-focussed blockchain company, Heders Hashgraph initiated its manner on Sept 16. And some giant companies came forward to support it. Still, some cynics say it's blockchain's recent version foes not contain the chief attributes that ensure decentralization.

Hedera  Claims to Carry Out 10K Transactions Per Second 


Hedera affirmed that it can handle 10,000 transactions per second tps. Unbelievable pace as compared to Bitcoin that can handle 2.8 tips. Whereas,  Ethereum can carry out about 15 tsp. So, how can Hedera handle that much figure of transactions per second? For instance, if we consider Ripple, it claims to process 50,000 tps and compete with Visa, but it executes a decentralized network.


Hedera uses its own algorithm named Hashgraph. Chief scientist and co-establisher of Hedera, Leemon Baird invented Hashgraph. He is a PhD holder in computer science, also a professor at the US Air Force Academy. However, Hashgraph algorithm does not want miners to validate blockchain transactions. As it executes directed acyclic graphs (DAG). IOTA uses this prior-mentioned technology and is very distinct from common blockchain, as it does not keep transaction records in a single-line chain.


As for the consensus mechanism, Hedera depends on asynchronous Byzantine-Fault Tolerance (aBFT) consent.


Hedera proclaims that its DAG technology and aBFT consent reinforce the incredible speed of transactions. Nonetheless, as per the one-time crypto lead at Cinnobe, Eric Wall, Hedera's performance comes at the cost of decentralization.


Also, he stated that there is no concern of Hedera's performance with its DAG technology and consensus mechanism. He went on saying:


But no, that’s not it. It had nothing to do with it. They just traded off your ability to validate the system so they could run a smaller network with high TPS. This is the super-classic trick, I’m surprised it worked in 2019. But it worked because of those few tweaks above.”

Furthermore, he claims that Hedera's claim of processing 10,000 transactions is the misimpression statement.

HBAR Token Goes Live


On the whole, Hedera's token goes live with the ticker HBAR with the net supply capped at 50 billion tokens. Hedera's institution is allotting the tokens.  A large group of crypto exchanges are ready to list HBAR on their platforms. And this inclusive of Bittrex, Upbit, OKCoin, and Galaxy Digital and others.


Now, anyone can open an account on Hashgraph and build a decentralized app (app).

About The Author
Midhat Ali Shaikh

Midhat Ali ShaikhMidhat ali shaikh is a freelance content writer and is involved with renowned organization named knovatek pvt. ltd. also serving for vmatchu and nghostings

Comments

Share On Social Media!

Enter Shared Link

Enter Shared Link

Enter Shared Link

Enter Shared Link

Enter Shared Link