Hedera Plans to Expand the Performance of its Blockchain

02/20/2023 01:47 • Digital Disruptors • 154 views

According to reports, Mance Harmon, co-founder and CEO of Hedera, revealed in a YouTube interview that Hedera’s 2023 road map plans to add community-run nodes in addition to the nodes run by the members of the board, so as to expand the performance of the blockchain. The next step is to add additional shards, which will help the overall network throughput.

Founder of Hedera: plan to add community nodes outside the council node to expand performance

Analysis based on this information:

Hedera Hashgraph is a decentralized public ledger technology platform that aims to make the Internet faster, fairer, and more secure. Its blockchain technology claims to deliver high throughput, fast finality, and fairness, which make it ideal for applications that require speed, security, and fairness, such as digital identity, gaming, supply chain, finance, and more.

According to reports, Mance Harmon, co-founder and CEO of Hedera, revealed in a YouTube interview that Hedera’s 2023 road map plans to add community-run nodes in addition to the nodes run by the members of the board, so as to expand the performance of the blockchain. This is a significant move for Hedera, as it will open up the platform to more developers and users, and enable them to have a say in how the platform is governed and operated.

Currently, Hedera is governed by a council of 39 organizations, including IBM, Google, Tata, Boeing, and more, who run the nodes that validate transactions on the blockchain. However, with the addition of community-run nodes, Hedera will be able to decentralize further and provide more opportunities for users and developers to participate in the network and benefit from it.

The next step in Hedera’s roadmap is to add additional shards, which will help the overall network throughput. Sharding is a technique that breaks up the blockchain into smaller pieces called shards, which can process transactions in parallel, thus increasing the capacity and speed of the network. This will be particularly useful for applications that require high throughput and low latency, such as gaming and microtransactions.

Overall, Hedera’s plans to expand the performance of its blockchain by adding community-run nodes and additional shards are a positive development for the platform and its users. By decentralizing further and increasing its capacity and speed, Hedera is positioning itself as a viable alternative to other blockchain platforms such as Ethereum, Bitcoin, and EOS.

In conclusion, Hedera’s commitment to improving its blockchain technology is commendable, and its plans to add community-run nodes and additional shards are a step in the right direction. As the platform continues to evolve and mature, it will be interesting to see how it competes with other blockchain platforms and how it is adopted by developers and users around the world.

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Hedera Plans to Expand the Performance of its Blockchain

Founder of Hedera: plan to add community nodes outside the council node to expand performance

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