Blockchain Announcements

Hedera Hashgraph Launches Public Mainnet Beta; HBAR Token Distribution Commences

Hedera Hashgraph, a third generation blockchain, officially confirmed the launch of its main net beta platform on its website on Sept. 16. The blockchain, Open Access, is now available to the public to create accounts and developers can deploy and execute smart contracts on the Hedera Platform.

The platform has already made partnerships with some of the large blue chip companies including Boeing, T-Mobile, IBM and a couple of executives in big traditional companies are in its governing council.

At launch of the public beta, a total of “13 geographically dispersed main net nodes” will be controlled by the Governing council. The CEO and co-founder of Hedera Hashgraph released a statement on the launch of the public main net beta,

“We are excited for everyone to use the dapps that are already live with us today at Open Access, and the many more building on us that we look forward to seeing launch in the coming weeks and months.”

Hedera Team to Start Distributing HBAR

Following the launch of the Open Access, the council management (Treasury) kicked off the distribution of its tokens, HBAR.

The first batch, which totaled close to 379 million HBAR tokens have been released to the investors who participated in the three-round public sale last year. The second round of distribution is set to continue for 24 hours following the completion of the first round.

The 1.9 million HBAR will be distributed to advisors, the development team, vendors, and participants in the early mainnet release in December 2018. The remaining 3 billion HBAR tokens will be released over the course of the next 15 years according to a structure by the governing council.

On Hedera Hashgraph future

According to the report, the platform is yet to fully integrate features hence the ‘beta’ tag. One of the highly awaited features, Hedera Consensus Service (HCS), is expected to be added in the coming weeks. The Hedera blockchain is public but with the completion of the HCS platform, users can link private blockchains and the Hashgraph.

It allows a hash of transactions from another network to be ordered in the Hedera network by time, showing a searchable record of when transactions occurred with the trust of a decentralized network.

Similar To Ethereum?

Despite the promise by the team to offer users transaction speeds not seen before on a blockchain – over 10,000 transactions per second – one critic, Eric Wall, the former blockchain lead at Nasdaq-owned fintech vendor Cinnober, claimed not all transactions are capable to be completed as stated. He writes,

“A dapp requires smart contracts and since Hedera is currently throttling 10 transactions per second with smart contracts, then it doesn’t make this any more interesting than Ethereum.”

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