High-performance blockchain Hedera Hashgraph is reporting that it now is topping 1.5 million transactions a day – surpassing the popular Ethereum blockchain. Hedera notes that this is approximately 18x the number of transactions Ethereum achieved during its first year as a publicly available network.
As most people know, some blockchain iterations simply do not cut it when it comes to real world performance. A sustainable blockchain must be able to perform to the level that enterprises need both today and in the future.
Hedera says that dozens of applications have gone live with the network with new applications being launched regularly over the last twelve months.
These “enterprise-grade” applications include a diverse range of industries including DeFi and supply-side management and more
During its first year as a publicly available distributed network, Hedera said it averaged approximately 750,000 transactions per day, almost the same as the Ethereum network over the past year. The 1.5 million per day has been booked during the past month.
Hedera notes that unlike other public decentralized networks its network fees do not fluctuate significantly as network utilization grows. The Hedera Hashgraph transaction fees are set in fiat (USD), but paid in HBAR, and the exchange rate between fiat and HBAR is aggregated from multiple sources and updated regularly to reflect current market rates. This is designed to remove cost uncertainty between users.
Hedera states that today there are 47 HBAR on-ramps – including exchanges, software and hardware wallets, OTC desks, and those that provide the infrastructure to purchase HBAR, but don’t enable purchases directly.
A more extensive list of wallets, exchanges, and on-ramps can be found at https://www.hedera.com/buying-guide.
Various integrators, including four of the top ten global system integrators and trust2core (T-Systems International), LaunchBadge, LimeChain, Luther Systems, Rejolut, Swisscom Blockchain, TxMQ and Unibright, are said to have completed or are actively developing projects, including with enterprises and other organizations building applications on the Hedera network.
Of note is that Hedera is a founding member of the InterWork Alliance, a non-profit dedicated to establishing a standards framework for the tokenization of assets, and joined W3C as a member organization, registering the standards-based Hedera DID Method to the W3C Credentials Community Group’s Decentralized Identifier (DID) registry.
Hedera’s Governing Council includes members from; Avery Dennison, Google, LG, University College London (UCL), Wipro, and Zain Group. They join Boeing, Deutsche Telekom, DLA Piper, FIS (Worldpay), IBM, Magalu, Nomura, Swirlds (developer of the hashgraph algorithm), and Tata Communications.
Leemon Baird, co-founder and Chief Scientist of Hedera, commented on the update:
“We are thankful to the Hedera community as we complete year one of our 100-year journey. None of this would be possible without our committed developers, advocates, ecosystem partners, and Council members. We make it our mission to enable you, as simply and efficiently as possible, to leverage Hedera Hashgraph as the trust layer of the internet. While there is much work to be done, we are proud of what this community has accomplished in just a mere 365 days, and are excited to build on this growth in the year to come.”