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BUIDL with Hedera Hashgraph at ETHDenver 2021

Curious about BUIDLing at ETHDenver & ColoradoJam 2021 with Hedera Hashgraph? Get the scoop from their recent interview with ETHDenver:

What Is It?

“Hedera is a public network that’s built on the Hashgraph consensus algorithm. Hashgraph was invented by Hedera’s CTO and co-founder, Dr. Lehman Baird.

Hedera is notably owned by a number of the largest enterprises in the world, including Google and IBM and Deutsche Telekom. And so Hedera has some unique performance characteristics, being able to do 10s of 1000s of transactions a second, really low fees, and we’re actually about to launch our new token service.”

How to Use It

“So I’m very excited to be at ETHDenver and talking to you about everything that we have going on. The data is really unique; we have a variety of SDK available in Java, JavaScript, NGO, Rust, and a few other languages. So you actually don’t really need to be an expert Solidity developer to be able to get started on Hedera and use our APIs, which is really exciting. For those beginners out there, it’s definitely an easier entry point. But for you know, more senior engineers, or those who are web three native or, you know, have been in the space for a while, we’re looking at a variety of really interesting technical challenges, whether they’re interoperability solutions, validator and layer two networks, different types of encryption and privacy models, whether those are with zero knowledge proofs or just kind of fancy encryption. So there’s definitely a lot of opportunity in ways that we would like to see people use a Hedera throughout ETHDenver!”

Why Use It

“Hedera has a very unique solution in the market where it does 10s of 1000s of transactions a second for fractions of a penny. So if you’re using anything on Ethereum, but you want to do something with micro payments or something with low transaction times. And some of the existing layer twos don’t really work for you, I think that there is a unique opportunity for Hedera to act as a layer two. But unlike, you know, existing layer twos, you have the whole security of the Hedera network acting as a layer one, but still giving you those performance characteristics. So using Hedera as a layer two and kind of a general way, I think is really, really interesting.

Whether it’s from micro payments or identity credentials, or you know, different types of supply chains, all really kind of makes sense where you can, you know, anchor things on to Ethereum, go over the bridge to Hedera [and] log a lot of transactions at higher throughputs than you could on Ethereum, and eventually settle those back on to the Ethereum network. So using it as a layer two is really interesting!

We also have a version of native cryptocurrency that just launched. And so integrating that into your DeFi applications, using it, as you know, a collateral or liquidity option, is definitely exciting as well. So those are probably the trends that I’m excited about. And you know, there’s a lot of use cases within those.”

What’s Something Exciting Hedera Is Working On?

“The Token Service is one of the newest, and arguably the most exciting offerings, that Hedera has had. It’s really easy to use a set of APIs for creating, and managing, and doing a lot of the operations around different types of tokenization that you might need. It has both fungible and non fungible tokens. And you can program these in Java or JavaScript or go to any of those programming languages, or implement it in a new programming language that we’re not yet supporting. And we have really nice built in features on chain for doing compliance features and administration optionally. So if you do want to kind of have approve, or denialists on tokens acting as like a KYC requirement, you can optionally do that if you want to leave it empty, you don’t have to, has really nice built in features for you know, minting, burning, hopefully, eventually staking slashing any of those types of operations as well. And it makes it really easy if you are a large business or a regulated entity that wants to launch a token, but isn’t really sure how they can do that in a secure or regulatory compliant way. We’re very excited about that. The token service is actually right now on our public test network, as well as our preview network, and we’re expecting it to hit our main network in the next couple of months, probably sometime in February, hopefully.”

Meet the team and learn more about Hedera Hashgraph at ETHDenver & ColoradoJam 2021, February 5–12! Apply today at ethdenver.com.

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ETHDenver

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A community #BUIDLing the decentralized future • bufficorn.eth • Feb. 11–20, 2022 • Apply: http://ethdenver.com • #ETHDenver #BufficornBUIDLBrigade #ColoradoJam