Thursday, December 1, 2022

The Next-Generation Internet: Mance Harmon of Hedera Hashgraph

The Next-Generation Internet: Mance Harmon of Hedera Hashgraph

How do you structure a distributed application network in a way that keeps it open for all to utilize, but also appeals to mainstream enterprise users and investors? Mance Harmon, CEO and co-founder of Hedera Hashgraph, was keynote speaker at the Crypto Invest Summit in Los Angeles this week — Bitsonline stopped by after his presentation to ask a few more questions about his vision for the platform.

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Hashgraph: DApps, Governing Council, and a Token-Based Economy

Much of the conversation and activity at Crypto Invest Summit in Los Angeles revolved around ICOs and investment, so we were keen to ask Mance Harmon why it was necessary for Hashgraph to have its own token-based economy.

Hashgraph has its own native currency, a proof-of-stake utility token Harmon says will drive distributed app (DApp) usage and give holders of each token a vote in how the platform develops. How does that work in competition with other similar distributed computing networks with no currency at all? Is it necessary, or is it mostly a way to raise funds and capitalize on the recent ICO trend?

Another feature of Hashgraph is its plan for a “Governing Council” — which raises the question, why does a decentralized network actually need this kind of guidance? Harmon says it’s all about getting input from the various industry sectors and world regions Hashgraph serves, rather than giving all powers to miners and software developers a la other cryptocurrencies.

Want to find out more about the project? Check out the entire interview above.

What do you think of Hedera Hashgraph and its model? Let us know in the comments section below.

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