When I first heard about Mance Harmon (CEO and found of Hedera Hashgraph) I knew he was going to be a smart guy… and the reality did not disappoint me. I learned a lot about what he is doing from the new Uncensored Crypto documentary (9-part series that dives DEEP into all of this stuff!)
What Mance and his partner have created is a distributed ledger technology that is orders of magnitude faster than traditional blockchains.
Mance’s thoughts on the crypto universe as a whole were certainly educational. I researched a bit more about what they are trying to do at Hedera Hashgraph.
The Problem with Proof-of-Work Protocol Blockchain
I know very little about blockchain technology. I do know that bitcoin was the pioneering platform for the decentralized infrastructure and then Ethereum took that to the next level with functionality via programmability.
The problem with these systems is that they are super slow – they have to be in order to work. This leads to expensive fee’s and uses a lot of energy just processing transactions.
Hedera uses a proof-of-stake protocol. They have only been running for 20 months but have far exceeded the number of transactions that Ethereum has done in 6 years.
Hedera might well be the next level! The speed and low energy consumption makes it a very exciting alternative to Ethereum. These factors, combined with extremely low fee’s, put Hedera at the forefront of the future of public ledgers.