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HBARMY HQ - Everything About HBAR Here - Q&A Articles Information - Open to Everyone to Post
- Thread starter MortgageHorn
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If you don't mind me asking, what's your holding on HBAR? I'm dipping my toe back into crypto after a several year absence. Just curious how all-in I should go.
TIA.
TIA.
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HUGE
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Are You Asking Me?
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Dallas, TX - January 19, 2022 - The Hedera Governing Council has voted to purchase the intellectual property rights to the hashgraph consensus algorithm from Swirlds, Inc., the original creator of the hashgraph consensus algorithm and founding member of the Hedera Governing Council. The Governing Council members further made a commitment to make the code open source under Apache 2.0 license in 2022. The Governing Council members have voted to take this step to enable broader community participation. In addition, Hedera believes technical controls are in place to ensure that the Hedera network state cannot split, so the hashgraph patents are no longer needed to be able to be used defensively to protect Hedera ecosystem participants. The open sourcing of the consensus layer will serve to further accelerate its development and expand the number of contributors. The Council members also announced that the network code will be out of beta with the next mainnet upgrade.
The Governing Council members are a diverse group of leading enterprises and organizations that collectively promote the advancement of the Hedera network technology and determine allocation of the Hedera treasury, as evidenced by the recent announcement of the allocation of 10.7 billion hbars (approximately 20% of total supply) towards the expansion of the Hedera ecosystem and HBAR economy. Governance has continued to grow from the original five members to the current 25, with these diverse, distributed Council members participating in running the network nodes, governing the network, and recruiting new Council members.
“The vision has always been for Hedera to be a council-member driven organization, enabling the most decentralized governance and therefore broadest-reaching public network on the market,” said Scott Thiel, Partner at DLA Piper, one of the original Governing Council members. “We believe now is the time to enable the fastest adoption possible of the Hedera network, to capitalize on growing demand for public DLT.”
As such, the Council members have also made decisions that enable broader market participation by both startups and enterprises. The development and management teams and related personnel currently employed by Hedera Hashgraph, LLC will move to Swirlds. Mance Harmon, CEO of Hedera Hashgraph, and Dr. Leemon Baird, Chief Scientist of Hedera Hashgraph, will leave those positions, which are being dissolved, and will continue to participate in the Hedera ecosystem as peer members of the Governing Council through Swirlds, where they are CEO and CTO, respectively. In addition, Dr. Leemon Baird will continue to serve as Co-Chair of the Hedera Council’s Technical Steering & Product Committee, which is responsible for technical and roadmap decisions affecting the Hedera network, and Natalie Furman, who is resigning from the position of General Counsel at Hedera Hashgraph to lead legal efforts at Swirlds, will continue to participate as one of the member representatives in the Council’s Legal & Regulatory Committee. Tom Sylvester is being promoted from Associate General Counsel to General Counsel at Hedera Hashgraph.
“From day one, I have had a vision to enable ‘Shared Worlds’, where anyone can gather, collaborate, conduct commerce, and control their own online footprint,” said Dr. Leemon Baird, CTO of Swirlds and Co-Chair of the Hedera Council’s Technical Steering & Product Committee. “With the completion of V1 of the network code, open sourcing of the hashgraph algorithm, and an engaged Council making key decisions about the future of the network, the foundation of that vision is complete. The next challenge is for the broader community to develop products and services beyond the Layer 1 protocol, to deliver products and services that enable others to leverage the power of the Layer 1 protocol to create value. Swirlds is the best place for us to work on that, while fostering an ecosystem where all can participate equally.”
“Under high uncertainty and growing complexity economies, knowledge- and technology-intensive industries can maintain sustainable growth only by promoting open models of highly interactive and collaborative, multidisciplinary and multidirectional innovation. Innovation ecosystems are generally difficult to build because they are characterized by open non-linear dynamics, high receptivity to feedback loops, and persistent structural transformations,” said Prof. Paolo Tasca, Executive Director University College London, Centre for Blockchain Technologies, the first academic partner to join the Hedera Governing Council members. “I believe in non-hierarchical governance models which enable self-adaptability to rapid change via multilateral cooperation between innovators, developers, industry and academia. Therefore, I praise the Hedera team for their majestic work towards the broadening of the Hedera innovation ecosystem through open sourcing the consensus layer and further governance decentralization.”
The Hedera Governing Council has also entered into an agreement to outsource several essential services to Swirlds for the foreseeable future as the Council focuses on core network governance, industry standards, public policy, and treasury management.
“Achieving V1 of the Hedera network code is an important milestone for the Council and community, providing a robust network for anyone, anywhere in the world to build and deploy decentralized applications,” said Saiprasad Raut, Chief Technology Advisor, Crypto & Emerging Business for Worldpay from FIS, and Co-Chair of the Hedera Council’s Technical Steering and Product Committee. “And purchasing and making open source the underlying hashgraph algorithm will ensure that network development continues to be collaboratively produced, shared freely, published transparently, and developed for the good of the community. The ongoing collaboration between members of the Council, including Swirlds, gives us the best structure to facilitate exponential growth of the world’s most advanced public ledger infrastructure.”
“The towering importance of trust & transparency has become more critical than ever as digital technologies prodigiously tether us all with each other & our items,” said Pradeep Iyer, Ph.D, Research Fellow, Materials Group for Avery Dennison. “Recent pivotal organizational changes within Hedera hold the promise to seamlessly scale & secure a public DLT platform, catalyzing ubiquitous adoption. I see exciting opportunities to provide trusted tethers between physical items & their digital identities, for example, to accurately measure & mitigate environmental impact and help achieve ESG goals.”
The Council is also pleased to announce that Brett McDowell was unanimously elected by the Board of Directors for a two-year term effective January 1, 2022, as the first Chair of Hedera Hashgraph after serving ex officio in that capacity since the founding of the Council in February of 2019.
“It is an honor to be entrusted with this responsibility,” said McDowell. “The Governing Council has made meaningful progress over the past three years, growing from the initial five members, to now, twenty-five members across different industries, and geographies. I am excited about the changes being made by the Council at the beginning of the year, positioning the Hedera network for unprecedented growth in 2022.”
Dr. Leemon Baird, Mance Harmon, Saiprasad Raut, and Brett McDowell will host a webinar on Wednesday, January 26th at 8am PT/11am ET to further detail the Shared Worlds vision to be built on the Hedera network. Participants can join at: Hedera - YouTube.
About Hedera
The Hedera network is the most used, sustainable, enterprise-grade public ledger for the decentralized economy. The platform is governed by a council of the world's leading organizations, including Avery Dennison, Boeing, Chainlink Labs, Dentons, Deutsche Telekom, DLA Piper, EDF (Électricité de France), eftpos, FIS (WorldPay), Google, IBM, the Indian Institute of Technology (IIT), LG Electronics, Magalu, Nomura Holdings, ServiceNow, Shinhan Bank, Standard Bank Group, Swirlds, Tata Communications, University College London (UCL), Wipro, and Zain Group.
For more information, visit www.hedera.com, or follow us on Twitter at @hedera, Telegram at t.me/hederahashgraph, or Discord at www.hedera.com/discord. The Hedera whitepaper can be found at www.hedera.com/papers.
The Governing Council members are a diverse group of leading enterprises and organizations that collectively promote the advancement of the Hedera network technology and determine allocation of the Hedera treasury, as evidenced by the recent announcement of the allocation of 10.7 billion hbars (approximately 20% of total supply) towards the expansion of the Hedera ecosystem and HBAR economy. Governance has continued to grow from the original five members to the current 25, with these diverse, distributed Council members participating in running the network nodes, governing the network, and recruiting new Council members.
“The vision has always been for Hedera to be a council-member driven organization, enabling the most decentralized governance and therefore broadest-reaching public network on the market,” said Scott Thiel, Partner at DLA Piper, one of the original Governing Council members. “We believe now is the time to enable the fastest adoption possible of the Hedera network, to capitalize on growing demand for public DLT.”
As such, the Council members have also made decisions that enable broader market participation by both startups and enterprises. The development and management teams and related personnel currently employed by Hedera Hashgraph, LLC will move to Swirlds. Mance Harmon, CEO of Hedera Hashgraph, and Dr. Leemon Baird, Chief Scientist of Hedera Hashgraph, will leave those positions, which are being dissolved, and will continue to participate in the Hedera ecosystem as peer members of the Governing Council through Swirlds, where they are CEO and CTO, respectively. In addition, Dr. Leemon Baird will continue to serve as Co-Chair of the Hedera Council’s Technical Steering & Product Committee, which is responsible for technical and roadmap decisions affecting the Hedera network, and Natalie Furman, who is resigning from the position of General Counsel at Hedera Hashgraph to lead legal efforts at Swirlds, will continue to participate as one of the member representatives in the Council’s Legal & Regulatory Committee. Tom Sylvester is being promoted from Associate General Counsel to General Counsel at Hedera Hashgraph.
“From day one, I have had a vision to enable ‘Shared Worlds’, where anyone can gather, collaborate, conduct commerce, and control their own online footprint,” said Dr. Leemon Baird, CTO of Swirlds and Co-Chair of the Hedera Council’s Technical Steering & Product Committee. “With the completion of V1 of the network code, open sourcing of the hashgraph algorithm, and an engaged Council making key decisions about the future of the network, the foundation of that vision is complete. The next challenge is for the broader community to develop products and services beyond the Layer 1 protocol, to deliver products and services that enable others to leverage the power of the Layer 1 protocol to create value. Swirlds is the best place for us to work on that, while fostering an ecosystem where all can participate equally.”
“Under high uncertainty and growing complexity economies, knowledge- and technology-intensive industries can maintain sustainable growth only by promoting open models of highly interactive and collaborative, multidisciplinary and multidirectional innovation. Innovation ecosystems are generally difficult to build because they are characterized by open non-linear dynamics, high receptivity to feedback loops, and persistent structural transformations,” said Prof. Paolo Tasca, Executive Director University College London, Centre for Blockchain Technologies, the first academic partner to join the Hedera Governing Council members. “I believe in non-hierarchical governance models which enable self-adaptability to rapid change via multilateral cooperation between innovators, developers, industry and academia. Therefore, I praise the Hedera team for their majestic work towards the broadening of the Hedera innovation ecosystem through open sourcing the consensus layer and further governance decentralization.”
The Hedera Governing Council has also entered into an agreement to outsource several essential services to Swirlds for the foreseeable future as the Council focuses on core network governance, industry standards, public policy, and treasury management.
“Achieving V1 of the Hedera network code is an important milestone for the Council and community, providing a robust network for anyone, anywhere in the world to build and deploy decentralized applications,” said Saiprasad Raut, Chief Technology Advisor, Crypto & Emerging Business for Worldpay from FIS, and Co-Chair of the Hedera Council’s Technical Steering and Product Committee. “And purchasing and making open source the underlying hashgraph algorithm will ensure that network development continues to be collaboratively produced, shared freely, published transparently, and developed for the good of the community. The ongoing collaboration between members of the Council, including Swirlds, gives us the best structure to facilitate exponential growth of the world’s most advanced public ledger infrastructure.”
“The towering importance of trust & transparency has become more critical than ever as digital technologies prodigiously tether us all with each other & our items,” said Pradeep Iyer, Ph.D, Research Fellow, Materials Group for Avery Dennison. “Recent pivotal organizational changes within Hedera hold the promise to seamlessly scale & secure a public DLT platform, catalyzing ubiquitous adoption. I see exciting opportunities to provide trusted tethers between physical items & their digital identities, for example, to accurately measure & mitigate environmental impact and help achieve ESG goals.”
The Council is also pleased to announce that Brett McDowell was unanimously elected by the Board of Directors for a two-year term effective January 1, 2022, as the first Chair of Hedera Hashgraph after serving ex officio in that capacity since the founding of the Council in February of 2019.
“It is an honor to be entrusted with this responsibility,” said McDowell. “The Governing Council has made meaningful progress over the past three years, growing from the initial five members, to now, twenty-five members across different industries, and geographies. I am excited about the changes being made by the Council at the beginning of the year, positioning the Hedera network for unprecedented growth in 2022.”
Dr. Leemon Baird, Mance Harmon, Saiprasad Raut, and Brett McDowell will host a webinar on Wednesday, January 26th at 8am PT/11am ET to further detail the Shared Worlds vision to be built on the Hedera network. Participants can join at: Hedera - YouTube.
About Hedera
The Hedera network is the most used, sustainable, enterprise-grade public ledger for the decentralized economy. The platform is governed by a council of the world's leading organizations, including Avery Dennison, Boeing, Chainlink Labs, Dentons, Deutsche Telekom, DLA Piper, EDF (Électricité de France), eftpos, FIS (WorldPay), Google, IBM, the Indian Institute of Technology (IIT), LG Electronics, Magalu, Nomura Holdings, ServiceNow, Shinhan Bank, Standard Bank Group, Swirlds, Tata Communications, University College London (UCL), Wipro, and Zain Group.
For more information, visit www.hedera.com, or follow us on Twitter at @hedera, Telegram at t.me/hederahashgraph, or Discord at www.hedera.com/discord. The Hedera whitepaper can be found at www.hedera.com/papers.
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Yes.
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What do you think this open-sourcing means for hbar? you would think it would open the door to more widespread usage, but I'm not sure what the impact is for HBAR itself, in terms of valuation.
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One person's opinion, which I can agree with. Starts at 5:15
Basically says HBAR is so far ahead and bigger than everyone else that allow others to help develop the network only helps HBAR and doesn't detract from it's value. Worth the ten minutes.
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Check Your DM
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See @MSU_Spartans Post Below Yours
Dispels the "Myth" That HBAR is not "Decentralized"
Will Increase Usage and Development Biggly
It's All Good - Very Good
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I got that video queued up...just need a few minutes to watch it
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Watched it, and it seems that he also doesn't fully understand the impact that this will have, but believes that the HBAR product will expand and believes in the group of governing board members, so he's excited about it.
I can't say I disagree, but was hoping for a little more definitive discussion as to what this might look like for the value of HBAR. It seems bullish in the long term, assuming it does actually get the high usage that seems possible, but it may not be in the near future (next 3-6 months). Totally speculation on my part, but if I had to guess, it will be 6-12 months before we see any big jump in value, other than just the typical run ups when BTC and/or ETH go up as well.
Hope I'm wrong, and it happens sooner, but I'm holding either way to see what happens.
I can't say I disagree, but was hoping for a little more definitive discussion as to what this might look like for the value of HBAR. It seems bullish in the long term, assuming it does actually get the high usage that seems possible, but it may not be in the near future (next 3-6 months). Totally speculation on my part, but if I had to guess, it will be 6-12 months before we see any big jump in value, other than just the typical run ups when BTC and/or ETH go up as well.
Hope I'm wrong, and it happens sooner, but I'm holding either way to see what happens.
TTUcamper
Elite
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Ultimately people need to start using these coins as currency. That will separate everyone out.
Anyone ever tried mining? Kind of interested
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It seems like that could be an option with HBAR (using it as currency), especially if it's backed by companies like google, walmart, etc, like they're saying. If it's used as currency though, would it be likely to change much in value? Or would the value be based on the other applications for which it's used as well?
Historically, I don't think BTC or ETH have been used much as currency, except in illegal transactions. BTC is accepted more widely than anything else at the moment, as far as I'm aware, but not too many other currencies have this sort of application, other than in small, specific types of venues.
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Last edited:
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It will be used as currency on the Hedera network. If someone has a smart contract to buy a house and the contact is being held on Hedera, then it will cost them HBAR to utilize the network to execute that contract. That's one of the big draws about HBAR/Hedera is the possibilities are endless when it comes to their blockchain and what it can be used for. It costs the contract holder a few HBAR to use the network, then Hedera uses the nodes where we have staked our HBAR to achieve consensus, and those node participants will receive payment (albeit minor) for staking their coins.
Hedera Smart Contract Service | Hedera
Build decentralized applications using Solidity and the most ubiquitous EVM tooling, libraries, and environments.
hedera.com
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Bittrex
Gate.io
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Binance.US
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Everything is on sale now, great time to buy just don't drop it all at once in case the price keeps going down.
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Interested in seeing what kind of return one can get by staking. If you're buying for long term growth, it only makes sense to do this to get some short term gain off your investment.
I should probably do some homework.......
I should probably do some homework.......
