The race for Blockchain implementation by Tech companies is getting more and more demanding. The last day saw significant progress made by IBM Tata Communications and IMB. The two Tech Giants joined the governing council of what could be one of the most successful blockchain projects of this decade – the Hedera Hashgraph.
Owned by Asia’s richest man, while Reliance Jio, a Telecom Company in India aims to “build the largest blockchain” network of the world. On the other hand, Tata Communications and IBM joined the Governing Council of Hedera Hashgraph. According to the charter of the Hedera Hashgraph LLC, the members are equal owners of the company.
Hedera Hashgraph – PoS Network with a Native Cryptocurrency (HBAR)
HBAR will be the native cryptocurrency of the Hedera Public network. Hbar is the network fuel that secures the Proof of Stake (PoS) network. Hedera’s PoS network will be used to support decentralized applications (Dapps), build peer-to-peer payment and micropayment business models, and protect the network from malicious actors.
Hedera Performance Statistics (Source)
Hedera plans to release the tokens by the end of summer (US) 2019. It will begin for SAFT (Simple Agreement for Future Tokens) investors. Moreover, it also expects to release the tokens on Exchanges in 2019 as well. It will have a fixed supply of 50 billion coins and will be denoted by the HBAR (ℏ) symbol.
The system shows a lot of resemblance with the Libra Association announced by Facebook. The cryptocurrency and the Hedera network is expected to be independent of the LLC. Moreover, the 39 members will form the governing council for the network.