Star of the bullrun: Hedera Hashgraph rises nearly 700%

Hedera Hashgraph grows 700 percent in one month. Few crypto projects have such an impressive list of collaborations. But what makes this coin so special?

In this article you will discover:

• Why Hedera is currently rising so fast

• How strongly the project is linked to major players

• How this blockchain differs from other networks

• What criticisms and doubts exist

170 percent growth in seven days, 700 percent in one month: third-generation blockchain is firmly on the rise. With a total market value of nearly $14 billion, the price only seems to be rising. Hedera was launched in 2018 and has made great strides since then: companies such as Google, IBM, Deutsche Telekom and LG are part of the ecosystem.

With applications ranging from tokenization of real assets to artificial intelligence, Hedera Hashgraph seems to serve a wide range of use cases. Blockchain has been praised for its efficiency, speed and low cost. Yet the current hype is also fueled by a persistent rumor that, if proven true, could have unprecedented implications for the stock price.

What makes Hedera special?

Hedera Hashgraph, a third-generation blockchain, was founded in 2018 by Dr. Leemon Baird, a former computer science professor and inventor of the unique Hashgraph consensus algorithm. His co-founder, Mance Harmon, has a similar background in technology and collaboration with the U.S. government.

The network can reportedly process 10,000 transactions per second, similar to VISA, at a low cost. This is made possible by the Hashgraph consensus mechanism, which uses less energy because it does not require miners. The system operates with 39 fixed nodes, mainly represented by large companies such as Google, IBM and LG.

Why is Hedera popular?

Hedera has previously performed impressively in bull runs, with gains of 1,500 percent and 250 percent. Now the stock price is up another 750 percent in one month. Partnerships with giants such as Google and the U.S. Central Bank (FedNow) reinforce confidence in the project. In addition, Hedera is working with Deloitte on a blockchain platform for environmental certificates and with SpaceX on transactions in space.

An interesting rumor is driving the current growth: Brian Brooks, a board member of the Hedera Foundation, is being mentioned as a candidate for leadership of the U.S. stock market watchdog SEC. This could give Hedera an edge in regulatory matters.

Criticism and challenges

Although Hedera claims impressive performance, it is difficult to independently verify it. The stated speed of 10,000 transactions per second is often not met in practice. In addition, its deep interconnectedness with businesses and governments raises questions about decentralization, a key value within the blockchain world.

Despite the criticism, the breadth of collaborations and scale of applications suggests that Hedera could play a prominent role in the future of blockchain technology. The project is fast, efficient and attractive to large companies, but how that translates into long-term success remains to be seen.