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AMA Recap with Hedera ($HBAR) SVP

Hedera AMA Recap

AMA Recap x Hedera

Hello everyone! This is an AMA with Nigel Clark, Hedera SVP, Industries & Partners that we have held in Guarda’s community. If you missed it here’s a recap for you.

I believe HBAR is a good token, but a little less exciting in the market. Is it possible that the HBAR can be more attractive in a market with exciting market fluctuations in the future, or continue to try to maintain stability?

Hedera has never focused on price. The only focus is on building the most decentralised and utilised public network for the world. We have a long term view which aligns to Leemon and Mance’s goal of creating a 100 year network and we set ourselves out very clearly right from the start. the awareness of Hedera is growing by day and as more and more projects come online, the network will continue to grow. It’s an exciting time! Our vision is clear and the excitement is growing!

What is your strategy to attract new users and investors to your platform and keep them long term?

OK – big subject and something we are super passionate about…. Our goal is to build the most stable and performant network for all. The word is spreading and we are already one of the most utilised networks on the market processing more than 6m tx per day. There are real use cases with real uses building real businesses on Hedera. We have a full product roadmap that will see Hedera increase capabilities around things like NFT’s, CDBC’s, stablecoins, interoperability with other networks and support for community led layer 2 solutions. We will also continue to develop deeper integration with existing enterprise applications and infrastructure. In addition, we will continue recruiting the highest calibre of council member to sit alongside the likes of Google, LG, Standard Bank, Nomura, Tata, Wipro – and most recently EDF energy. And let’s not forget the two biggest global law firms!

How is Hedera Hashgraph planning on attracting more developers to build on the platform?

Ha – developers. That’s an easy answer as I happen to run our developer advocate team. The best there is!…. Hedera’s core services are open source and all the tools and documentation are freely available to make it quick and easy to build on Hedera. We have an extremely passionate and active developer community and our developer advocates are there to assist and answer questions when needed (Greg, Tim, Ken…) And of course, there is the Hedera Improvement Process – HIP – that we would encourage you to contribute to if you have great ideas to improve the network! Join us on the Hedera Discord developer channel at hedera.com/discord to learn more about developing distributed applications on Hedera. In short – join us. All are welcome!

When we have such an amazing technology, compared to others’ technology. Why does our currency have less weightage in the market? I can’t see much fluctuation in the currency. Being a good player in technology, I believe we need to show to the world that we are the best!

I love that “our currency”! Welcome Rakesh 😊 Since open access, Hedera has grown to become one of the most utilised public networks in the market. With more than > 5m (often more than 7m) transactions per day and an average time to consensus of 3-4 seconds (with finality!), Hedera has more than proved itself for projects at scale. Our consensus services are unique in the market to enable fair ordering, timestamping and notarization of events – from any application or service or indeed any other network. And the Hedera token service provides tokenization at speed without the need for smart contracts. Hedera is walking the talk and proving that we are the best! We are showing the world already.

Do you think hedera can come in as a low carbon footprint coin? A coin for the woke generation where speed, sustainability and yield go hand in hand?

Ha – absolutely. We had a super webex with our lead around sustainability only yesterday. Wes – worth chatting to him. There is huge activity around the whole area of sustainability and carbon offsetting. Look at the EDF press release around their reasons for joining the council as an example. And there is also a considerable weight of research that proves that Hedera has the lowest carbon footprint of all. We love that! These are the cardon comparison charts… https://twitter.com/Edrek13/status/1376441943849328641
https://twitter.com/PowerTransition/status/1377238884573179913 As you see – this is close to our heart.

What is Hedera Hashgraph’s Consensus?

Now you are going to the heart of Hedera. It is the core consensus engine for the hashgraph network. An alternative to Blockchain but it works very differently. First of all it is proof of stake, but more than that it is unique in the market in that it offers the highest level of security possible – ABFT – which together with Leemon’s innovations around Virtual Voting, Gossip about Gossip and fair timestamps ensure the highest possible level of performance and time to finality – with no leader. Our two core services – HTS and HCS directly benefit from these security, performance and finality characteristics. There is a great talk by Leemon that explains it all. Actually we get asked that alot – so I know where to find the link! https://www.youtube.com/watch?v=cje1vuVKhwY

Is any of Hedera’s governing council members building or testing products (PoC, MVP) on the Hashgraph?

Absolutely, our governing council members are most definitely building on Hedera. From decentralised identity through tokenization of real-estate, stablecoins and micropayments . Here is a link to our council member homepage: https://hedera.com/council

What is your estimate of network usage vs capability? Do you have KPI targets for account creation or transaction volume?

OK – network usager and capability are things we are super focused on. The Hedera network has been tested to hundreds of thousands of TPS but today is throttle at 10,000 tps. We measure ourselves based on real transactions – real tps, real active accounts and real value creation.

Will there be an API available for users of the network to implement easily into various web services and sites? When do you think this will become available if so?

OK – so I think this relates to HAPI. Hedera is known to be easy to integrate with most applications and systems. All doc are at{% extlink https://docs.hedera.com/guides/ https://docs.hedera.com/guides/ %}- including SDK and the Hedera API (HAPI).

When will $HBAR take over the moon?

Hahaha – love that! Only the moon? Surely it’s To Infinity & Beyond! 😂 Well then you should look at the amazing bio-hab.org project then! Leemon has super thoughts on the right ways and processes to colonise mars…(no shock!)

Live Session

How will we try to gain attention from the Developers & also for an ecosystem to grow the community is the most important factor, how will we try to strengthen the community?

OK – so we are strengthening the community in all aspects. From wallets and custody providers, through exchanges and deep enterprise app and SI partnerships. The word is spreading. And of course the hackathons (last one had 800+). HTS was launched with over 60 partners. All these things are important for building out the ecosystem.

Does the technology seek to solve any specific problem in the crypto ecosystem which is based on Blockchain Technology?

We solve for speed, fairness, stability, governance – the lot!

Is there any chance we use our pc/laptop for mining Hedera?

Ok so first of all – no mining on Hedera, but remember that it is PoS. In time – everyone will be able to run a node. But for now it is just the council members. There is a great video by Leemon on the path to decentralization. Hope that helps.

Is your project a Global project? Can local communities partake in it?

Yes it is a global project. It is a global public network that everyone can access and use. From the smallest consumer to the largest conglomerate. We have nodes on every continent and diversified across many industries. People are building on us in all corners of the world. And as the cost per tx is just 0.001 then the network is great for almost any imaginable use case.

Speaking about TPS & Eco-friendly there are many competitors in the market with Good Technology. How will you try to outperform them?

Well our community is growing, our network performance is proven. But at the end of the day it will be real use with real use cases that win the day. We will be the second network to hit 1bn tx after Eth – in half the time. That’s a performance. That’s real proof. And that’s real utilization!

How much do you guys charge for withdrawal or transfer of btc/eth or any other stable coins?

All good things come soon to those who wait – and at very low cost 😊

Will Hedera implement non-crypto-natives and NFT in its ecosystem?

For sure. In fact there are many NFT projects building on Hedera now. You are welcome to check: Hedera Tokenization Whitepaper and Hedera Token Service Webinar.