How does open-sourcing help Hedera? This is a question I have

Question

How does open-sourcing help Hedera? This is a question I have

pondered upon for some time. The likely consequence of this is that all future networks will be Hashgraphs, just like the clones of Ethereum that have sprung up over the last few years.

This move renders Blockchains obsolete, as network developers are now free to choose between a Blockchain and a Hashgraph, and as our community understands, Hashgraphs are superior to Blockchains in just about every way.

I am encouraged by what open-source did for Ethereum's adoption. With L2s / side-chains, Ethereum is (currently) the ultimate destination, but note that such layers are being developed out of necessity rather than choice, due to the Ethereum network's poor performance.

In the case of Hashgraphs, Hedera has no NEED for additional layers / alternatives in order for it to grow. This is because, with fairness baked in, aBFT, fixed fees and its ability to scale effortlessly, Hedera offers equal access to all.

As a consequence, although there will undoubtedly be a demand for alternative Hashgraphs for specific applications, they won't be necessary, critical infrastructure, as in the case of Ethereum.

Interoperability is critical. Future private Hashgraphs will interoperate easily with the Hedera network. This is the founders' vision, and as Swirlds controls 10% of the Hbar supply, it's in their financial interest.

Trust is the most critical aspect of the vision. All Hashgraph software updates will flow out of Hedera. Hedera will set the standard for Web3 security, and will hence be the most trusted network.

Governance and security will place Hedera at the centre of Web3. You may be doing your primary business on another Hashgraph, but where would you prefer to secure your financial assets? On the biggest, most used and most trusted network of them all: Hedera.

With Hashgraphs superseding Blockchains, I see Hedera fulfilling Ethereum's ultimate goal, becoming something akin to the world's bank. The place where assets and truth are ultimately stored.

Hedera's vision is bolder: becoming the trust layer of the Internet itself, and for that, open-sourcing is a fundamental prerequisite. It will guarantee the dominance of Hashgraphs, with Hedera as the ultimate source of trust and truth.

As a consequence, the Hbar market cap will inevitably compete with the top 10 companies in the world.

I.e. measured in trillions.

#cryptocurrency #english #hbar

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05.02.2022

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* Olle · Accepted Answer

* Olle

Great article. One for all, all for one. 🙏

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05.02.2022

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How does open-sourcing help Hedera? This is a question I have

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