Good morning everyone, today I want to share why we at
@KabilaApp @KabilaES chose
@hedera as our blockchain for our entire system (Wallet, Tools, Launchpad, Marketplace, Plazas (The new social space) and Academy).
1. Hedera is super fast, secure and scalable. Right now is handleing an average of 2,000 transactions per second (TPS) with spikes of 3,300 TPS.
2. Transactions on Hedera are finalized in just 3 to 4.5 seconds.
3. Hedera can handle 10,000 TPS for each Shard and can scale up to 490,000 TPS/ Shard in the future. It can scale infinitely with MultiSharding.
4. Hedera has low and fixed fees. Sending a Hbar transaction costs only $0.00001. This is great for companies as they can predict their costs.
5. Hedera is very safe. It has the highest degree of security (
#aBFT) and can't be attacked like
@solana ,
@Polygon and others, since they have
#BFT security.
6. Hedera doesn't have a leader, so it can't be attacked at the parent node like Solana or Polygon.
#LeaderLess vs
#LeaderBased
7. The direction of the Hedera network isn't determined by a few people or entities that nobody know and held more than 50% of the Tokens. Decisions are made by the largest companies in the world that are part of the Hedera governing council such as
@Google @IBM @Ubisoft @LGUS @StandardBankZA ....etc.
8. Hedera uses
#VirtualVoting to validate transactions without affecting performance.
9. Big companies like Google, IBM, Ubisoft, Dell, LG, Boeing, Shinhan Bank, Standard Bank are part of the Government Council and are building on Hedera.
10. Hedera is the network with the lowest energy consumption, which is important for governments and for the biggest companies in the world (0.00017 kWh per transaction. This is significantly lower than many other blockchains. For example, a Bitcoin transaction can consume around 707 kWh, and an Ethereum transaction can consume around 62 kWh.).
11. Hedera has a progressive decentralization model with prestigious entities from different sectors and continents. All decisions are public and transparent. All meetings are recorded and posted to the public with everything that has been discussed and decided. Hedera has 3 phases of decentralization, the first through the 39 entities of the governing council, the next with permissionless nodes for companies with KYC and the next where any person in a completely anonymous and decentralized way could open their node.
12. Hedera follows the ISO 20022 standard, which makes it even more attractive to governments and large companies. Is really important for payments and other uses by real companies.
13. Hedera has the biggest ecosystem development fund of any network with more than 5 Billion $. In 2023 alone, more than $400 million will have been spent on ecosystem development.
@KabilaApp @KabilaES has raised funding from both the
@HBAR_foundation and
@The_Hashgraph .
14. Hedera is considered a Utility, not a security.
15. Hedera is the only blockchain that solves the Trilemma problem (Scalability, Speed and Costs).
16. Hedera uses its own technology (
#hashgraph) which is faster, cheaper and more scalable than any traditional blockchain.
17. Hedera has the fastest growing network of developers in the last 7 months.
18. You can program on Hedera in common languages like JavaScript, Java and Go. You don't need to use SmartContract at all which gives you much greater scalability and cost reduction.Likewise, the adoption it provides is infinitely greater, since all of these programming languages are used by 90% of programmers in the world.
19. Hedera is EVM compatible but with all the reduced costs of Hedera.
20. Hedera has a partnership with EMTECH.
21. When everyone starts to tokenize, companies will look for the most efficient, cheapest and scalable networks. Hedera could be among the first.
22. Large entities today are already using Hedera in production use cases such as
#Fednow and
@AveryDennison
23. There are 10 more government councils left to enter which are rumored to be: Twitter & Tesla, Microsoft, Apple, Nestle, Visa and Mastercard among others.
In conclusion, while
@Bitcoin and
@ethereum are currently the most liquid cryptocurrencies, they can't support mass adoption due to their limitations. Similarly, despite a billion-dollar investment, Cardano can't exceed 50 transactions per second (TPS).
Hedera, however, is well-positioned for mass adoption and global asset tokenization due to its scalability.
Don't be misled by Visa's agreement with Solana for building there.
@Visa is exploring different blockchains, but it needs to handle about 60,000 TPS. Solana, which struggled with 1,200 TPS in the past, causing network downtimes and high fees, may not be able to meet Visa's requirements, don't you think so?