After a long test run, Hedera Hashgraph on Monday announced the launch of its much-anticipated blockchain to the general public.
According to the company, the blockchain is capable of handling 10,000 transactions per second, compared to merely 15 transactions per second in Ethereum and 2.8 for Bitcoin’s blockchain.
The decentralized network will also add support for smart contracts and file service. For the time being, the company has throttled the network speed for these two services at ten transactions per second and has plans to “methodically” increase the speed “throughout the remainder of 2019.”
Commenting on the development, Mance Harmon, co-founder and chief executive of the company, said: “Today we are thrilled that, through open access, dozens of decentralized applications are now live and running on the mainnet, along with mirror nodes and other parts of the ecosystem designed to expand Hedera’s reach and adoption.”
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Adding support for popular DApps
Along with the launch of the blockchain, the company also announced that 26 decentralized applications (DApps) are also launched on it, which includes decentralized advertising platform AdsDax, decentralized payments application Chainlink, and Certara, a DApps attempting to streamline healthcare data.
Launched last year, the Texas-headquartered company raised $124 million in three token sale rounds conducted between March and August 2018. It will also initiate distribution of the tokens on Tuesday at 1 am (UTC).
Last December, Hedera Hashgraph launched the testnet of its blockchain to a handful of its corporate partners and developers. And now with the launch of its high-speed blockchain, the company is set to challenge some of the biggest players in the industry who are already struggling with various scaling issues.
“Chainlink is excited to be part of Hedera’s Open Access and to provide their community’s initial implementations with reliable oracles and connectivity to off-chain data,” Daniel Kochis, global director of business development at Chainlink, added.