Hedera (HBAR) Founder Reveals Big Ambitions for 2023, Says Network Defying Bear Market with Steady Growth
The founder of proof-of-stake layer-1 blockchain Hedera (HBAR) reveals the project’s ambitions for the year, saying the network has managed to defy last year’s crypto winter.
In a new interview on Paul Barron Network’s YouTube channel, Hedera co-founder and CEO Mance Harmon lays out his ambitious roadmap for the crypto protocol.
According to Harmon, HBAR’s fundamentals improved last year despite the prolonged crypto bear market.
“Like across the board, [Q4] was a very good quarter, and it builds on the previous three quarters which also showed very strong growth.
What is interesting to me is that over the period where [the] crypto winter really started to set in and through this really deep trough in terms of cycles, Hedera has gone the exact opposite direction in terms of usage and [total value locked] and all the calculations look good.”
Harmon goes on to say that he believes HBAR will continue its growth in 2023, as he believes that Hedera will be the first blockchain to truly solve the problem of scalability in the crypto industry.
“Industry-wide, what the industry has yet to see is a tier-1 scale. Scale the ability to process transactions, really high throughput at a price point that’s acceptable to the market, and in the next 12 months we’re going to take the next step in going down the road to true scale.
Today, in the network as it exists today, we already have the capacity to process 10,000 transactions per second, and it has been there since we launched back in the fall of 2019.”
According to Harmon, Hedera plans to add community-run nodes in addition to those run by council members, greatly expanding the blockchain’s capabilities.
“We laid out a roadmap to go from where we are today with a council, where each of the council members runs nodes, which allows the first network to process the transactions it can process today and then put in community nodes who are not council members…
It’s coming. This year is the expectation. So the next step beyond that is to add more shards, other networks that contribute to the overall throughput.”
Hedera is changing hands at $0.089 at the time of writing, up over 5% on the day.
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Featured image: Shutterstock/Mia Stendal
