Hedera News - Week of Jan 26, 2024
Zenobia Godschalk
Storyteller | TEDx speaker | Board member | Investor | Startup mentor
Happy weekend once again Hedera world. Lots going on over the last few weeks, so tuck in for a long recap below, as well as a few items to mark on your calendar for the week ahead.
Hedera again had a stronger than ever media presence at this year’s World Economic Forum in Davos, with news from around the Hedera ecosystem delivering 80+ media placements. Ecosystem announcements throughout the week included:
Independent Hedera Board Member Monique Jeanne Morrow (she/her) reflected on the pressing conversations of the week and shared her thoughts on the intersection of AI, tokenization, and web3 - exploring DLT's potential to revolutionize industries, foster equitable opportunities, and empower individuals. "Tokenization, fueled by Web3 technologies, is revolutionizing the way we exchange value and interact within the digital realm... From decentralized finance to non-fungible tokens (NFTs) certifying ownership of digital assets, tokenization is reshaping industries and democratizing access to opportunities in ways previously unimaginable." The full post can be found here: ?? https://lnkd.in/dhH7yiWq
Last week on the Gossip About Gossip podcast, we caught up with Donald Bullers from Tuum Technology about the new Hedera Wallet Snap on Metamask.
And this week on the podcast, I chatted with Alex Strujac from Seaplify, about how they’re empowering individuals in the maritime industry to take control of their career paths.
Looking ahead to next week….
Join the Hedera next week for the monthly Community Call on Discord, featuring Hedera Chief Open Source Officer Andrew Aitken talking about Hedera’s open source strategy, Swirlds Labs CMO Christian Hasker and Calaxy Co-Founder Solo Ceesay to recap Davos2024, and Ty Smith (AKA Patches) sharing more on the new HCS20 token standard. Register now at ?? https://lnkd.in/drSzqaAy
And next Tuesday at 9:00AM EST, join Joget, Inc. Special Projects Technology Manager Justin Wee and Swirlds Labs Head of Developer Relations Ed Marquez for a live demonstration of the ‘Hashgraph Application Studio’ - combining the power of Hedera with no-code/low-code technology for simplified dApp development, powered by Joget. Register here ?? https://lnkd.in/dE8fUx-5
This week’s news explores EQTY Lab’s introduction of ClimateGPT, an open-source AI platform combating climate disinformation by integrating Hedera's distributed ledger technology. Messari's report on the 'State of Hedera in Q4 2023' highlights the network's record transaction volume and revenue growth. Al Zayed University researchers advocate for hashgraph as a superior alternative to blockchain, emphasizing its efficiency and scalability. An exclusive interview with Charles Adkins, Hedera's President, discusses the recent addition of Hitachi to the Hedera Council and future plans. Crypto Oasis releases its 2024 Global Protocol Report, praising Hedera's Hashgraph algorithm for faster transactions and improved scalability. Solo Ceesay, CEO of Calaxy, shares insights on the Sporting Crypto podcast, emphasizing the importance of decentralized tech like Hedera in sports. Finally, The Crypto Times explores the blockchain trilemma, highlighting how Hedera addresses scalability, security, and decentralization challenges through its gossip protocol and asynchronous communication.
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EQTY Lab, a leading responsible AI company, proudly announced at the World Economic Forum in Davos last week, the release of ClimateGPT. Integrating Hedera’s distributed ledger technology (DLT), the new open-source AI tool aims to fight climate misinformation by providing users with reliable facts and reports for verifying claims, theories, or news related to climate change. Following the launch, Jonathan Dotan, founder of EQTY Lab and a founding member of ECI, sat down with Sion Geschwindt at The Next Web to discuss the new protocol. Unlike other chatbots, ClimateGPT is an ensemble of three task-specific LLMs, that vary in terms of the number of parameters they were trained on, which also affects accuracy. For example, the 7 billion model is far less accurate than the 70 billion version. All three models are fine-tuned versions of Meta’s Llama-2 large language model. Jonathan believes that ClimateGPT is part of a broader industry shift toward open-source AI. He said, “We saw the release of countless AI models in 2023, but many still exist in walled gardens, which limits their potential for positive change. This year I believe we will see demand for AI that is more open, secure, and accountable.”
Messari has published its latest report on the ‘State of Hedera in Q4 2023’. According to the report, Hedera saw its transaction volume increase for the sixth consecutive quarter in Q4 2023, achieving a record of 164 million daily average transactions. The network’s revenue also grew by 59 percent in the last quarter of 2023. This growth can be attributed to the Hedera Consensus Service, which is responsible for 99 percent of all transactions on the network. Notably, despite representing only a small fraction of total transactions, the Hedera Token Service and Hedera Smart Contract Service contributed approximately 14 percent of the total revenue, signalling an increased industry interest in tokenization and payment automation infrastructures. The report also highlights that HBAR, Hedera’s token, achieved a circulating market cap of $2.9 billion USD, an increase of 78 percent. This increase outpaces the crypto market’s overall growth of 54 percent, indicating that the Hedera network is growing at almost 1.5 times the pace of the crypto industry itself.?
Following the announcement of ClimateGPT, a groundbreaking move towards AI integrity, the protocol empowers the global community of developers with a robust AI integrity fabric that authenticates, secures, and governs responsible AI models. The platform, seamlessly integrated with Hedera’s DLT, powered by Erasmus.AI, and trained with Apptek, is an ensemble of task-specific AI models, designed to bring trust and transparency to climate-focused AI chatbots and produce accurate and authenticated climate data. The solution is available in over 20 languages and includes a groundbreaking 70 billion parameter foundational model with over 300 billion climate-specific tokens, trained and hosted entirely on renewable energy. By leveraging the capabilities of EQTY Lab’s platform, developers can now access and utilize ClimateGPT to generate innovative solutions that contribute to a more sustainable future.?
Al Zayed University researchers in the UAE have published a research paper titled "Investigating the Failure of the Blockchain Technology and Suggested Recommendations," advocating for the adoption of hashgraph consensus algorithm as a superior alternative to traditional blockchain technology. The study, led by Professor Ala’ Al Hilal, conducted a comprehensive analysis comparing the strengths and weaknesses of blockchain and hashgraph. Hashgraph, a component of the Hedera network, stands out for its use of Directed Acyclic Graph (DAG) and processes approximately 500,000 transactions per second using the Gossip method, surpassing traditional blockchains struggling to reach 10,000 transactions per second. The research emphasizes hashgraph's efficiency, fairness, and scalability, concluding that it has the potential to outperform traditional blockchain platforms, though not intending to replace them. The researchers highlight hashgraph's unique consensus mechanism, high throughput capabilities, and notable features as key factors contributing to its superiority.
Recently, Charles Adkins, President of Hedera, sat down with Invezz for an exclusive Q&A following the recent addition of Hitachi to the Hedera Council. As well as discussing the significance of Hitachi joining the Governing Council, Charles talks about working with Hedera, how he’s found his new role since joining, and what his plans are for the future.?
This week, Crypto Oasis, in partnership with the DLT Science Foundation, released its 2024 Global Protocol Report, highlighting how we can empower future Web3 adoption, including the adoption of distributed ledger technology (DLT). Diverging from traditional blockchain infrastructures, Hedera uses an algorithm known as the Hashgraph which allows for faster transaction speeds and improved scalability. Hedera’s algorithm is touted as a secure alternative to conventional blockchain and promises byzantine fault tolerance, making it resilient to malicious actors. Unlike traditional blockchain infrastructures, Hedera’s DLT ensures there are no forks, adding another layer of security and predictability and enabling the network to conduct thousands of transactions per second.?
This week, Solo Ceesay, Co-founder and CEO of the Calaxy app, spoke with Pet Berisha on the Sporting Crypto podcast to discuss everything Web3. The podcast, sponsored by The HBAR Foundation, focuses on the journeys and experiences of leaders within the sports and Web3 industries and how they intersect. During the episode, Solo discussed how the Calaxy social wallet is built on Hedera and shared insights on the future of engagement and content creation, as well as the importance of decentralized tech, rebuilding social media on blockchain technology, and how there is a growing need for decentralized technology, such as Hedera, in sport and other industries.
In this article, Olumide Ogunjobi assesses the importance of scalability, security, and decentralization. The so-called “blockchain trilemma” refers to the challenge of balancing the three features that underpin blockchain technology. On one hand, blockchains need to be scalable and able to process high transaction volumes and throughput to support widespread use. On the other hand, blockchain must also be secure and decentralized. These latter aspects provide unique advantages like tamperproof trust and censorship resistance. However, emphasizing any single trait seems to come at the cost of others.?
Interim Associate Dean of Undergraduate Program at Coles College of Business at Kennesaw State University
1 年Great article. We are organizing a panel on digital currencies and tokenization as part of the digital payments seminar at Kennesaw State. It would be great if you could participate as a panelist. Happy to connect and discuss further if there is interest.