2020: LAUNCH OF HEDERA CONSENSUS SERVICE
Google and Wipro are announced as Hedera Council members. Hedera Consensus Service (HCS) is launched on the mainnet on February 13, 2020. HCS affords developers a unique opportunity to create verifiable timestamps and ordering of events for any application. Hedera.com goes live.
Avery Dennison, University College London (UCL), LG Electronics, and Zain Group are announced as Hedera Council members. Hedera20, Hedera's first virtual hackathon, occurs, showcasing the development of high-throughput, low-cost apps. Hedera surpasses Ethereum in the daily number of transactions processed.
Dentons is announced as a Hedera Council member. The code for the hashgraph platform enters open review on October 9, 2020. The platform code includes the gossip and consensus protocol code, and the various libraries that are used by the services code. Hedera Token Service (HTS) is launched on the previewnet on October 22, 2020. HTS offers the ability to issue and configure tokens on Hedera, taking full advantage of Hedera's native performance, security, stability, and governance. HTS is launched on the testnet and the Tokenization on Hedera whitepaper is published on December 7, 2020.
2021: LAUNCH OF HEDERA TOKEN SERVICE
eftpos, Standard Bank Group, and Électricité de France (EDF) are announced as Hedera Council members. Hedera21 occurs, which is a hackathon dedicated to tokenization applications that take full advantage of the HTS. HTS is launched on the mainnet on February 9, 2021 with over 60 initial ecosystem partners. HTS enables the configuration, management, and transfer of native fungible and non-fungible tokens (NFTs) on the public Hedera network.
Shinhan Bank and Chainlink Labs are announced as Hedera Council members. Hedera reaches one billion (1,000,000,000) mainnet transactions in just one year, six months, and 28 days. The Hedera Public Mirror Node, a publicly accessible, free-to-use, mainnet Mirror Node operated by the Hedera team, becomes available on June 25, 2021. Mirror nodes provide a way to store and cost-effectively query historical data from the public ledger, while minimizing the use of Hedera network resources.
The London School of Economics and Political Science (LSE) and the Indian Institute of Technology Madras (IITM) are announced as Hedera Council members. Hedera adopts environmental sustainability as a core value and officially commits to a carbon-negative network. The Hedera Council allocates 10.7 billion hbars ($5,000,000,000) to the newly established independent HBAR Foundation. The HBAR Foundation will provide grants to developers, startups, and other organizations to accelerate the development and adoption of the Hedera network for a wide variety of applications. A charity NFT auction is conducted on September 21, 2021 on the Hedera network to demonstrate how projects can build high-performance, secure, and sustainable applications with the HTS.
DBS Bank and ServiceNow are announced as Hedera Council members.
2022: UPGRADE OF HEDERA SMART CONTRACT SERVICE
The Hedera Council votes to purchase and open source the intellectual property rights to the hashgraph consensus algorithm, further accelerating its development and expanding the number of contributors. Hedera Smart Contract Service (HSCS) 2.0 is launched on the testnet on January 2, 2022. HSCS is open-source, EVM (Ethereum Virtual Machine)-compatible, integrated with Solidity, and carbon-negative, while natively supporting Hedera tokens and NFTs with the HTS.HSCS is launched on the mainnet on February 2, 2022.Ubisoft is announced as a Hedera Council member.
Hedera Council further decentralizes the Hedera network with the transition of the product development and management teams, including Dr. Leemon Baird and Mance Harmon, from Hedera to Swirlds Labs (now known as Hashgraph) with the mission to accelerate building the future on Hedera.
The hashgraph platform, including the hashgraph consensus algorithm, enters open source under Apache 2.0 license on August 5, 2022, making the entire Hedera network, including the services code and developer tools, open source. Native staking is introduced on Hedera, enabling the ecosystem to develop tooling and stakers to earn rewards. abrdn is announced as a Hedera Council member.
2023
Dell Technologies and COFRA Holding are announced as Hedera Council members.
Shinhan Bank, SCB TechX Successfully Pilot Stablecoin Remittances on the Hedera Network. Stablecoin Studio, an open source SDK, now available on the Hedera network, enabling any organization to easily build stablecoin applications. Charles Adkins Appointed as President of the Hedera Council.
2024
Hedera Wallet Snap goes live, connecting the Hedera network with MetaMask’s 30 million monthly active users. Hitachi America, Mondelēz International, and BitGo are announced as Hedera Council members.
Hedera donates entire codebase to Linux Foundation Decentralized Trust, marking the first time a public chain has donated its code to an independent foundation. Hedera launches Asset Tokenization Studio, an open-source toolkit for the configuration, issuance, and management of tokenized bonds and equities on-chain. The Hello Future Hackathon 2024 awarded over $350,000 USD in prizes across AI, DeFi, and real-world asset tokenization for innovative, ground-breaking solutions built using hashgraph. The Nairobi Securities Exchange (NSE) is announced as a Hedera Council member.
Price Prediction for 2025:
Predicting the exact price of HBAR in 2025 is challenging due to the volatile nature of the cryptocurrency market. However, various sources provide the following estimates:
Changelly suggests that HBAR could trade at a minimum of $1.09, with potential peaks up to $1.28 by 2032.
The News Crypto forecasts that HBAR might reach $1.2 by 2025.
Bittime estimates that HBAR could reach between $0.60 and $0.73 in 2025.
These predictions vary significantly, reflecting the uncertainties and rapid changes inherent in the cryptocurrency market.
Strengths of HBAR:
High Transaction Speed and Low Fees.
Strong Governance Model.
Energy Efficiency.
Weaknesses of HBAR:
Centralization Concerns.
Competition.
Regulatory Uncertainty.
Investing in HBAR presents potential opportunities due to its technological advantages and strong governance. However, it's essential to consider the following:
Market Volatility: The cryptocurrency market is highly volatile, and HBAR's price can experience significant fluctuations.
Uncertain Adoption Rates: The success of Hedera depends on the adoption of its technology, which is not guaranteed.
Regulatory Risks: Changes in regulatory landscapes can have profound effects on the viability and legality of cryptocurrency investments.
It's crucial to conduct thorough research and assess your risk tolerance before investing in HBAR or any cryptocurrency.
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