The founder of proof-of-stake layer-1 blockchain Hedera (HBAR) is revealing the project’s ambitions for the year, saying that the network has managed to defy last year’s crypto winter.
In a new interview on the Paul Barron Network 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.
“Just across the board, [Q4] was a really good quarter and that builds on the prior three quarters that were also showing really strong growth.
What’s interesting to me is that over the period where [the] crypto winter really began to set in, and through this really deep trough in terms of cycles, Hedera has gone exactly the opposite direction in terms of its usage and [total value locked] and all the metrics 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 issue of scalability in the crypto industry.
“Industry wide, what the industry has yet to see is a layer-1 really scale. Scale its ability to process transactions, really high throughput at a price point that is acceptable to the market, and over the next 12 months we’re going to take the next step in terms of going down the path towards true scale.
Today, in the network as it exists today, we already have capacity to process 10,000 transactions per second, and that’s been there since we launched back in the fall of 2019.”
According to Harmon, Hedera plans to add community-ran nodes in addition to the ones ran by council members, greatly expanding the blockchain’s capabilities.
“We laid out a roadmap for going from where we really are today with a council, each of the council members running nodes, enabling the initial network to process the transactions it can process today to then adding in community nodes that are not council members…
That’s coming. This year is the expectation. Then the next step beyond that is adding additional shards, other networks that contribute to the overall throughput.”
Hedera is changing hands for $0.089 at time of writing, an over 5% increase on the day.