In this Telegram AMA recap, you’ll find insights about the Hedera project. In an event hosted by Sebastian from MEXC Global, you will meet Alice, Lead of Business Development at Hedera.
Alice: Hello everyone, it is my honour to be here with you all. My name is Alice Kim – ead, business development with HBAR Foundation. with this role, I am coordinating and managing partnerships, use case collaboration, and ecosystem development
I joined Hedera October 2018, it has been 3+ years with Hedera network ☺️
I am aiming to accelerate enterprise adoption and build further partnerships in the greater Asia-Pacific region
Questions from community:
Sebastian: What is Hedera? Can you share with us more in detail?
Alice: I would like to clarify the difference between Hedera and HBAR Foundation as we begin.
First, Hedera is the most used enterprise-grade public network. Hedera network is for you to make your digital world exactly as it should be – yours. Whether you’re a startup or enterprise, a creator or consumer, the Hedera network goes beyond blockchain, enabling entrepreneurs to create the next era of fast, fair, and secure applications.
The HBAR Foundation acts as an integrated force multiplier to help builders and creators overcome the challenges of bringing their ideas to market. If you are a startup or enterprise, feel free to contact us anytime. We would like to listen to you and work with you!
Sebastian: This is intriguing, I’m glad you could clarify the differences to let our MEXC community understand better 👍
Sebastian: What triggers you to launch Hedera? What are some of the real-world problems/ pain points that Hedera aims to solve?
Alice: My pleasure. I started with Hedera and now work at HBAR Foundation for Hedera network. With this transition and expansion, I expect we could do so much more for our ecosystem participants!
Thanks for the great question.
Hedera started with a vision for how the internet should work and how it could work. According to Dr. Leemon Baird – Co founder of Hedera “ It really should be possible for anyone to just kind of wave their hand and carve out a piece of cyberspace and create a world of their own” but the technology to achieve such a vision simply did not exist there’s no way that you can have really high throughput and also have all these security and fairness properties. He spent years trying to solve this problem and in 2015 Leeman had a breakthrough with the hashgraph consensus algorithm. This was the foundation story of the Hedera network. Hedera is the most widely used public ledger in the world. According to one of our ecosystem builders, they chose Hedera Hashgraph as their underlying public distributed ledger of choice on which to build its micropayments platform for its high throughput, fast settlement times, and low, predictable fees.
Sebastian: wow! Seems like there is a great historical significance for Hedera’s origins. Glad to learn this.
Sebastian: I’m sure Hedera’s token is also super important. What is the role of the $HBAR token in Hedera? Would you kindly tell us more about its tokenomics?
Alice: It is amazing to hear Co founders vision and their mission. Now they are working at Swirlds Labs and build open source tools and services for Hedera network.
HBAR is the native, energy-efficient cryptocurrency of the Hedera public network.
Sebastian: Yes, it really is amazing to hear their journey and of how far they’ve come.
Alice: 1st role is as fuel of Hedera network.
2nd role is following: Hedera’s proof-of-stake public network uses hbars, which are staked or proxy staked (coming soon) to a network node, to weight votes on transactions when reaching consensus. Weighted voting with hbars makes it difficult and expensive for a bad actor to maliciously affect consensus — it would require them to own and stake over one-third of the network’s total supply of HBAR, which will not be possible for the first 5 years.
Sebastian: Alice, is there any exciting news or updates with regards to Hedera that you would like to kindly share with the users?
Alice: Oh yes! Personally, I think this update will be the most exciting news for our community. Many developers and projects have asked to enable Metamask on Hedera! Guess what! This would be possible!
The launch of Hedera Smart Contracts 2.0 (HSCS) in February 2022 came with subsequent rapid adoption by application developers and usage by retail users. The most prominent is Stader Labs’ staking application that locks HBAR in a smart contract and rewards stakers with an HBARX coupon, redeemable for 1 HBAR at a later date — within a few short days, thousands of retail users staked over $50M USD worth of HBAR through the HashPack Wallet.
HSCS 2.0 offers significant advantages, including optimizations of the Besu EVM for the Hedera network. In addition, Hedera core contributors have integrated the Hedera Token Service (HTS) into HSCS, enabling application developers to combine the full programmability offered by EVM-based smart contracts with native fungible tokens and NFTs configured and minted using the fast, efficient, and low-cost HTS. Now it’s time to turn the focus on bringing even greater usability for developers building Smart Contract applications on Hedera. The most ubiquitous EVM-based libraries, tools, and workflows across web3 ecosystems are based on the JSON-RPC specification. Existing Hedera application developers desire streamlined ways to build and deploy smart contracts on Hedera, while new entrants migrating from alternative EVM-based networks want to use the same tools and services with which they’re most familiar.
Sebastian: What a dynamic plethora of news! I hope all of you are taking down notes 👀
Sebastian: If you were to summarize your project in ONE word, what would it be? Why?
Alice: I asked the same question to Dr. Leemon Baird when he visited Korea for conference.
I remember his answer to this day and want to share it with you!
Shared world, Hedera network enables people to carve out a piece of the internet, create their own world and share it with others -> This is our vision and mission!
Sebastian: Fantastic! Thank you Alice for this fruitful discussion, I believe the MEXC community has a much clearer idea of what Hedera is what the work that you do!
Q1. Do the token holders have the right to participate in the governance of the project? What kind of decisions can they vote on about the project?
Hello @SpringEast Thanks for the great question. One of the strengths that Hedera has is its governance. We are inviting 39 global enterprises to govern our network, you can find more about it on our website: www.hedera.com/council.
We appreciate the community’s participation as well, we have Hedera Improvement Proposal program, based on the community’s opinion, we prioritize or develope some of the important functions on our network. https://hips.hedera.com The Metamask function was also added via HIPs
Q2.  How do you plan to spread awareness about your project in different countries where English is not good? Do you have local communities like Vietnam, Indonesia, Thailand, Korea,.. so they can better understand your project?
Hello @Maliahawkins Thanks for the great question. Yes absolutely! We are working with many regional partners or Hedera based project to support non-English speaking countries. HBAR Foundation will play the role going forward. Please stay in tune!
Q3.  Can you explain how is your Tokenomics Distribution? How many tokens Will be minted ? And How many tokens Will be locked by the team?
Hello another alice! Pleasure to meet you. The total supply of HBAR is 50B, this has been already minted and our tokenomics and token plan is all publicly available: https://hedera.com/treasury-management-report
Q4. Audit is important for both trust and security. Have you done any audit of smart contract?
Hello @WilburnBlackman Absolutely! Auditing and peer reviewing is very important. Hashgraph is the core consensus algrithm that Hedera network is running on, it has COQ proof and we conducted all Hedera services audited. You can find more about our audit results here: https://hedera.com/audits-and-standards
Q5. How can I do my research about your project? Do you have any whitepaper released and can you provide me all the social media links and blogs?
Hello @SeritaGoforth Thanks for your interest on Hedera. You can visit our website for the whitepaper (it is quite lengthy, but you will find interesting reading it) https://hedera.com/hh_whitepaper_v2.1-20200815.pdf
In order to get the newest update about Hedera: please subscribe Hedera TG channel: https://t.me/hederahashgraph HBAR Foundation channel: https://t.me/HBAR_foundation
and HBAR Foundation’s blog and twitter: https://twitter.com/HBAR_foundation https://www.hbarfoundation.org/blog
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