Welcome to the Hedera overview, a biweekly update to keep the community, developers, and curious web3 enthusiasts up-to-date on the latest developments from across the ecosystem.
Since this is the first edition, here’s a primer:
Hedera is a public ledger that uses hashgraph consensus, a faster, more secure alternative to blockchain consensus mechanisms. This distinction looks to enable throughput of 10,000+ transactions per second and low-latency finality in seconds with fixed costs of less than one cent.
The network is governed by a council of up to 39 enterprise companies that share a commitment to network innovation, stability, and its continued decentralization. Current members include Google, IBM, LG, Hitachi and Dell Technologies.
New here? Subscribe here to get updates to your inbox. Every other Friday.
The percentages and metrics are calculated from its change over a 14-day time frame, unless noted otherwise.
Diving deeper into some of the biggest updates from Hedera.
#️⃣ What’s Happening: Hedera integrated the Chainlink Cross-Chain Interoperability Protocol (CCIP) into its mainnet.
#️⃣ Why It Matters: This adoption allows Hedera developers to create applications that are capable of transferring tokens and sending messages across 46 blockchains. It looks to provide secure blockchain interoperability that could enable more users and liquidity to flow into the network’s DeFi and tokenized RWA ecosystems.
In 2024, the HBAR Foundation joined the Chainlink Scale program, gaining access to Chainlink’s oracle services like its data feeds and Proof of Reserve. With CCIP, developers can utilize its robust industry standard technology. In turn, this opens up Hedera to a multichain economy.
The integration of Chainlink CCIP could provide Hedera network expansion and additional entry points for users. Cross-chain capabilities allow ecosystems to interact with each other. In turn, this looks to reduce user friction across fragmented networks.
Chainlink’s architecture is designed to be “future-proof,” meaning it can integrate blockchains, tokens and security enhancements over time. This can position Hedera as a trust layer in the blockchain industry that enterprise and developer can use.
#️⃣ The bigger picture: Like many blockchains, Hedera wants to optimize for speed and efficiency, while being unified with other networks. Integrating interoperable bridges provides developers with the ability to tap into external liquidity pools and data sources. In turn, this accelerates DeFi innovation by enabling lending platforms or tokenized RWAs to be used across multiple markets.
Ultimately, this integration could be a catalyst for adoption because it signals a new era of possibilities for Hedera devs and DeFi communities, powered by more opportunity and enhanced UX.
Hedera’s dApp metrics are up on the week, according to DappRadar data:
Unique active wallets: 6.03K (+26.27%)
Transactions: 67.97K (+50.54%)
Dapp volume: $49.65M (+29.95%)
Hedera and XRP Gaming project leads spoke on a livestream about how they see lots of potential for cross-chain, web3 player experiences –
Binance integrated native-Hedera USDC for users to send and receive it on the exchange
Meanwhile, USDC on Hedera has grown 154% on the month, according to DefiLlama data
SaucerSwap reached new high of $4B in total trading volume on Hedera network’s most-used DEX
Source: DefiLlama
Highlighting the people, projects, and ideas driving millions of users and billions in value to the Hedera Ecosystem
Watch a live coding livestream hosted by Hashgraph Online DAO for developers a part of its $30K prize pool AI agents hackathon – some parts that stuck out to us:
Hedera ecosystem project founders and network partners made an appearance on the stream to provide devs feedback
The live stream accrued 12K views, signaling interest for AI agents on Hedera
Check out this Hedera Roundtable discussion with HBAR Foundation Head of Fintech Sabrina Tachdjian to learn about Red Swan CRE, a tokenized real estate marketplace built on Hedera that has $5B in AUM
Hedera donated its code to an independent entity via the Heiro initiative
Want to dive into the ecosystem full-time? Find the latest job postings here or get involved at an event below.
To get this newsletter delivered to your inbox, subscribe here.
This product was built by Token Relations.
This information is for entertainment purposes only. It should not be considered financial advice, nor should it be used to make investment decisions. Cryptocurrencies are high risk and you should consult a financial professional before making any financial decisions. Make sure you do your own research.