Hedera’s new plans for 2022 involve the launch of the network’s own launchpad that goes by the name HederaStarter. This promising DeFi project has been lurking in the shadows ever since the beginning of the new year. Apart from the launchpad, the network has scheduled to introduce many other features like smart contracts. According to experts from the Hedera community, when the network drops smart contracts, it would be an eventful day for the whole DeFi sector.
This statement from Hedera has much to do with its technical infrastructure. Despite being focused on decentralization, Hedera is not a blockchain as such. However, we could call it the next step in the evolution of blockchain technology known as Hashgraph. It is basically a distributed ledger technology that can process the operations of a blockchain much more efficiently. This algorithm was invented by Dr Leeman Baird who is currently the chief scientist of the Hedera project. Let us see why the launch of Smart contracts and HederaStarter will be significant for the crypto space in the years to come.
The Hedera Hashraph project is constantly being examined and researched to find new avenues for its implementation in the real world. The research has brought the project closer to implementing smart contracts in the ecosystem. Upon launching it, the ecosystem would be able to process the transactions at a much faster rate and for a nominal fee. It would be achieved by making the contracts EVM compatible and powered by Solidity. This is expected to be much cheaper than deploying the contracts in the native Ethereum chain. Some analysts claim that the HBAR price has the potentialto soar close to even the $1 mark within a year. This HBAR price prediction expects a positive trajectory for the token.
More importantly, the ecosystem has developed its own launchpad called HederaStarter. This project will help new and innovative projects on the ecosystem with enough funds and assistance. The panel of developers, business professionals, and cryptocurrency experts will be an integral part of the growing projects on Hedera. According to Conor Devlin from Business Development at Hedera, this is the next step in the journey of the Hedera network. Going forward, they will try to implement project ideas from the community to help the Hedera ecosystem grow wider and more comprehensive, he added.
Hedera is a trusted name in the DeFi segment. Much of the trust comes from its governing council that includes tech giants like Boeing, IBM, Google and more. The governing council will soon expand to a 39-member group. The previous reports from Hedera from January announced that the Hashgraph will be made open source after transferring the rights from Swirlds. So, the crypto space is expecting some fundamental changes to the Hedera ecosystem as soon as the council fills the 39th seat.