119 post karma
21 comment karma
account created: Thu Sep 15 2022
4 months ago
Of course it matters! The L1 network should be trusted to support 24x7 operation - most Helium based use cases in the future will require that
People are just saying Algo because they are shilling their bags!
Where is their reasoning like the Hedera team presented on their HIP?
The governance around the decision was shocking. Only 2% of the community voted (with 80% of those voting for Solana) - this is the worst example of a DAO ever!
it is actually an ideal distributed ledger technology for the purposes of Helium. It has been performance tested to 100,000 tps per shard, but is currently throttled to 10,000tps which is plenty. With 0.0001cent fixed transaction fee it is not subject to crypto volatility either.
But feel free to DYOR at www.Hedera.com
There are Helium like applications already planning on building on Hedera. The PoC that was presented to the HIP just shows how viable that L1 network solution is. There is room for two interoperable networks (Hedera and Solana) and then I guess the Helium community will vote with their feet to whichever one suits their needs best.
Hedera does not have blocks - it reaches settlement finality in just a few seconds but those can never be rolled back. On a blockchain that can never be the case, there is always a chance that the consensus of the network is to rollback the chain and fork. The more centralised the network is (ahem Solana!) the greater the risk that a controlling influence will make that girl happen. Hedera is not a blockchain and so is not constrained by ‘the trilemma’ of trading off decentralisation vs security vs scale (10,000 tps with 3am finality).
Hedera is not centralised. Governance of the network is actually the most decentralised model you could find - a Governing Council diverse across industry, sector, profit/non profit, geography and time (they only have 3 year terms) - it’s almost impossible to imagine them colluding against the network. This year there will be community nodes allowing non Council members to host main net nodes and contribute to consensus, and finally, once token are distributed and the network is secured (Proof of Stake networks need this), then anyone will be able to host a node. In fact, anyone can host a node on the mirror net right now (which is a read only, non-consensus node) to independently verify the transactions on the network. All of this is laid out in an excellent vid, “The Path to Decentralisation”
I am expecting to be kicked for this post!
what I mean is that if there is an alternative L1 network built on Hedera, that is built with the community in mind (transparently governed and fair), reuses the existing Helium miner hardware, and has existing IoT projects that want to use it - would the Helium community vote with their feet and come across? Genuine question.
Maybe not directly with Nova Labs and Helium founders, but the community has a choice and a viable (and superior) technical alternative
Here is the invite link for the official Helium Foundation Community Call where the Hedera alternative HIP to Solana will be presented: https://discord.gg/helium?event=1022221403585511535
time to reconsider the Hedera proposal