GBA-India startup Rejolut is the only startup selected from India to be a part of early open access of Hedera Hashgraph, an enterprise grade blockchain alternative to blockchain. Mumbai-based Rejolut will get early open access of Hedera before it goes live.
Rejolut is an emerging tech startup based out of Mumbai working on Blockchain, Ml/AI, RPA, IoT, AR/VR etc. They are also the winner of hackathon and release an open source sdk which has the smart contract capabilities.
Hedera Hashgraph, a public ledger developed for enterprise use-case started by Mance Harmon and Leemon Baird.They first started working together for the U.S. Air Force in 1993 as part of a team of five members responsible for building machine learning algorithm. They are launching its mainnet today, allowing developers to build Dapps on top of it. The distributed ledger is claiming to be the best alternatives to blockchain and they are competing with public networks and all the enterprise DLT frameworks such as Hyperledger Fabric & Sawtooth, R3 Corda, and others.
“That means we can natively support micro transactions or micropayments,” says Harmon.
Some of the common drawbacks of current blockchain solutions are performance, security, stability, governance and compliance
To address the problems outlined above, Hedera uses hashgraph to provide an alternative DLT. In order to move this industry forward, Hedera is creating a platform that has the following traits:
- High performance.
- Strong security.
- Industry-leading governance.
- Technical and legal controls to maintain platform stability.
Hedera’s node is run by some of the leading organisations like IBM, Tata Communication, Nomura, Boeing etc. Hedera offer the following service:-
- File Service
- Consensus Service
- Smart Contract
“Hedera Hashgraph stands out for their nimble consensus algorithm. It allows a large throughput of transactions without Layer 2 scaling solutions. Incentives are spread throughout all levels of the network which encourages everyone to generate value to make some back.” said Pablo Peillard Founder Hashing Systems According to Jonathan Hbarprice.com “ Hashgraph fast is its unique consensus mechanism and its first-in-class virtual voting algorithm that permits immediate feed-forward parallel processing that outperforms all other public networks with regard to speed, scale, security and stability.”
About Hedera:- Hedera Hashgraph which raised more than 100 million and claims $6 billion valuation is an enterprise grade blockchain alternative to blockchain. Hedera’s governing council has veterans like IBM, Boeing, Nomura, Tata Communication etc.