About Hedera
Hedera is a decentralized public network where anyone can carve out a piece of cyberspace to transact, play, and socialize in a secure, trusted environment. Technical briefing by Greg Scullard & Lina Tran.
Overview of briefing
00:00 – 3:14
Greg Scullard opens with an introduction of the “public distributed ledger” that is Hashgraph. He expands on the robust feature set including low fees pegged to USD, natively multi-sig, and the always important speed.
He goes on to explain the services provided by Hedera including crypto, token, consensus, scheduled transactions, and contracts.
3:14 – 3:20
Greg displays the multitude of technical assets on one slide. The homepage is hedera.com, but you can find the link to any language or part of the community from this slide.
3:20 – 3:51
Greg opens the demonstration with a view of the Hedera platform. He explains the creation of “Demo Token 1” that was created by Greg before the demo started.
As the distributor of this token, Greg shows that he sent 200 of said token to “Bob” in this case.
3:51 – 5:10
Greg created a new token in honor of this auspicious event by the name of “vsumSix.” After naming the token, we’re walked through the steps associated with the final creation of this token.
Greg shows us the option to make the token “whole” or “fractional” depending on the use case. He also has the ability to decide on a variable or fixed supply of said token.
Moving on to the mutability of this token, we see that this is a simple binary choice of yes or no.
5:10 – 7:00
After making half of the decisions associated with the token creation, we arrive at the option to KYC the token holder. This is totally optional as is pointed out.
Greg expands on KYC to explain that Hedera is not necessarily providing the platform to run this decision.
Hedera is unique in its ability to wipe a number of tokens from the supply if there are bad actors or whatever other number of reasons one might want to claw back tokens. In addition to the ability to wipe tokens, there is also an option for freezability.
We are getting a full glimpse into the feature richness of the Hedera platform.
7:00 – 7:28
After creating the token, it takes mere seconds to run this transaction.
Greg points out that this “creation” is final. No claw backs or redos.
7:28 – 7:45
Greg jumps to a new screen to show the created token, the associated of the token account, etc..
7:45 9:05
Greg is now taking on a new persona in the user journey: Alice. Alice is already associated with demo token one and now she’s being associated with VsumSix.
What does this mean? It means that Alice and Bob are able to receive their drops because they’ve associated them with the token.
9:05 – 10:04
Greg reverts to the issuer to grant Alice and Bobs KYC.
Returning to the token, Greg can now transfer tokens to Alice within a few seconds.
Greg points out that every click in the process is noted in the ledger.
10:04 – FIN
And now it’s time for your main event and the coolest sounding thing in the world of DeFi: the atomic swap.
Greg is demonstrating the robust nature of the atomic operations available within Hedera Hashgraph.
The swap takes place and the tokens are moved as the logic stated. Baboom.
Additional Information
V-Sum_Six is made possible by Costanoa Ventures and IowaEDA.