Hedera Tokenomics with Dr. Leemon Baird | Hedera18 Keynote
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- Опубликовано: 31 май 2024
- Dr. Leemon Baird, Chief Scientist & Co-Founder at Hedera Hashgraph, will discuss the tokenomics (token economics) of Hedera Hashgraph, including details around proxy staking, fees, and node payments on the Hedera public network. He’ll also touch on some of the obstacles of tokenomics seen across all distributed public ledgers, and how Hedera Hashgraph overcomes them. In his closing, both Leemon and Mance will be unveiling further details of governance and operations of the initial Hedera Hashgraph Council members and their associated committees.
Timestamps for this video
0:00 Intro
1:05 Cryptoeconomics - Payments, Fees and Data Micropayments
1:58 Hedera network gossiping transactions between nodes compared to queries
4:20 Hedera transaction fees (network fee, node fee and service fee)
12:09 Cryptoeconomics and incentivization regarding malicious nodes
15:23 Hedera node payments, staking and proxy staking
22:06 How are queries helpful?
23:19 How is the Hedera mirror net helpful (mirror nodes)?
27:30 Summary and use cases
Slides
www.slideshare.net/HederaHash...
Speaker
Dr. Leemon Baird | Co-Founder and Chief Scientist | Hedera Hashgraph
Developer resources:
Chat: hedera.com/discord
Docs: docs.hedera.com/guides
GitHub: github.com/hashgraph
Testnet Access: portal.hedera.com
Join our community to learn more:
Website: www.hedera.com
Twitter: / hashgraph
Telegram: t.me/hederahashgraph
Discord: www.hedera.com/discord
LinkedIn: / hashgraph
Medium: / hashgraph
Facebook: / hashgraph
Instagram: / hashgraph
Reddit: / hashgraph
Whitepaper: www.hedera.com/whitepaper
Consensus Service Whitepaper: www.hedera.com/consensus-service
#HederaHashgraph #LeemonBaird #Hedera18 
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👏History in the making people.. load up on HBAR life will be Great.📈
Incredible presentation! Leemon is a legend
Two years later and still rockin’. Hello future!
I just love his enthusiasm. Leemon is as genuine as they come.
This man is a legend!
Not investment advice. I bought at .52 and DCA'd all the way down to .04. I will keep accumaling this coin like it's gold, cause Web3 will be Built on Hedera! Bitcoin better move out of the way!
Mr Baird, is there any significance to using the Planks constant to represent Hbar?
this will be changing the world. get in before is going to be too late.
I liked the presentation and wonderful stage performance by dr. Baird. Hashgraph is a special standard and will quickly elevate in ranks because it’s a much needed solution.
I just realized that this technology can fix real world problems such as corruption in government and politics. The algorithms on hashgraph would fact-check everything at lightning speed incentivizing politicians to stay honest. Voting can even become more efficient by calling for a virtual vote by everyone at any point in time. Officials in office would then have no choice to keep their word and serve the people who elect them or dissatisfaction from their performance would instantly boot them from the job. For example, if 70 percent of users instantly voted to terminate a leader from a political office, they could be fired on the spot and the hashgraph would know who to instantly elect based on knowing who the majority wants elected. All of this can shift in real-time through the virtual voting system, because the hashgraph technology will know how you would vote before you vote. Term limits would then be an outdated model of cycling new leaders.
A true beholding tech. Excited about where this leads. I'm excited for this catching actual criminals, like distributors of child pornography , human trafficking, Foster care system corruption, actual "save the children" stuff not qAnon BS.
That would be dope!
Fantastic presentation Leemon. Loved it!
learning decentralization from Fiji 🇫🇯.... very important in our future.....
Hbar is currently 5 cents 11/26/22, I'm excited about the future. Change the world Hedera
Fantastic presentation Dr. Leemon Baird. Loved it!
Hoping for great things for Hedera.
its 4/19/21 and Hbar is around .30 cents. I will come back to this comment and smile in 6 years
Alright, let's do it. What kind of punishment would you accept if you are wrong?
@@ZelenoJabko death
@@ZelenoJabko death by snu snu
I bought at 13 cents I will too join you and come back in 6 yrs to rejoice with you and celebrate on the yacht
@@iplaycsrs hahaahha
Another use case: A catalogue of Product/Brand unit prices at a certain point in history of the item. A huge Product Database we currently do not have.
Professional, well explained presentation with great breakdown of the technical jargon.
Who’s here after Charles Hoskinson recent interview about Hedera? My main reason why I just bought HBAR.
How many did you get and at what price are you thinking of taking profit or exit
@@68OZ68 dont ever sell any of your HBAR.
The real Meta-verse begins here and I’m totally down for this kind
Satoshi must really love or hate Dr. Leemon 😂
Now I don’t understand it all and watched it because of all the FUD out there on the tokenomics. I have seen so many comments online about “bad economics” of Hbar. Well I hope they watch this and understand it more than I do. Maybe it will change their view?
Crazy how hedera is still 'under the hood'
enjoyed it!
Where can I find out more on what’s needed to create a node?
Fantastic
Q. Should one [or two] of the 39 nodes start to mess up i.e. their transactions stop going through - how long will the remaining 37 tolerate this? Who oversees the poor behaviour and how does Hedera police it? Will you kick out a node from the group. and if so how do you go about replacing them and informing the functioning nodes on what's evolving?
That's an impossible question to answer and that is a good thing. They are part of a council, so the decision would have to made as a council, no single company would call it. Also depends why the node stop gossiping, power outage, internet shutdown, company sold assets, etc.... I mean the number of variables are so long that the answer would depend on the issue.
Easily, the client can sign a transaction and send it to 2 or more nodes.
How easy is it to build a POC on Hedera? Any sample usecases to model after?
Hey Joshi! It can be quite easy. We actually have a lot of example code available on our GitHub (github.com/hashgraph ), including a WordPress micropayments demo, iOS + Android wallets, and others! Feel free to reach out to me directly if you have any questions or need help (twitter.com/cooper_kunz )
Just to clarify. The main net provides proof of stake to the mirror nodes?
Love HBAR
🥰
What are the advantages of hashgraph compared to blockchain?
The hashgraph algorithm is a next generation DLT which allows for fast, fair and secure transactions. There are great resources that offer more explanation, you can start here ruclips.net/video/b-pGoqBDWgY/видео.html
@Saint of Last Resorts -- To put it simple, Blockchain does transactions as a chain, hence the word. Thus the bottleneck for blockchain is waiting for the block to complete before processing to the next block. Hashgraph does not use this technology, they are instead using a gossip protocol; spread the message around as fast as you can to every node, make every node count the votes and then reach consensus based on timestamp for each node which voted. It is an overly simplified definition of the hashgraph, but accurate. Trx are treated in parallels and not serial.
Speed, transaction throughput, energy use.
I would like add Governance and patent as well. No technology is future proofed and having a governance model to adapt to changes is key. Patent is simply there to prevent forking; no serious company would make a DApp for a platform that may fork (it would eventually become a support nightmare if it ends up forking several times).
Supremax67 The original blockchain concept has evolved . Everyone compares Hedera tech to the generation 1 Bitcoin protocol . That’s 10 years ago . Ethereum 2.0, Polkadot , kusama , will bring sharding at 2 different layers . The data layer and the computational layer . This keeps the bullet proof security of a blockchain but with massive scale . This is why the Web 3 foundation is adopting this concept . What Hedera doing is very speculative and needs more testing with real projects .
what is proxy staking?
Hi Michael! :)
Proxy staking is the action your wallet will be able to do in the near future where you decide which nodes are considered trustworthy. You would proxy a certain amount of HBars on a node and at the end of the day, if the node acted in a good behavior and had at least a 99% uptime, you receive a bit of the reward the node received based on your overall proxy amount.
And they use the term proxy here because your HBars never actually leaves your wallet, nor does it get penalized if the node acted badly. The worst case scenario where the node acted badly, you simply don't get the daily reward for that proxy.
Proxy staking is coming soon, I believe this will be the year they roll it out, but honestly, I want to make sure they do it right and it is not a rush product.
P.S.: I am very active in the RUclips space, hence why I saw your comment here. Also, this is one of my favorite video from Dr. Leemon Baird as it addresses some important questions often asked in their Discord channel, so I often re-watch it for the answers.
@@Supremax67 Thanks for the answer
@@leakbit2437 -- Proxy staking is currently in Stage 1. There will be 4 stages to proxy staking. On stage 3, that is when you can start earning HBARs.
I have already proxy staked to a node and patiently waiting for Stage 3.
@@leakbit2437 -- Earning starts on Stage 3. But if you wait too long to stake, you won't get to pick your favorite node, there's a maximum allowed per node. Staking is happening now.
RAM / Storage / Network and Processing power, and energy use tend to get way cheaper over time as tech progresses, will that also be factored into transaction costs?
I don't believe so, as all things in life, they become ever so expensive. Their transaction cost is already very low. As technology and tps goes up, this will offset the cost of living (aka inflation). Hence why I don't see the fees to go up or down. It would not surprise me that a transaction fee of $0.0001 stays that way for decades; so from your perspective, that fee is going to feel smaller and smaller every year.
IS HBAR THE TICKER SYMBOL FOR HEDERA?
How would you figure that out?
It is
Buy hbar, quant, xrp, xlm, xdc, algo, iota, and eth in as large of quantities as you can.
hBarbarians unite! Hello Future
Lol.... there is such a thing as a free lunch, you just got to know where to eat :-)
Last I check, US hospitals charges you for your visit. Have fun explaining how you ended up with food poisoning.
@@Supremax67 American hospitals charge for everything. Thank God I don't live in America
is this a coin, if yes when it will be listed.
Some time in Feb 2019
Hedera doesn't control the exchanges but we can expect to be listed at some point in 2019. Keep an eye out for updates! :)
This one is flying under the radar... Definitely going to invest in this once it hits exchanges
@Tk Gz -- Utility Tokens actually, but yes, there will be exchanges that jumps on this opportunity. Just make sure you do your research before putting money on an exchange.
This is not Tokenomics in the sense that I know. No talk about the macro, only the micro of the network.
Wen moon?
Hedera Hashgraph Could be the King, the only problem, controlled by a group of people, like banks! Back to square one! Bitcoins is king, controlled by none/all people!
Bitcoin is and definitely will remain the king, but just three mining pools control 47% of Bitcoin's hashing power.
CHAD
nc
Watching now. I notice he isn't on Twitter all the time. Seems like a guy who works hard and blabs much less. Like the opposite of Elon. Could be a positive. "Incentivise people correctly." Sounds like a very long term thinking guy.
Just look at the governing council - this is going to the moon.
This guy could have played pennywise
Why would I want to pay for a service where everyone knows all my transactions all on one network. Big Brother and business merge?? I've never had a problem transferring money from my bank to another with zero transaction fees and not the whole world knowing.
I believe you are confusing the details about the transaction versus details of the transaction. You should also be looking the Hedera consensus service which offers all the benefits of the network + privacy.
As for your bank not charging you is called hidden fees, bank can only offer you a free service if they making money from you elsewhere and that is an extremely dangerous situation to be in. There is nothing free in life, everything has a cost and if someone is telling you this is "Free", then you are paying somewhere else. The sad part is you might not even know how long those strings are attached.
No one 'knows' that you made the transaction. It's just a consensus that your transaction occurred, and the details were correct. It's all encrypted using cryptographic hashing functions (which is why it's called cryptocurrency).
Jana - just know this will happen whether you agree with it or not. Now, will you at least make money from it so you get something out of the evolution of fiat. THAT is the question you’ll need to answer.
Jana, forget Hedera for now. The point of all decentralized currencies is a much deeper and important topic, and a response on a RUclips comment won't do it any true service, but will try...the bank you use isn't operating in your interest...government can freeze your account and your bank has to obey the government. your bank can freeze your account because its facing hardships. Your bank can falsely accuse you of having money coming from illegal sources...your bank can take off a zero from your account and make you go through hell to prove your funds are indeed yours; your bank can say you are not the real account holder; the money you use can lose value because the government decided to inflate supply....decentralized currency/token solutions eliminate all these problems.
frm a investor point of view : with 50 billion total supply, will be ever be able to reach 100$ ? looks unrealistic. why then anyone invest in it?
So going from 2 cents to a max below $100 is not enough?
You are correct Surajit, you shouldn't invest. If greed is your only motivation than you will miss being part of the next evolution in the public DLT space. Hedera is a solid project, you invest in it because they are building the future, not fluff. Profit just happens to be a side effect of that investment.
FUN FACT: The most profitable projects are usually the useless ones and the crypto scams. True story. But that also comes with all the risks of investing, so, good luck?
@@Supremax67 I agree with the fundamental of HBAR and it’s great potential, but I’m wondering why it’s too slow, Is this related to big institutions that just keep suppressing the price to keep it low?
@@enasbate2625 -- To my earlier argument, higher profits are crypto scams and useless projects.
And you say suppressing price? What price suppression? I bought it as low as 1 penny and that was less than 2 years ago. You know how many stock investors would kill for 600%+ annual returns? The best firms can only manage 35% annual returns.
Appreciate what you have, not what you don't have.
@@Supremax67 Yes it’s so promising, but I mean big companies Google, IBM, LG, Boeing are partnered with Hedera
My concerns is with all of that why it’s still cheap and small?
Are they regulating the price so that Hbar token isn’t under the sec scannner for being a speculation security?
That’s what happened to xrp
Bottom line, The tokenomnics are positively absolutely horrendous, but hey nobody's perfect 🥰💞
.. what?
@@Laziruss -- Don't mind him, he doesn't understand how tokenomics works in a proof of stake model.
Im an investor in HBAR but after watching Dr. Leemon Baird, I am happy to know that the majority of my investment is in XRP.
I don't trust this guy.
If you really don’t trust him why on earth are you invested in Hbar? There are hundreds of Alt coins you could invest in! Why would you invest in something you don’t trust?
@@richardroy1163 because the technology is superior to most alts on the market. Also they have some significant partners.
I think the project itself is solid. I just dont trust the CEO.
@@TreverSwelland You don't trust the CTO, but you believe the Tech is superior to most Alts? Sounds like a contradictory statement to me? This guy is literally the top voice telling you the Tech is superior and why -there isn't anyone better qualified to talk about it. The 'significant partners' -some very technical- have bought into his perspective and ideas. He has a comprehensive background that couldn't be better to be the one making these statements. He has presented his views and opinions at top universities and technical conferences all over the world and very few have seriously questioned his reasoning or statements (and those that have have generally been proven wrong)..... I just don't get it? Why don't you trust him? And if you don't why are you a holder of Hbar? -Sorry, to be clear, I'm not trying to be awkward or difficult or to attack you (we are all perfectly entitled to our opinions), I just genuinely want to understand why you say you don't trust him and why you would then invest in what HE is selling.
He is confused
@@TreverSwelland I feel the exact opposite about Dr.Baird.
This is an excellent resource for Healthcarprofessionalsdoingcryptohashgraph.