- How Canopyright manages cannabis IP
- Why Hedera was the right public ledger
- Implementation using Hedera Consensus Service
A BRIEF ABOUT HEDERA
Hedera is a public distributed ledger with a governing body based on hash graph consensus that will power the next generation of decentralized applications. Hedera is the most widely used, long-lasting, enterprise-grade public network for the decentralized economy, allowing people and corporations to build powerful decentralized apps (DApps). It aims to be a more egalitarian and efficient system that addresses some of the issues with previous blockchain-based platforms, such as slow performance and instability.
Hedera has a native token with a ticker (HBAR) which has dual purpose:
- It fuels Hedera services including smart contracts, file storage, and regular transactions.
- Secondly, it’s utilized to help protect the network, as HBAR users and holders can stake their tokens to help keep the platform running smoothly.
Hedera Hashgraph, unlike most other cryptocurrency platforms, isn’t constructed on top of a traditional blockchain. Instead, it introduces a Hashgraph, an entirely new sort of distributed ledger system. It can outperform many blockchain-based alternatives in numerous crucial aspects, including speed, cost, and scalability, thanks to this technology. Hedera transactions have a transaction cost of just $0.0001 USD on average, and they usually complete in within five seconds. Hedera Hashgraph claims to be able to process more than 10,000 transactions per second (TPS), compared to 5-20 for most prominent proof-of-work (PoW) blockchains.
CANNABIS IP RIGHTS ON HEDERA WITH CANOPYRIGHT
As highlighted by Hedera on their websites, Intellectual property management is a relevant component for any marketplace. For new and emerging markets, like legalized cannabis in the United States, it offers an opportunity to re-write how IP rights work. To evolve how we define ownership, Canopyrights looked to blockchain and distributed public ledgers. With a public ledger, every involved party can have an immutable source of truth for IP origination and verification.
The webinar will be centred on:
• How Canopyright manages cannabis IP
• Why Hedera was the right public ledger, and
• Implementation using Hedera Consensus Service
In this webinar, you’ll receive an overview of a new open-source policy-driven platform for the issuance of traceable sustainability assets called ‘Guardian’ from @SergMetelin (Hedera), @geisenbergerwes (@HBAR_foundation), @DanielNorkin (@env_blockchain): https://t.co/kQLQOFVnO6 pic.twitter.com/Ya4RhB1LyZ
— Hedera (@hedera) October 14, 2021
The webinar is going to take place on Oct 28, 2021 08:00 AM in Pacific Time (US and Canada) and registration is currently going on https://hedera.zoom.us/webinar/register/6116135173776/WN_MrxNDixGS9agL80GK2faDw
THE FUTURE FOR HEDERA
With a 24-hour trading volume of $228,076,690 USD, the current Hedera price is $0.372282 USD. In the previous 24 hours, Hedera has lost 0.87 percent of its value with a live market cap of $5,522,043,054 USD, ranking at #36. There are 14,832,972,491 HBAR coins in circulation, with a maximum supply of 50,000,000,000 HBAR coins.
There are distinctive features peculiar which made Hedera to be unique:
- Users can simply configure and mint both fungible and non-fungible tokens (NFTs) on Hedera with just a few lines of code using this token service.
- Any application or network that requires a safe, verifiable log of events can use this consensus service as a layer of trust.
- Developers can use their smart contract tools to create powerful and efficient decentralized applications.
- Proof-of-deletion, restricted mutability, and time-based file expiry are all elements of Hedera’s decentralized file storage services.