Mance Harmon Hedera co-founder discusses performance in a terrible market

Mance Harmon, a co-founder of Hedera, discusses the progress of his DLT company within the down market.

Mance Harmon, the creator of the famous layer 1 DLT Hedera, recently appeared on Paul Barren Network for an interview. Throughout the course of the conversation, Harmon discussed several facets of his blockchain company, including decentralization, its expanding governing council, and recent collaborations.

During the interview, Mance Harmon, a co-founder of Hedera, underlined the company’s great success in the fourth quarter of last year.

The layer 1 decentralized layer technology (DLT) company’s total value locked (TVL) increased by more than 33% in the face of mounting FUD and falling crypto prices.

Due to decentralized exchanges such as SaucersSwap and staking platforms like Stader Labs, the network traffic grew exponentially, according to Harmon.

The expansion is also supported by tokenization services, the Hedera consensus service, the filesystem, and smart contracts.

Last month, Hedera participated in the Davos Summit. When questioned about the lower participation of blockchain companies at the summit as a result of the crypto winter, Harmon said that the general tone was more pragmatic than showy, giving it the ideal chance for Hedera to showcase real-world Hedera case studies.

According to him, no other layer 1 company has been able to reach the kind of decentralization that Hedera has.

On the development and success of Hedera, the co-founder noted that most of the goals had been attained.

According to him, one of the most crucial remaining milestones is the capacity of a layer 1 DLT to scale and execute transactions with very high throughput in order to fulfil market demand.

He said that his team is pursuing the addition of community-run nodes. The installation of new shards and networks is projected to occur during the next 24 months.

As far as NFT-driven expansion is concerned, Harmon anticipates a tokenized future. “Everything you see and touch will have a digital counterpart in the form of a token, which will more often than not be an NFT.”

According to him, the use cases for NFTs will expand beyond the core crypto-focused areas such as gaming, loyalty, and incentives, and NFTs connected with supply chain use cases will fuel development.

The performance of the native token HBAR since the beginning of the year has been rather outstanding. According to statistics from CoinMarketCap, the cryptocurrency was trading at $0.088 at press time, an increase of more than 144% year-to-date.

The increasing popularity of the project has led to a surge in trading activity, which is represented in the 26% rise in its daily trading volume.

Also Read: Migration To Solana By Helium Network Is Scheduled For March