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Hedera's Path to Decentralization

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Public blockchains and distributed public ledgers are experiencing centralization concerns around coin accumulation and mining power. The promise of true decentralization has remained, thus far, just a promise.

In this talk, Leemon presents Hedera's vision and methodical plan to go from a permissioned public network at open access this summer (US), to a truly decentralized and permissionless public network with massive scale. In order to achieve this, Hedera must establish a secure, decentralized foundation for its proof-of-stake network and utility for the network's native cryptocurrency HBAR (ℏ).

Publié dans : Technologie
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Hedera's Path to Decentralization

  1. 1. Our Path To Decentralization Featuringthe ReleaseSchedule ©2019 Hedera Hashgraph, LLC. All rights reserved.
  2. 2. Dr.LeemonBaird Co-founder + Chief Scientist
 
 HEDERA HASHGRAPH
  3. 3. To be the most decentralized public network 
 at scale in the market GOAL
  4. 4. hedera.com ©2019 Hedera Hashgraph, LLC. 
 All rights reserved. 2012 LEEMON STARTS SOLVING FOR DISTRIBUTED CONSENSUS 
 AT SCALE 2015 HASHGRAPH ALGORITHM IS DISCOVERED 2018 2019 HEDERA
 ANNUAL 
 ASSEMBLY FEBRUARY HEDERA OPEN ACCESS SUMMER TODAY 2019 2016 2017 SWIRLDS LAUNCHES FIRST PRIVATE PERMISSIONED NETWORK HEDERA PUBLIC LEDGER CONCEIVED Our Journey 2018 HEDERA NETWORK GOES LIVE MARCH AUGUST 2018 HEDERA18 DEVELOPER CONFERENCE AND GLOBAL HACKATHON OCTOBER PUBLIC NETWORK ANNOUNCED LEDGER EXTENDED TO PARTICIPATING ORGANIZATIONS ANONYMOUS NODES MADE AVAILABLE TO ANYONE 2019 COMMUNITY TEST PROGRAM PHASE 2 MAY 2019 COMMUNITY TEST PROGRAM PHASE 1 JANUARY
  5. 5. hedera.com ©2019 Hedera Hashgraph, LLC. 
 All rights reserved. Requirements for decentralization Decentralized
 Governance Network
 Utility Permissionless
 Nodes Currency 
 Distribution
  6. 6. hedera.com ©2019 Hedera Hashgraph, LLC. 
 All rights reserved. PERMISSIONED PERMISSIONLESS PRIVATE PUBLIC Distributed Ledger Technology (DLT)
  7. 7. hedera.com ©2019 Hedera Hashgraph, LLC. 
 All rights reserved. Hedera is on the path 
 from public permissioned 
 to public permissionless PERMISSIONED PERMISSIONLESS PRIVATE PUBLIC Distributed Ledger Technology (DLT)
  8. 8. hedera.com ©2019 Hedera Hashgraph, LLC. 
 All rights reserved. Hedera network is FULLY DECENTRALIZED if BOTH the following are true: How Hedera Works + Widelydistributedcoins
 (nolargecoinconcentrations) Permissionless
 (manynon-permissionednodes)
  9. 9. hedera.com ©2019 Hedera Hashgraph, LLC. 
 All rights reserved. Hedera network is SECURE if ANY ONE of the following is true: How Hedera Works OR OR + (Total cap is important, not 
 price per coin. Employee coins and 
 early SAFTS were 0 or close to 0 ¢/ . Last SAFT was 9.6 and 12 ¢/ .) Less
 than1/3 circulating Not
 permissionless (manynon-permissionednodes) Widely
 distributedcoins Highcirculating
 coincap
  10. 10. Proof-of-work vs proof-of-stake Scarce resource = computing power Significant waste of electricity Slower to reach consensus Mining pools MINERS POWER STATIONS Proof-of-workblockchain
  11. 11. Proof-of-work vs proof-of-stake Scarce resource = computing power Significant waste of electricity Slower to reach consensus Mining pools Scarce resource = coins Energy efficient Faster to reach consensus No mining pools needed MINERS POWER STATIONS vs Proof-of-stakesystemsProof-of-workblockchain
  12. 12. hedera.com ©2019 Hedera Hashgraph, LLC. 
 All rights reserved. Requirements for decentralization Decentralized
 Governance Network
 Utility Permissionless
 Nodes Currency 
 Distribution
  13. 13. hedera.com ©2019 Hedera Hashgraph, LLC. 
 All rights reserved. Decentralized Governance Hedera governance is decentralized with 
 council distributed in geography, industry, and time
  14. 14. HIGH LOW HIGH Abilitytomakecomplexdecisions Trust numberof decisionmakers A governance model where power cannot be consolidated
  15. 15. HIGH LOW HIGH Abilitytomakecomplexdecisions Trust Anarchy
 0 numberof decisionmakers A governance model where power cannot be consolidated
  16. 16. HIGH LOW HIGH Abilitytomakecomplexdecisions Trust Direct
 Democracy
 ALL Anarchy
 0 numberof decisionmakers A governance model where power cannot be consolidated
  17. 17. HIGH LOW HIGH Abilitytomakecomplexdecisions Trust Direct
 Democracy
 ALL Anarchy
 0 Dictator
 1 numberof decisionmakers A governance model where power cannot be consolidated
  18. 18. HIGH LOW HIGH Expert
 Council
 SEVERAL Abilitytomakecomplexdecisions Trust Direct
 Democracy
 ALL Anarchy
 0 Dictator
 1 numberof decisionmakers A governance model where power cannot be consolidated
  19. 19. weak governance 
 (if can’t enforce decisions) HIGH LOW HIGH Expert
 Council
 SEVERAL Abilitytomakecomplexdecisions Trust Direct
 Democracy
 ALL Anarchy
 0 Dictator
 1 numberof decisionmakers A governance model where power cannot be consolidated
  20. 20. hedera.com ©2019 Hedera Hashgraph, LLC. 
 All rights reserved. GOVERNING COUNCIL Runbytheworld'sleadingenterprises
  21. 21. hedera.com ©2019 Hedera Hashgraph, LLC. 
 All rights reserved. Governance Up to 39blue-chip enterprises and organizations with 
 $10B+ revenue 18unique industries across 5continents, touching all major markets Every member required to run a network node Members not compensated beyond network node payments Governing Council 2.6%influence per member (equal vote) 7committees:
 Membership, Marketing, Finance, Audit, Technical Steering/Product Pricing, Legal & Regulatory 3-year maximum
 term, with up to 
 2 consecutive terms First 38additional members selected by Hedera Hashgraph; council membership committee will find replacements 1 2 4 3 5 8 10 9 6 7 12 13 14 15 1718 19 16 11 20 21 22 23 24 25 26 27 28 29 30 31 32 33 35 34 37 36 39 38
  22. 22. hedera.com ©2019 Hedera Hashgraph, LLC. 
 All rights reserved. Technical 
 Controls • No Forks • Ensures simultaneous 
 software upgrade Hedera’s Strong Governance Legal 
 Controls • Patents & IP protections • No license required to use network • Open code review (after Beta)
  23. 23. We see Hedera providing 
 stability for our clients who want confidence that the ecosystem they build can’t be ripped in two. “ SCOTT THIEL PARTNER
 DLA PIPER
  24. 24. We are proud to 
 be an initial governing member of the Hedera Hashgraph Council. “
  25. 25. Hedera has uniquely thought through the security, governance and scalability that have hampered early blockchain technology. “ JOHN CALIAN SVP, HEAD OF T-LABS
  26. 26. DLTs and decentralized apps represent a disruptive opportunity… we are excited to be members of the Hedera Governing Council. “
  27. 27. Nomura is an Asia- headquartered financial services group with an integrated global network spanning over 30 countries.
  28. 28. hedera.com ©2019 Hedera Hashgraph, LLC. 
 All rights reserved. Learnmoreandwatchcouncilmembervideosat: www.hedera.com/council
  29. 29. hedera.com ©2019 Hedera Hashgraph, LLC. 
 All rights reserved. Network Utility
  30. 30. hedera.com ©2019 Hedera Hashgraph, LLC. 
 All rights reserved. 3rd PARTY APPLICATIONS Cryptocurrency Smart Contracts File Service Individuals Enterprises Devices Governments HASHGRAPH CONSENSUS MEDIA LEGAL HEALTH GAMING LOGISTICSCOMMUNICATIONS REAL ESTATE SOCIAL CAUSESFINANCIAL END USERS PRIVATE DLT HEDERA 
 GOVERNING 
 COUNCIL
  31. 31. PAYABLE LINKS BUMPED INC. OLPORTAL.AIGenesisNet Plugg 1,080+DevelopersonTestnet
  32. 32. Integrate Chainlink’s decentralized oracle network with Hedera to allow developers writing Hedera-based smart contracts to access real-world data, events and payment information. Buildingthefuturetogether
  33. 33. Enabling superior drug development and patient care decision-making through model-informed drug development, regulatory science, real world evidence, and knowledge integration, thus optimizing R&D productivity, commercial value, and patient outcomes.  Buildingthefuturetogether
  34. 34. Upload brand assets with Rights Data associated with the intellectual property on the platform. After verifying ownership, Rightory assists in embedding unique rights data and storing that in Hedera. You can then monetize assets in their marketplace or transact privately via the Rightory token wallet. Buildingthefuturetogether
  35. 35. PAYABLE LINKS BUMPED INC. OLPORTAL.AIGenesisNet Plugg 1,080+ DEVELOPERS ONTESTNET
  36. 36. PAYABLE LINKS BUMPED INC. OLPORTAL.AIGenesisNet Plugg 1,080+ DEVELOPERS ONTESTNET 15,380+ MEETUP
 MEMBERS
  37. 37. PAYABLE LINKS BUMPED INC. OLPORTAL.AIGenesisNet Plugg 1,080+ DEVELOPERS ONTESTNET 560+ APPSUNDER DEVELOPMENT 15,380+ MEETUP
 MEMBERS
  38. 38. PAYABLE LINKS BUMPED INC. OLPORTAL.AIGenesisNet Plugg 560+ APPSUNDER DEVELOPMENT 15,380+ MEETUP
 MEMBERS 6,970+ DEVELOPERS
 INDISCORD 1,080+ DEVELOPERS ONTESTNET
  39. 39. Incubating DAPPs on Hedera
  40. 40. HopOn by Nuvonic is a WiFi Hotspot sharing application that uses Hedera's Micro-Transactions to charge users accordingly depending upon the data they use. Data Rate is set by Internet Provider distributing the connection with a minimal charge of processing.
  41. 41. A farm-to-table supply chain management solution with a simple and fast blockchain-powered platform helping producers and consumers address key supply chain challenges such as production efficiency, food safety and authenticity.
  42. 42. Integrating Payable Links with DLTs which support micropayments and offering a good experience, low fees and time-effective transactions. PAYABLE LINKS
  43. 43. hedera.com ©2019 Hedera Hashgraph, LLC. 
 All rights reserved. Methodical Path to Permissionless
  44. 44. hedera.com ©2019 Hedera Hashgraph, LLC. 
 All rights reserved. Permissioned Council Member Nodes
  45. 45. hedera.com ©2019 Hedera Hashgraph, LLC. 
 All rights reserved. Permissioned Council Member and Other Nodes
  46. 46. hedera.com ©2019 Hedera Hashgraph, LLC. 
 All rights reserved. Permissionless Nodes
  47. 47. hedera.com ©2019 Hedera Hashgraph, LLC. 
 All rights reserved. Security
  48. 48. hedera.com ©2019 Hedera Hashgraph, LLC. 
 All rights reserved. Security SYBIL ATTACK RESISTANT ASYNCHRONOUS BYZANTINE FAULT TOLERANT DDOS ATTACK RESISTANT Hedera hashgraph has the strongest level of security possible, Asynchronous Byzantine Fault Tolerance (ABFT). The platform is the only distributed ledger technology that has formally proven this quality. Best-in-Class Security Hedera is Coq Proof confirmed
 “Gold Standard” for security 
 by Carnegie Mellon
  49. 49. hedera.com ©2019 Hedera Hashgraph, LLC. 
 All rights reserved. Asynchronous Byzantine Fault Tolerance (ABFT) Enterprise-Grade Security ABFT offers the highest degree of security a consensus algorithm can provide. Finality of Consensus Finality of consensus is reached with probability one. State proofs can mathematically prove to a third party facts such as balances and file contents. One-Third Rule Finality of consensus is reached assuming attackers control less than ⅓ of stake (in proof-of-stake systems) or ⅓ of nodes (in non-proof-of-stake systems). The network freezes when ⅓ are offline. These guarantees are still true, even if an attacker can delay or delete most messages on the network, as long as honest nodes can still communicate occasionally. ABFT means that consensus will reach finality (with probability one), that nodes never reach contradictory consensus, and that this is still true even if the attacker controls almost 1/3 and strongly influences communication. Security
  50. 50. hedera.com ©2019 Hedera Hashgraph, LLC. 
 All rights reserved. DDoS Attack Gossip Resilience Gossip is a messaging model that is resilient to any small number of nodes being taken offline by a DDoS. Leaderless Hashgraph does not rely on a leader, ie a particular node having special privileges towards consensus – consequently a DDoS against one node cannot compromise consensus. In a Distributed Denial of Service (DDoS) attack an attacker corrupts thousands of computing devices (IP cameras etc.) and uses them to flood an honest node with packets and so prevent them from contributing to consensus. Security
  51. 51. hedera.com ©2019 Hedera Hashgraph, LLC. 
 All rights reserved. Sybil Attack Proof-of-Stake Systems Each node has an influence on the consensus, proportional to the amount of cryptocurrency that it owns. 
 An attacker gains no extra influence by creating multiple nodes. Proxy Staking A user who isn’t running a node can proxy stake their hbars to a node. The node’s influence is proportional to both its own coins and those proxy staked to it by other users. Coins are not bonded or slashed, and can transfer at any time. Treasury Coins proxy staked Initially, all hbars are held in the Hedera treasury, and are proxy staked to trusted nodes. Over time, the coins are released and become distributed for decentralization. In a Sybil attack, a malicious actor creates thousands of nodes in hope of gaining undue influence on consensus or to manipulate transactions. Security
  52. 52. hedera.com ©2019 Hedera Hashgraph, LLC. 
 All rights reserved. Wide distribution of hbars
  53. 53. hedera.com ©2019 Hedera Hashgraph, LLC. 
 All rights reserved. Dual role of hbars NETWORK “FUEL” Coins are used to pay 
 for network services Coins are used to reward nodes for 
 providing services to the network Coins enable micropayments Any distributed ledger can be 
 attacked if a malicious actor controls 
 >1/3 of voting power Hedera’s proof-of-stake system uses coins to weight the votes Makes it difficult and expensive for a bad actor to gain control of more than >1/3 of the voting power NETWORK PROTECTION +
  54. 54. hedera.com ©2019 Hedera Hashgraph, LLC. 
 All rights reserved. Proxy staking Hedera Treasury (held by Hedera Hashgraph, LLC)Proxy-staked coins User with hbarsProxy-staked coins *Hedera Treasury staked coins * * * * * *
  55. 55. hedera.com ©2019 Hedera Hashgraph, LLC. 
 All rights reserved. NodePayment Node ProxyStake User ProxyPayment Proxy staking
  56. 56. Node 3rd Party Applications Transaction Fees Node Reward Payments End Users Exchange Hedera Network Node Node dapp dappdapp Proxy Staking Payments Proxy
 Stakers Lifecycle 
 of coins
  57. 57. hedera.com ©2019 Hedera Hashgraph, LLC. 
 All rights reserved. 6.6% 16% 23% 29% 33% 47% 58% 64% 69% 75% 80% 85%% TOTAL COINS RELEASED: 50,000,000,000 (100%) Initial Release YEAR
 1 • The leftmost bar represents the first year, from August 24 2018 to August 24 2019 • The green portion of that bar is the amount released by the first day of Open Access • The above is the current plan, and may be adjusted by the council 90% 95% 100%4.66% Network Launch August 24, 2018 Coinrelease≠Coinsale 15-year release schedule Estimated % of hbars released by day of open access % of hbars released to the market by end of each year YEAR
 2 YEAR
 3 YEAR
 4 YEAR
 5 YEAR
 6 YEAR
 7 YEAR
 8 YEAR
 9 YEAR
 10 YEAR
 11 YEAR
 12 YEAR
 13 YEAR
 14 YEAR
 15 100%
 Released
  58. 58. hedera.com ©2019 Hedera Hashgraph, LLC. 
 All rights reserved. Released hbars are seen to be concentrated?
 Or low circulating coin cap? • Security: HBAR concentration has
 NO security problems until anonymous nodes are allowed • Hedera should delay anonymous nodes, not delay HBAR release • HBAR release helps with the concentration problem: it lets more people have hbars • Sharding can also be delayed until confident that hbars are widespread, and hard for a single attacker to buy 1/3. What if… YEAR
 YEAR
 YEAR
 YEAR
 YEAR
 YEAR
 YEAR
 YEAR
 YEAR
 YEAR
 YEAR
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 YEAR
 YEAR

  59. 59. hedera.com ©2019 Hedera Hashgraph, LLC. 
 All rights reserved. Summary
  60. 60. hedera.com ©2019 Hedera Hashgraph, LLC. 
 All rights reserved. Path to decentralization
  61. 61. hedera.com ©2019 Hedera Hashgraph, LLC. 
 All rights reserved. Path to decentralization Decentralized
 Governance initial 39 revolving
  62. 62. hedera.com ©2019 Hedera Hashgraph, LLC. 
 All rights reserved. Path to decentralization Decentralized
 Governance Network
 Utility initial 39 revolving Increasing number of applications over time
  63. 63. hedera.com ©2019 Hedera Hashgraph, LLC. 
 All rights reserved. Path to decentralization Decentralized
 Governance Network
 Utility Permissionless
 Nodes initial 39 revolving Increasing number of applications over time MAINNET: 
 council participating orgs anonymous MIRRORNET:
 anonymous SHARDS: 
 one a few many
  64. 64. hedera.com ©2019 Hedera Hashgraph, LLC. 
 All rights reserved. Path to decentralization Decentralized
 Governance Network
 Utility Permissionless
 Nodes Currency 
 Distribution initial 39 revolving Increasing number of applications over time MAINNET: 
 council participating orgs anonymous MIRRORNET:
 anonymous SHARDS: 
 one a few many Released smoothly over a long period 
 (15 years)
  65. 65. CommunityTestingProgram PHASEII May13 200+millionhbarcoinswillbemadeavailable Signupat:
 hedera.com/portal
  66. 66. +
  67. 67. +
  68. 68. +
  69. 69. +
  70. 70. +
  71. 71. + JDX Coin
  72. 72. hedera.com ©2019 Hedera Hashgraph, LLC. 
 All rights reserved. !72 • Earn 5 for every 100 testnet transactions from your account • Download Hedera Java SDK – build your own apps • Contribute to open-source community SDKs • Use our open source utilities (github.com/hashgraph): • Chrome browser extension • IoS/Android Wallet • Word Press website plug-in • Connect your application to the mainnet at Open Access H E D E R A DEVELOPER
 TESTNET 
 PROGRAM
  73. 73. hedera.com ©2019 Hedera Hashgraph, LLC. 
 All rights reserved. !73 $30.00 250 Test the mainnet & earn up to
 250 • Read articles • Listen to podcasts • Watch videos WWW.DAILYTIMESTAMP.COM Community
 TestingProgram PHASEII
  74. 74. hedera.com ©2019 Hedera Hashgraph, LLC. 
 All rights reserved. !74 Purchase a star via smart contracts and receive 100 SPECIAL THANKS TO
 Dr Nikolaos Siafakas hash-hash.info Community
 TestingProgram FUTUREPHASE
 SmartContracts
  75. 75. THANK YOU
  76. 76. ©2019 Hedera Hashgraph, LLC. All rights reserved. For more information please visit:
 www.hedera.com

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