Hashgraph Online DAO Launches to Build a Fully On-Chain Internet
Hashgraph Online DAO LLC has officially launched, marking a significant step towards creating a fully decentralized, on-chain internet leveraging the power of Hedera’s Consensus Service (HCS). This ambitious project unites key players in the Hedera ecosystem, focusing on establishing industry standards, fostering open-source development, and building innovative decentralized applications (dApps) to deliver a seamless and accessible web experience for everyone. The DAO’s initial success, highlighted by the development and implementation of standards that have already processed millions of transactions, points to a promising future for a more transparent and equitable digital landscape.
Key Takeaways: A Decentralized Revolution
- Creation of a fully on-chain internet: Hashgraph Online aims to revolutionize the internet by moving it onto a decentralized, transparent blockchain infrastructure.
- Leveraging Hedera’s HCS: The project utilizes Hedera’s Consensus Service (HCS) for speed, security, and scalability, supporting millions of transactions.
- Open-source collaboration: A core principle is open-source development, fostering community involvement and innovation.
- Establishment of key standards: The DAO has already established foundational standards like HCS-1 and HCS-20, facilitating millions of transactions and laying the groundwork for a new internet infrastructure.
- Building a vibrant ecosystem: A strong foundation is laid by key founding members boasting diverse expertise in DeFi, NFTs, and web3 development.
The Vision: A Decentralized Internet for All
Hashgraph Online DAO’s mission is nothing short of transformative: to build a decentralized internet that prioritizes openness, transparency, and accessibility. This ambitious goal will be achieved through a three-pronged approach:
Establishing Industry Standards
The DAO is committed to establishing and expanding upon foundational standards for the on-chain internet. HCS-1 and HCS-20, already facilitating millions of transactions, exemplify the DAO’s dedication to creating robust and scalable solutions. The continued development and refinement of these standards, coupled with the creation of new ones, are vital to managing the complexities of decentralized technology and ensuring seamless interoperability between different parts of the on-chain internet.
Fostering Open-Source Development
Hashgraph Online firmly believes in the power of open-source collaboration. By making its tools, applications, and even its standards open-source, it aims to foster transparency and community participation. This collaborative approach significantly lowers the barrier to entry for developers and encourages wider adoption of the technology, making the on-chain internet more accessible to a larger global community. It is the underlying philosophy of transparency and mutual benefit that makes this open-source approach distinct and crucial to the project’s success.
Delivering Innovative Products and Services
The DAO has pledged to develop and deliver decentralized applications (dApps) that seamlessly integrate into this new internet infrastructure. The goal is to create a user-friendly experience that doesn’t compromise the security and transparency of the underlying blockchain technology. This focus on user-friendly design and functionality is just as critical as the technical underpinnings of the project.
The Power Players: Founding Members and Their Contributions
Hashgraph Online’s success relies heavily on the collective expertise of its founding members. These organizations represent diverse skillsets and experience, which are critical for the development of a comprehensive and robust on-chain internet.
- Bonzo Finance: Provides non-custodial lending capabilities, strengthening the DeFi ecosystem within the on-chain internet.
- Builder Labs: Offers their software engineering prowess to create and maintain the core infrastructure and applications.
- HashGate: Develops secure and user-friendly payment gateways to facilitate seamless transactions within the decentralized environment.
- HashPack: Contributes their expertise in secure wallets, allowing users to easily access and manage their digital assets.
- Hgraph: Provides vital mirror node services and engineering support, bolstering the stability and reliability of the network.
- KiloScribe: Focuses on on-graph file storage and retrieval, which is extremely important for a functional internet.
- LaunchBadge: Brings advanced engineering expertise to various aspects of development and implementation.
- SentX: Offers its industry-leading NFT marketplace, expanding the ecosystem of digital assets on the on-chain internet.
- Turtlemoon: Provides extensive experience in developing and launching successful Web3 platforms and applications.
“Together, we are building the foundation for a new type of on-chain internet—one that prioritizes security, equity, and decentralization,” shares Patches, CEO of Turtlemoon, emphasizing the collaborative spirit driving the project forward.
Building on Success: The Genesis of Hashgraph Online
The foundation for Hashgraph Online was laid with the creation of HCS-20, the Auditable Points Standard on Hedera, in January 2024. Developed by Turtlemoon, HCS-20 facilitated over 18 million transactions. Subsequent collaboration led to the development of HCS-1 and HCS-5, enabling secure on-chain storage and the creation of “Hashinals,” tokenized digital assets resulting in over 141,000 NFTs and further millions of transactions. This early success demonstrates the viability and scalability of the technology underpinning Hashgraph Online.
The Hedera Consensus Service: The Technological Backbone
The Hedera Consensus Service (HCS) is integral to Hashgraph Online’s success. Its speed, security, and scalability are perfectly suited for the high-volume transaction environment. HCS provides the core infrastructure, ensuring the reliability and efficiency needed to support the millions of transactions already processed and anticipated in the future. It is the foundation upon which the entire on-chain internet is built.
Future Directions: Expanding the On-Chain Internet
The launch of Hashgraph Online DAO is merely the first step in a much larger journey. Future plans include:
- Expanding standards and open-source tooling: Creating new and improved standards to address emerging technological needs and ensuring ongoing adaptability.
- Enhancing cross-chain data referencing: Developing standards to allow seamless data exchange across multiple blockchains, enabling truly interoperable systems, including the creation of HashSites and a Bitcoin Browser.
- Launching the Hashgraph Online Token: Developing a dedicated token to facilitate governance, participation, and further incentivize development within the decentralized ecosystem.
“Hashgraph Online is rooted in open collaboration across the ecosystem, driving advancements in Hashgraph and Web3 technology,” says May Chan, CEO of HashPack, highlighting the community-driven nature of this ambitious project.
Join the Movement: Building the Future Together
Hashgraph Online DAO extends an open invitation to organizations, developers, and individuals passionate about shaping the future of the internet. The ambitious vision of a fully on-chain internet is a collective endeavor, and contributions from across the Web3 community will be pivotal in the success of this transformative project.
