1.1 Built on Hedera
Hedera is a decentralized, open-source, proof-of-stake public ledger that utilizes the leaderless, asynchronous Byzantine Fault Tolerance (aBFT) hashgraph consensus algorithm. It is governed by a collusion-resistant, decentralized council of leading enterprises, universities, and web3 projects from around the world.
Hedera’s performance-optimized Ethereum Virtual Machine (EVM) smart contracts, along with its easy-to-use native tokenization and consensus service APIs, enable developers to create real-time web3 applications and ecosystems that will drive the future of the internet.
Hedera is built differently from blockchains. It has high throughput with fast finality; low, predictable fees; fair transaction ordering with consensus timestamps; and a robust codebase that ensures scalability and reliability at every layer of its network infrastructure. Hedera is governed responsibly by the world’s leading organizations to ensure that the network is collusion-resistant.
Recently, Hedera Foundation focuses on community-driven retail innovation and institutional adoption of the Hedera network. It will also foster the growth of tokenization, artificial intelligence (AI), and decentralized finance (DeFi) solutions.
With the grant from the Hedera Foundation, SALT team will build a DEX/ DeFi ecosystem on Hedera.
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