Hedera Co-Founder Sees NFT Boom Boosting DLT Popularity

• Mance Harmon, co-founder of layer 1 DLT Hedera, recently appeared on Paul Barren Network to discuss the growth and performance of his firm.
• Despite the crypto winter last year, Hedera’s total value locked (TVL) rose by more than 33%. The network saw massive growth due to decentralized exchanges, staking platforms, tokenization services and so on.
• Harmon expects that NFTs with supply chain use cases will drive further growth for the platform in the future.

Harmon Discusses Growth of DLT Firm

Mance Harmon, co-founder of popular layer 1 DLT Hedera recently appeared in an interview on Paul Barren Network. During the interview Harmon discussed various aspects of his blockchain firm including decentralization, its growing governance council, and recent partnerships. Despite the bear market last year Hedera proved its resilience with a total value locked (TVL) rising by more than 33%. The network saw massive growth thanks to decentralized exchanges like SaucersSwap and staking platforms like Stader Labs. Tokenization services, consensus service, filesystems and smart contracts also contributed to this growth. When asked about the decreased presence of blockchain firms at Davos Summit due to crypto winter Harmon said that it was a perfect opportunity for Hedera to demonstrate real-world case studies using their technology as it has been able to create a degree of decentralization no other layer 1 firm has achieved yet.

Objectives Achieved According To Whitepaper

According to Mance Harmon most objectives listed in their whitepaper have been completed but there is still work being done towards adding community run nodes and additional shards/networks within 24 months in order for their technology to scale up transactions with really high throughput needed for market demand.

NFTs Expected To Drive Further Growth

In terms of NFT driven growth Harmon is counting on a tokenized world in near future where everything we see and touch will be associated with digital twin tokens which are mostly going to be NFTs. He believes these use cases will branch out from existing crypto focused spaces such as gaming into loyalty programs and rewards among others which are expected to drive further growth for Hedera platform when it comes to NFTs.

Harmon’s Participation At Davos Summit

Harmon participated at Davos summit last month where he spoke about how despite FUD related risks associated with bear market his team was able to ensure strong performance during fourth quarter of last year thanks usage from decentralized exchanges like SaucersSwap ,staking platforms like Stader Labs etc along with tokenization services ,consensus service ,filesystem and smart contracts . He stated that overall tone at summit was pragmatic rather than flashy making it perfect time for them showcase real world case studies using their own technology given they had already achieved degree decentralization no other layer 1 firm has achieved yet .

Conclusion

Mance Harmon concluded his interview by highlighting how far down the line they have come since launch as most objectives included in whitepaper were now complete ,however some milestones such as scalability transaction processing still remain . He remains hopeful that coming days will see use cases emerging from core crypto focused spaces such as gaming into loyalty programs supplies chain driving further growth for Hedera platform .