Several nodes in the “Hedera Hashgraph” project were closed without warning
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Answer Several nodes in the “Hedera Hashgraph” project were closed without warning
Hedera Hashgraph, one of the newer and better known in the crypto arena for 2019, has recently come into a bad spot and is under negative media once again.
The nodes were closed without any warning at all, indicating that the network could be more centralized than it appears.
The community noted that among the 10 allocated nodes to collect4 of them are closed, which is considered as a trend for greater centralization.
The closing of these many nodes actually makes Hedera Hashgraph a central institution.
This is because in an open network the ledger cannot be secured with just six nodes, as that would be an open invitation for Sybill attacks.
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Hedera Hasgraph has allowed public nodes to run, but the rule for governance and decision-making rests with the board nodes that make decisions about software updates and network resources.
Accordingly, the contract will be operated by a few companies such as IBM, Boeing and Deutsche Telekom.
Hedera Hashgraph coin and project was one of the fastest projects to get instant listing of its coin on Binance crypto exchange in 2019.
The organization was marketed with a traditional business structure led by Mance Harmon, the company’s co-founder and CEO.
His sale of the coin made great noise and large-scale buyers were able to win advance sales.
Some time after it appeared on the exchanges, the HBAR coin started to decline. The currency has fallen by 9% recently and the decline in price may be due to the pressure caused by closing the contract.
HBAR price has now reached $0.010 which means it has fallen deep from the initial trading levels recorded at $0.40.
Worse, in recent months, HBAR tokens were accessible from early buyers, and on December 31 more HBARs were unlocked for early buyers causing the value of the coin to plummet.
Read:A Ripple CEO explains the challenges facing the price of XRP
Hedera Hashgraph attempted to stem the decline in coin prices by offering offers for future prizes to investors who are waiting longer to get their tokens:
After the price of the cryptocurrency (HBAR) collapsed… the company is asking investors to wait longer to get their tokens
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