The Hedera network was created with the guiding principle that anyone should be able to use public ledgers to deploy trust at scale. As we build towards our decentralized future with distributed ledgers managing the world's most important data, it is paramount that portability and connectivity remain top of mind.
hashport is a new enterprise-grade public utility that enables the flow of digital assets between decentralized networks in a quick, secure, and cost-effective way; making it an ideal component to upholding the portability and connectivity of data between decentralized networks. With hashport, users can connect to the hashport web portal with their software wallets, supporting Hedera, Ethereum, and Polygon, lock their HBAR or hashport approved Hedera tokens, and create a representative version on the selected destination network.
Users then have the ability to explore DeFi, gaming, and NFT opportunities, and more with their projected tokens. Enterprises will be able to use hashport to simplify key business logic in order to accelerate the global adoption of decentralized networks and applications.
The hashport validator swarm is a decentralized group of diverse industry-leading companies that secure the transactions passing through the hashport portal. Hedera Consensus and Token Services are used to power hashport; Hedera Consensus Service is responsible for immutably logging user transactions in seconds and the Hedera Token service enables the creation of representative tokens from foreign networks onto Hedera. In many ways, the composition of the swarm is similar in format to the Hedera Governing Council. This includes a diverse group of industry-leading organizations to ensure the integrity of the hashport network. This strong governance model enables a strong foundational base with which to build out newly formed decentralized networks.
hashport will act as an important tool for new developers on Hedera; setting the stage for novel cross-network applications that will increase the adoption of the Hedera network in the process.
As adoption of distributed ledger technology grows, it is paramount that portability and connectivity remain top of mind in order to help facilitate the seamless user experiences of tomorrow. hashport can play an important role in ensuring this happens.
We are excited to see how hashport can extend the functionality of Hedera tokens and hbars, Hedera’s native cryptocurrency, beyond the network's existing boundaries. By enabling the ability to utilize HBAR and Hedera tokens throughout the broader DLT ecosystem, and for other tokens to flow into the Hedera network, hashport can play a key role in bringing connectivity to the Hedera network.