Smart contracts, done smarter
DappRadar is excited to announce the integration of the Hedera Network and its ecosystem of dapps. DappRadar’s 1 million monthly site visitors can now analyze which dapps attract the most trading volume, unique user wallets, or process the most transactions through the Hedera dapp rankings. This way, everybody can understand which dapps and tokens build solid communities and value on Hedera.
Hedera is not a typical network and it’s not technically a blockchain. It’s easiest to imagine it as a moving graph, whereby the speed of transactions goes up as more transactions are added to the network. This technology helps the Hedera network to achieve more than 100,000 transactions per second, making it a true competitor to Visa and other mass-market payment systems. The Hedera Network currently performs 6.5 million transactions per day with an average transaction time of 5 seconds.
Hedera DappRadar Rankings
At launch, DappRadar will track 4 dapps on Hedera Network across several categories, including DeFi and Marketplaces, with more dapps to come in the future as the ecosystem expands. Stader is the current leader in DeFi and offers a non-custodial smart contract-based staking platform that helps users discover and access staking solutions. AdsDax is a self-serve advertising platform that enables advertisers to create, deliver, verify and optimize rich-media mobile advertising campaigns. We encourage the community to check out the Hedera dapp rankings on DappRadar.
Hedera under the hood
The Hedera Network comprises four main components or services that allow transfers of value, the creation and execution of smart contracts, file transfers, and more.
- HBAR: A cryptocurrency used for enabling low fee, highly customizable transactions on Hedera.
- Smart contracts: Used for automatically executing logic and building decentralized applications (dapps)
- File Service: For redundant, distributed file storage with granular controls, like append and deletion.
- Consensus Service: For attaining fast, fair, and secure consensus in any application that requires trust.
Unlike Ethereum and Bitcoin, which require miners to reach consensus, nodes on the Hedera Network talk to one another and compare the network’s transaction history. As the nodes talk, they select a few key witnesses. Each witness is an event or a transaction, and they become key because they are communicated to the nodes early in the process. The chosen nodes then compare the chat about these prominent witnesses to reach a consensus. The aim is to reach a point where two nodes could confidently predict the decision—or outcome– by a third node because they come to the same conclusion at multiple stages.
Hedera For Developers
DappRadar invites dapp developers to submit their dapps to DappRadar, creating more visibility on The World’s Dapp Store. Developers interested in learning more about Hedera, its tech stack, funding, and how to get started can use their website and Github resources.