Hashgraph Online DAO: Genesis of A Fully On-Chain Internet
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PR.comHashgraph Online DAO: Genesis of A Fully On-Chain Internet
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PR.comHashgraph Online DAO: Genesis of a Fully On-Chain Internet
Hashgraph Online DAO LLC launches to create a fully on-chain internet using Hedera Consensus
Service (HCS). Uniting leaders in the Hedera ecosystem, the DAO focuses on establishing
standards, open-source development, and building decentralized products for seamless web
experiences. With foundational standards like HCS-1 and HCS-20 enabling millions of transactions,
Hashgraph Online seeks to drive innovation in interoperability, advancing a transparent,
decentralized internet accessible to all.
Majuro, Marshall Islands November 07, 2024 --(PR.com)-- Hashgraph Online DAO LLC today
announces its official launch, a significant milestone in building a fully on-chain internet utilizing the
Hedera Consensus Service (HCS) to seamlessly interconnect data across multiple blockchains. This new
DAO unites leading organizations and trailblazers in the Hedera ecosystem, each committed to the shared
mission of developing a decentralized, open-source internet.
Michael Kantor, President of Hashgraph Online, stated, “The formation of Hashgraph Online represents
more than just an organizational milestone; it marks the initial step toward building a digital infrastructure
that is fully on-chain, open, and accessible to everyone.”
Mission Statement
Hashgraph Online DAO’s mission is to create a decentralized internet, anchored by Hedera’s Consensus
Service and guided by principles of openness and transparency. This vision will be achieved by focusing
on three strategic pillars:
Establishing Standards: Hashgraph Online has developed foundational standards, such as HCS-1 and
HCS-20, which have already facilitated millions of transactions. The DAO will continue creating new
standards to address the evolving challenges of decentralized technology.
Open Source Development: Hashgraph Online’s open-source tools and applications are crafted to enable
the growth of this new internet infrastructure, ensuring transparent and resilient participation for all
stakeholders.
Products and Services for the Open Internet: The DAO is dedicated to building products and services that
support seamless user experience and accessibility within the decentralized internet, aiming to deliver
long-term value and sustainability for the DAO.
Brandon Davenport, Director of Communications at Hgraph, noted, “The DAO’s commitment to
open-source development not only democratizes access but also cultivates a spirit of innovation crucial to
redefining the possibilities of an on-chain internet. Hgraph is honored to support Hashgraph Online with
our infrastructure.”
Governance Structure and Founding Members
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The governance of Hashgraph Online DAO comprises active organizations within the Hedera ecosystem,
with founding members who bring diverse expertise and are essential to this initiative.
Founding Members Include:
- Bonzo Finance: A non-custodial lending protocol enabling the lending and borrowing of digital assets.
Builder Labs: A software engineering firm specializing in building on Hedera.
- HashGate: A secure non-custodial payment gateway focused on speed and simplicity.
- HashPack: A leading Hedera wallet facilitating secure access to DeFi, NFTs, and Web3 gaming.
- Hgraph: An engineering firm and mirror node provider supporting enterprises and developers.
- KiloScribe: A solution for on-graph file storage and retrieval, aiding developers and creators.
- LaunchBadge: A technology-focused engineering company.
SentX: A premier NFT marketplace on Hedera.
- Turtlemoon: Innovators in Web3 platforms and applications on Hedera.
To learn more about our members, please visit hashgraphonline.com.
Patches, CEO of Turtlemoon, shared, “Together, we are building the foundation for a new type of
on-chain internet—one that prioritizes security, equity, and decentralization.”
Origins of Hashgraph Online
Hashgraph Online’s roots trace back to January 4, 2024, with the creation of HCS-20, the Auditable
Points Standard on Hedera. Spearheaded by Turtlemoon, HCS-20 established a novel approach for
minting, transferring, and burning points linked to individual accounts. This innovation drove over 18
million transactions on the mainnet. Subsequently, partners KiloScribe, Turtlemoon, SentX, and
HashPack developed HCS-1 and HCS-5 on March 5, 2024, further enabling secure on-chain storage and
tokenized digital assets, known as “Hashinals,” which generated over 141,000 NFTs and an additional 7.6
million transactions. This progress laid the groundwork for the creation of Hashgraph Online.
Hedera Consensus Service as the Foundation
The Hedera Consensus Service (HCS) is central to Hashgraph Online’s mission, delivering the speed,
security, and transparency essential for the millions of transactions the DAO’s standards enable. HCS will
remain the backbone as Hashgraph Online works towards a cross-chain internet.
Future Initiatives for Hashgraph Online
The official establishment of Hashgraph Online DAO marks only the beginning. Moving forward,
Hashgraph Online DAO aims to:
- Develop and expand standards, maintaining open-source tooling to address new needs.
- Enhance cross-chain data referencing standards to enable fully functioning HashSites and create
pioneering products such as a Bitcoin Browser.
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- Progress toward the launch of the Hashgraph Online Token.
May Chan, CEO of HashPack, commented, “Hashgraph Online is rooted in open collaboration across the
ecosystem, driving advancements in Hashgraph and Web3 technology.”
Join the Movement
Organizations, developers, and enthusiasts are invited to join in building a fully on-chain internet. For
those interested in contributing or learning more, please visit hashgraphonline.com.
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Contact Information:
Hashgraph Online DAO LLC
Michael Kantor
‪(201) 430-5562‬
Contact via Email
hashgraphonline.com
Online Version of Press Release:
https://www.pr.com/press-release/924511
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