Hedera Hashgraph Shuts Down All Nodes, Dump Continues

Hedera Hashgraph, one of the well-known new enterprises for 2019 is in a bad spot once again. Nodes have shut down without any warning whatsoever, which suggests that the network could be centralized in a bigger manner then planed in the previous period, so let’s find out more in the blockchain latest news.

The community noticed that out of 10 council nodes, 4 shut down which is perceived as a trend of centralization. The closing of this many nodes makes Hedera Hashgraph, in reality, a centralized enterprise. This is so because in an open network the ledger cannot be secured with only six nodes, because that will be an open invitation for Sybill attacks.

Running of public nodes was allowed by Hedera Hasgraph but the base of the governance was the Council Nodes, which made the decisions on software updates and network resources. It is intended that the nodes would be run by a few of the largest platforms of Hedera Hashgraph like IBM, Boeing, and Deutsche Telekom.

One of the fastest sensations that gained an instant listing on Binance in 2019 was Hedera Hashgraph. The enterprise was marketed with a traditional business structure, and led by Mance Harmon the co-founder and CEO. The crypto sale comprised big public hype and also large-scale buyers in a series of pre-sales. After some time passed from its exchange debut, the HBAR coin started falling. The coin is down 9% more in the past day, which is caused by pressure by the news of the node shutdown. HBAR is now at $0.011, it is on the way to become a sub-penny token, after falling deep from the first trading levels at $0.40.

Even worse is that in the last months HBAR could have been accessible to early buyers who could throw coins. On December 31 another HBAR tranche was unlocked for first buyers which resulted in making retail token holders as unwilling bag holders. The Hedera Hashgraph enterprise has tried to halt the coin price fall by what is in nature sacrifice by its smallest investors, taking the hit by themselves. An offer was made for future prizes, if several of the ICO buyers instead of receiving active HBAR, kept their pre-launch tokens.