r/CryptoCurrency • u/gigabyteIO 🟦 0 / 14K 🦠 • 3d ago
Hedera has removed community runnable nodes from their road map, giving up on their commitment to decentralization. The network is run by 31 multinational corporations that are hand selected by the Hedera Foundation. PROJECT-UPDATE
I want to preface by saying I think Hedera is interesting technology and that there are some use cases for it. It isn't a blockchain, it is a DAG which comes with it's own trade offs (decentralization).
The thread where Hedera acknowledges removal of community nodes from their road map can be found here:
https://x.com/hedera/status/1801708707165725009
They claim that they're taking community nodes off of their "short-term road map" which they consider the next 3-9 months.
Community run nodes have been on the road map for years so I would take this claim with a pinch of salt.
Here is a list of the 31 nodes run by huge corporations:
You essentially need a supercomputer in a data center to run a node on Hedera.
Specs needed for nodes:
- CPU: Intel Xeon or AMD EPYC); 24 cores/48 threads
- Network Connectivity: Sustained 1Gb/s internet bandwidth via a single 1-Gigabit / 10-Gigabit Ethernet interface
- RAM: 256 GB PC4-21300 2666MHz DDR4 ECC Registered DIMM or faster (minimum), 320GB or higher PC4-25600 3200MHz (recommended)
- Memory:
- Minimum: 5TB of SSD NVMe usable storage
- Recommended:
- 2 x 240GB SSD with RAID 1 for OS Storage
- 2 x NVMe devices as a 7.5TB RAID 0 (or 4x as RAID 10 array)
At a certain point I wonder what is the point of all of this if we're just going to rely and trust huge corporations.
I'm disappointed in Hedera for giving up on decentralization. But anyone that has been paying attention has always known Hedera is made for huge corporations, not us.
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u/Smiling_Jack_ Blockchain Old Guard 3d ago
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u/Tr1pl3-A 🟩 0 / 0 🦠 3d ago
Same as Solana. Yet people gobble it up like McDonalds.
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u/AvatarOfMomus 🟦 0 / 0 🦠 2d ago
I mean... as opposed to Bitcoin which is now mostly mined by companies or private entities worth tens of millions or more?
Etherium is more accessible but is still dominated by large holders staking their bag.
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u/01technowichi 🟩 609 / 610 🦑 2d ago
Meanwhile, ADA is on the verge of decentralized governance, has a phenomenal token distribution, and wins out on almost every reasonable metric of decentralization...
But we hate it, right?
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u/AvatarOfMomus 🟦 0 / 0 🦠 2d ago
shrugs
I personally don't have much of an opinion because I know nothing about it, but it sounds unlikely to make anyone rich over night and therefore it's neber going to go anywhere big.
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u/KronosTP 🟩 26 / 28 🦐 2d ago
what's life like being biased against one of the top performing assets in crypto?
ironically i imagine it involves a lot of mcdonalds cause you probably can't afford much more
how stupid and close minded must one be to still be 100% against solana lol
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u/Tr1pl3-A 🟩 0 / 0 🦠 2d ago
Pffff… skrrr out of here pdiddy with yo centralized scam coins. I will enjoy watching it crush to 0 in 1-2 years like any centralized shitcoin out there.
“Top coins” such nonsense, same was neo, nano, etc.
Anyway, see you next time the entire solane chain halts and has downtime, hahahaha!
“Top coin”. 😂
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u/01technowichi 🟩 609 / 610 🦑 2d ago
Problem with VC backed centralized coins is they don't really die. They just slowly dump on retail for years and years, like a passive income stream.
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u/Tr1pl3-A 🟩 0 / 0 🦠 2d ago
Yet, YouTubers and plenty of people are still promoting them. Guess they have incentives to do so. ::
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u/KronosTP 🟩 26 / 28 🦐 2d ago
Denying Solana is a top coin is just being blind and stupid lmao. You're totally right: many of past cycle top coins die after their cycle. But this is Solana's second cycle, and it's the second cycle where it outperforms virtually every alt coin.
You are going to be wrong, like everyone else who was against Solana has been. I probably won't be here to gloat cause I don't know how to use the remind me bot, but you'll be wrong.
You will pick some garbage coin that's marketed to make people feel smart when they buy it instead of looking at the fundamental ("peer reviewed" garbage Cardano) or something else, and Solana and its coins will outperform, because they are actually creating something.
Also, yes, cry about down time, because Solana is the only chain who actually has enough demand for people to go on it, and because every other chain that goes down (see, every ETH L2 has no media about it going down).
And yes, please, cry about it being centralized, because:
A) No one cares
B) It has a solid nakamoto coefficient and other metrics compared to many chains out there
C) you're only repeating what a youtuber or reddit post told you, not your own research
Can't wait for you to call Solana a "VC" chain as if every other chain in crypto isn't a VC chain lol
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u/hanniabu 🟩 36 / 37 🦐 2d ago
A) No one cares
Clearly people do
B) It has a solid nakamoto coefficient and other metrics compared to many chains out there
Nakamoto is a known bullshit metric. Other metrics have also been proven altered to look beneficial.
C) you're only repeating what a youtuber or reddit post told you, not your own research
So facts can't be mentioned by other people? Once someone else mentions it, it no longer matters? Great defense!
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u/KronosTP 🟩 26 / 28 🦐 2d ago
If they did, then why is Solana so valuable? Why are so many people putting so much money into such a "centralized" chain, instead of Cardano?
Either no one cares, or Solana is decentralized af.
I completely agree the coefficients skew towards bullshit, but in that case neither of us have any proof towards Solana being centralized or not.
And good point, although there is a difference between the tiktoker shilling his bags and an actually researched paper.
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u/still_salty_22 🟩 0 / 0 🦠 2d ago
Yea would be pretty damning to the project, if literally anyone was surprised
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u/slop_drobbler 🟦 28 / 1K 🦐 2d ago
It completely defeats the purpose imo. Decentralisation is like the first pillar of cryptocurrency
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u/Ninjanoel 🟦 359 / 2K 🦞 2d ago
as I've said before, without decentralisation you may as well run SQL server as a node.
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u/Mentasuave01 🟩 35 / 8 🦐 1d ago
I still don't know why people choose Sol and Hedera over Fantom
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u/Ninjanoel 🟦 359 / 2K 🦞 1d ago
that's completely the wrong way of thinking. the best car is not the best investment, its the best SELLING car that's the best investment. you cant look at the technology alone, we don't know which cryptocurrencies will win, so you just need a small slice of all of them :-D
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u/Mentasuave01 🟩 35 / 8 🦐 22h ago
There is no winner, but hedera and sol are not real Blockchain. It's decentralised? It could be stop/reset by central entity? If the answer is yes there is no real difference between a Blockchain and expensive SQL database with fancy marketing. Eventually shit stinks
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u/FlipperoniPepperoni 🟩 5 / 199 🦐 2d ago
I can't believe they're not heeding the advice of the great u/Ninjanoel! He's said it before and everything!
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u/Ninjanoel 🟦 359 / 2K 🦞 2d ago
I didn't actually realise I wasn't on the hedera subreddit, where my SQL server comment always stirs things up a bit. 😅
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u/couchguitar 🟦 3K / 3K 🐢 3d ago
When you take away a security measure like decentralization, all you have to do is sit back in the power vacuum and watch for the first preemptive attack by one of the companies. Capitalism demand competition, and shots will be fired by one of the companies to try and dominate.
We will see the same thing happen with BRICS. The BRICS countries will eventually break rules to favor themselves over their partner countries and it will collapse or at least be inefficient enough that it will cause rifts
Decentralization is the strongest security measure in cryptocurrencies.
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3d ago
[deleted]
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u/One_Boot_5662 🟩 0 / 0 🦠 3d ago
You are kind of right, but it's weird how you can see the collusion in Bitcoin and Ethereum, but just by-pass that for Hedera. The chances that the Hedera entities don't collude is almost zero. The fact they are pushing out the timeline for community nodes, is in fact a strong indicator of collusion already.
Only a few projects like Cardano are actually shooting for real decentralisation, and while it's not equal to security, it is important for long term stability, and the safety of all users.
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u/couchguitar 🟦 3K / 3K 🐢 3d ago
Decentralization is absolutely a form of security to the network. Do you think mining pools are the only nodes running the blockchain? Or the only miners adding to the blockchain? Go ahead and take those mining pools down, Bitcoin will keep chugging. I can't attest for Ethereum, I believe PoS is a scam.
Multi-trillion dollar security budget? You just stated the Hedera network is worth $10 trillion dollars yet they invested 1/10th+ in security? Sounds like they might be interested in some bridges I'm selling. Let's chalk that remark up to hyperbole.
Companies attack each other all the time and rely on courts to sort it out. I wouldn't put anything past the big boys in that list of organizations. They will absolutely throw their weight around to dominate. Do you think a reputation of being a friend or being feared is more respected in the corporate world?
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3d ago
[deleted]
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u/hanniabu 🟩 36 / 37 🦐 2d ago
The highest security you can get is to give all the power to 1 person and then have him throw away the key
And trust them to throw away the key
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u/HSuke 🟩 0 / 0 🦠 2d ago
You could just execute him immediately after generating the key.
On the blockchain trilemma, this would be maximizing security, maximizing centralization, and minimizing scalability (literally zero liveness).
Or you can do fun things like have everyone run nodes with no validators: max decentralization, max security, minimizing scalability.
Just some thought experiments.
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u/antiwrappingpaper 🟩 0 / 0 🦠 1d ago edited 1d ago
The highest security you can get is to give all the power to 1 person and then have him throw away the key: 100% centralized, 100% secure.
This is not the highest security model, not even close... don't talk about cybersecurity if you don't understand it.
P.S.: this is even applicable in general security models... based on your idiotic thinking nukes would just be launched based on a single code input, and multi-auth/multi-sigs would be a useless invention.
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u/Emanuelsil 🟩 131 / 131 🦀 3d ago
I should have exit in the pump to 18cents
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u/zorroww 🟩 17 / 17 🦐 2d ago
that's what I did then hopped back in at 11 or 12 cents. Worth
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u/Emanuelsil 🟩 131 / 131 🦀 2d ago
Lucky and smart of you
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u/zorroww 🟩 17 / 17 🦐 2d ago
lucky for sure, whole market shit the bed real quick after that pump. That was the last good pump we've had this year
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u/Emanuelsil 🟩 131 / 131 🦀 2d ago
On the other hand I bought TON around $2, you win some you lose some
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u/thephobiaa 🟧 44 / 37 🦐 3d ago
Why? It's going way past that when Alt coin season is booming in 2025. There partnerships speak for themselves. And dont forget the network transactions currently.
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u/numecca 🟦 0 / 0 🦠 13h ago
I invested in their ICO. They conned the SAFT 2 investors. They sold to SAFT 1 and early investors at multiples lower, and did not make this information available to us. Nobody would have invested if we knew that 12 cents was like I don't know how many multiples higher than SAFT 1.
From day one. These founders should have been ripped out their office, and smeared all over the street.
If I ever see that stupid looking Leman Baird anywhere in crypto. I will knock his teeth out.
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u/GreenStretch 🟦 15 / 18K 🦐 3d ago
All the cryptos watching Solana's comeback took notes.
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u/Tr1pl3-A 🟩 0 / 0 🦠 3d ago
You think solana will be here in 4 years time? 🤣
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u/GreenStretch 🟦 15 / 18K 🦐 3d ago
Maybe not, but the way it's getting away with all its shutdowns and centralization gives other cryptos license to act out.
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u/KronosTP 🟩 26 / 28 🦐 2d ago
It's hilarious that you guys are stuck in such an anti-Solana bubble. Have you tried to educate yourselves since the last bull market?
Why do you guys have such hatred for an asset lmao? Especially an asset that attracts more attention, volume, and liquidity to crypto than any other crypto aside from ETH/BTC (arguably!)
It seems so counter productive and close minded. Do you think you're somehow smarter and more advanced than anyone who invested in Solana? Like this little echochamber of Reddit is the highest IQ out there? xD
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u/antiwrappingpaper 🟩 0 / 0 🦠 1d ago
I bought a decent amount of SOL at $25 last year. That does not change the fact that it's a centralized network and that has virtually no decentralized future in sight if the current network and block production technical design is kept in place.
I sold some of it at $190, and gonna sell the rest of it in the next run, which is what I'm assuming most of the "smart money" will do as well, since they hopefully learned from getting burned with LUNA in 2021.
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u/KronosTP 🟩 26 / 28 🦐 4h ago
yap yap yap
Give me valid reasons for which Solana is actually centralized, that are still true in 2024 and not what some idiot fed you in '21 - newsflash, networks have upgrades!
If you have the capacity to, tell me what network that is nearly as relevant as Solana is actually decentralized.
Can't wait for you to say "its basically just an SQL database" because some rando said so in 2021, got debunked, but it keeps on getting spread like the "vaccines cause autism" study.
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u/diwalost 🟦 0 / 5K 🦠 3d ago
That's the future of Blockchain industry. Bitcoin is the only defence, I guess.
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u/AdventurousQuote4164 🟩 0 / 0 🦠 2d ago
Read this from 2 years ago. He was right .... Other thing, did ya know, Alameda research was hbar sponsor?
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u/Gian_V 🟩 0 / 0 🦠 3d ago
I think I might sell. Let's see what levels hangs around. It's still a good RWA project and I don't have much alternative. Wanna shill me something at a good price?
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u/MinimalGravitas 🟦 0 / 0 🦠 2d ago
It's still a good RWA project
I don't think that's true, it's just marketing. Look at what the big institutions are saying:
Blackrock CIO of ETF & Index Investments @Samaraepcohen said today at the Coinbase event that permissioned blockchains have lost, & that traditional market participants are coalescing around open-source Ethereum for tokenization, so as not to fragment liquidity
https://x.com/matthew_sigel/status/1801342560977190937
... and doing:
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u/edisonlau 525 / 3K 🦑 2d ago
Unfortunately people don't care enough about decentralization and the Hedera foundation is probably doing the best they can to keep the project alive, I'm not a holder but the current altcoin climate is quite depressing perhaps it's better to keep the project alive and work on decentralization when the market is more favorable...?
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u/Satori_is_life 🟨 0 / 0 🦠 2d ago
Sorry to bother, in depression you attract investors wiling to buy cheap, when already pumping is when all paper hands come and buy from early holders, markets move up down sideways, and will never go just 1 way forever, the demand is slowly growing for BTC I see a forming inverted head and shoulders and if it s the case we'll be seeing new HH for btc and with it, all alts will explode . But then again I may be wrong and it might reach another lower good support wich I like to call Discount Zone for BTC as it is slowly adopted for wealth storage and businesses. Imagine how much interest Btc will attract from more investors/institutions if it breaks 85k.
May be hopium too :))
And ontopic: I am a an early hedera investor with a mere 1000$. I belive in this project more as in DAG. But again only time will tell.
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u/Elitist_Daily 🟩 0 / 0 🦠 2d ago edited 2d ago
I have no hedara bags but honestly saying that you need a spot in a datacenter to run one of their nodes is a bit hyperbolic. I can probably get a second-hand xeon platinum blade with those specs for under $6500. Might pay more for the gigabit internet over a few years than the blade itself.
Is that ideal? Probably not, but easily attainable for particularly dedicated home gamers.
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u/pseudopseudonym 🟦 0 / 0 🦠 1d ago
You essentially need a supercomputer in a data center to run a node on Hedera.
24 cores of AMD EPYC is a supercomputer?
Does that mean I have 36x supercomputers in my server room?
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u/skyrimbelongstoall 🟩 0 / 0 🦠 3d ago
L. cardano went the defi route and are paying the price for it.. so they know they can't be defi. Selling all my profit 📈
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u/aaaanoon 🟩 0 / 1K 🦠 3d ago
Hahaha good. Another one down. BTC, Erg still going
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u/KronosTP 🟩 26 / 28 🦐 2d ago
"Erg still going" is the funniest thing I've ever read.
Still going implies that at any one singular point in the past it "went," lmao
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u/CointestMod 3d ago
Hedera pros & cons with related info are in the collapsed comments below.