Welcome to the Hedera Overview, providing a suite of updates for Hedera enthusiasts, users, developers and curious-minded web3 users about all that’s happening in the ecosystem.
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The ecosystem insights
HBAR token price: $0.17 (+1.83%)
Market cap: $7.11B (+2.32%)
Total value locked (TVL): $90.47M (-18.49%)
Total staked: 15.76B (-2.11%)
Transactions per second (TPS): 8.84 tx/s (+30.58%)
The percentages and metrics are calculated from its change over a 14-day time frame, unless noted otherwise.
Hedera Highlights
Diving deeper into some of the biggest updates from Hedera.
#️⃣ What’s happening: Sharjah-based conglomerate BEEAH Group partnered with The Hashgraph Group to release IDTrust, a decentralized digital identity verification system built on Hedera’s distributed ledger technology (DLT).
#️⃣ Why it matters: IDTrust leverages Hedera’s technology to provide an identity verification platform that will be rolled out across BEEAH’s operations in environmental and waste management, renewable energy, green mobility, transport, education, technology, healthcare, and real estate.
Hedera’s DLT ensures IDTrust credentials are portable, verifiable, and interoperable across platforms, avoiding vendor lock-in. This enables secure authentication for uses like KYC checks, sharing medical records securely, and smart real estate dashboards.
IDTrust will be rolled out in phases, with BEEAH’s internal employees and partner identity management teams getting first access. From there, the conglomerate plans to use the platform for identity verification across all its entities and projects, including smart real estate communities, healthcare facilities, and environmental services platforms.
#️⃣ The bigger picture: This partnership amplifies Hedera’s relevance in the Middle East and North Africa (MENA) region for enterprise use cases. And the successful implementation of IDTrust will only serve to showcase Hedera’s ability to serve as the foundation for private, secure solutions across sectors.
“Our IDTrust solution offers enterprises and government institutions with a privacy-first self-sovereign identity framework to empower individuals and organizations alike,” Stefan Deiss, co-founder and CEO of The Hashgraph Group, said in a statement.
BEEAH aims to eventually take IDTrust to the UAE government, which will promote Hedera’s infrastructure as a known and trusted entity in decentralized identity management.
Unpacking the hash
Hedera recorded an all-time high of 55.74 tx/s on Oct. 20
Hedera USDC has been launched on Bitkub’s exchange in Thailand
Hedera has added support for batch transactions, enabling developers to execute multiple operations as a single unit
Hedera’s chief policy officer, Nilmini Rubin, has joined the Blockchain Foundation’s board of directors
Read how Hedera integrates with WalletConnect to let dApps abstract away wallet connectivity logic
Ecosystem players
Highlighting the companies, communities and users tied to Hedera ecosystem
Watch Hedera Council member and global COE leader of digital strategy and blockChain at Mondelēz International Xiang Xu talk about the company’s projects on Hedera
Libre Capital’s TVL hit an all-time high of $9.9M for its RWA infrastructure platform
Hashgraph Online launched the Registry Broker, designed to streamline connections between agents, Model Context Protocol systems, and data brokers
SaucerSwap launched its Hedera-based DEX to iOS, alongside a bug bounty campaign with up to $75K in rewards
Get involved with the community
Find the latest job postings at Hedera ecosystem projects
Register for the Hedera Africa Hackathon to compete for a $1M prize pool
Participate in Hedera’s $10K hackathon as part of ETHGlobal Online until Oct. 31
Catch the Hedera team at the Singapore FinTech Festival, from Nov. 12-14
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This product was built by Token Relations.
This information is for entertainment purposes only. It should not be considered financial advice, nor should it be used to make investment decisions. Cryptocurrencies are high risk and you should consult a financial professional before making any financial decisions. Make sure you do your own research.