Launch of Permissioned Distributed Ledger Technology (DLT), named HashSphere, by Hashgraph

HashSphere, the latest offering from Hashgraph, a company previously known as Swirlds Labs, is set to revolutionise the enterprise world with its permissioned distributed ledger technology (DLT). This new technology is designed to offer enhanced control, privacy, compliance, and interoperability compared to existing platforms like Hyperledger Besu, Canton, and Corda.

Compliance and Control

HashSphere inherits Hedera’s enterprise focus, emphasising regulatory compliance and governance. Being permissioned allows HashSphere to implement strict access controls and participant vetting, similar to platforms like Corda and Canton. This design should provide more straightforward compliance mechanisms across jurisdictions.

Privacy

Like Canton and Corda, HashSphere is anticipated to enable privacy-preserving functionalities. While Hyperledger Besu supports privacy through private transaction approaches, HashSphere could combine Hedera’s fast finality with enhanced privacy controls native to permissioned ledgers. This combination aims to cater to use cases requiring both speed and confidentiality.

Interoperability

HashSphere is positioned as a next-generation enterprise ledger extending Hedera’s public network capabilities toward permissioned environments. This would give it an advantage over Hyperledger Besu, which is more isolated to Ethereum-compatible private chains. HashSphere likely aims for integration-ready designs supporting real-world enterprise ecosystems, including interoperability between permissioned and public networks and possibly other DLTs.

In summary, HashSphere appears to combine Hedera’s high-performance consensus and governance with strong enterprise controls, privacy-focused design, and an interoperability roadmap that could match or exceed those of Hyperledger Besu, Canton, and Corda. However, detailed technical comparisons are limited since HashSphere is newly announced and evolving. The existing platforms, especially Canton and Corda, have proven enterprise credentials in compliance, privacy, and interoperability, while HashSphere is expected to build on Hedera’s unique strengths to compete in the same space.

[1] Rob Allen from Australia Payment Plus has expressed interest in HashSphere for its enhanced privacy and regulatory compliance, network interoperability for seamless and transparent interchange of stablecoins. [5] Brazil's central bank is waiting for a solution for privacy and regulatory compliance before moving forward with Besu. HashSphere could potentially compete with Hyperledger Besu due to its EVM (Ethereum) compatible smart contracts and potential speed and scalability performance advantage over Besu. [5] Institutions find it burdensome to repeat KYC and compliance steps on permissionless chains, and seek greater privacy and control. Hedera, with its partially permissioned structure, offers a potential solution to this problem. [5] Hashgraph was previously known as Swirlds Labs and partnered with credit union startup CULedger in 2018 for a permissioned ledger. This partnership could provide valuable insights and connections for HashSphere's development and adoption. [5] Eftpos, an Australian payment infrastructure, merged with other Australian payment infrastructures which are part of Australia Payment Plus. As a beta tester for HashSphere, Australia Payment Plus could play a key role in testing and refining the new technology. [5] Filipino banks plan to launch the PHPX stablecoin on Hedera this year. If successful, this could be a significant boost for HashSphere's reputation and adoption in the financial sector. [5] Google Cloud has also launched a new permissioned distributed ledger, Universal Ledger. The entrance of a major player like Google Cloud into the permissioned DLT market could increase competition and drive innovation in the space. [5] Stablecoins are now on the cusp of going mainstream. HashSphere's focus on stablecoin interoperability and its potential advantages over Hyperledger Besu could make it an attractive option for institutions looking to adopt stablecoins. [5] Hedera has developed solutions to make onboarding with stablecoins simple. This could further increase its appeal to institutions looking to adopt stablecoins on its platform. [5] Hashgraph, the company behind Hedera Hashgraph distributed ledger, is launching a permissioned DLT, HashSphere, in Q3. This launch could mark a significant shift in Hashgraph's focus, returning to its roots with a focus on a permissioned distributed ledger.