- Hedera’s Q1 2023: TVL surges 52%, reaching a record high.
- Pangolin DEX launch creates immediate market buzz.
- Dell Technologies joins Hedera’s Governing Council.
Hedera, a leading provider of decentralized solutions, has just released its Q1 2023 report, and the numbers are mind-boggling, according to Messari, a provider of crypto market intelligence products. First, Hedera’s Total Value Locked (TVL) skyrocketed by a staggering 52% quarter over quarter, reaching an all-time high. This surge underscores the platform’s increasing popularity and trust within the crypto community.
But that’s not all. Hedera recently launched the Pangolin DEX, a decentralized exchange, and it didn’t take long for it to make waves in the market. Immediate success was on the menu, leaving traders buzzing with excitement.
Hedera`s success can be attributed to tech giant Dell Technologies recently joining the Hedera Governing Council as its 28th member. This illustrious council is a dedicated group of organizations that support Hedera’s growth and development.
Despite its rapid growth, Hedera faced a major hurdle in a security breach in Q1, 2023. A bug in the Smart Contract Service code was exploited, leading to concerns. However, Hedera quickly acted, successfully patching the vulnerability and restoring full functionality. This incident highlights the platform’s commitment to maintaining a secure and trustworthy ecosystem.
Moreover, Hedera proudly announced surpassing 6 billion total transactions, a remarkable feat that demonstrates its increasing adoption and usage. It’s worth noting that this milestone solely reflects end-user transactions, excluding the internal transactions generated by Hedera’s consensus algorithm.
Hedera’s Q1 2023 report is a testament to its remarkable growth, strategic partnerships, and commitment to security. As the blockchain industry continues to mature, Hedera is undoubtedly establishing itself as a force to be reckoned with.