hashgraph

Some Additional Details About Hedera Hashgraph

We’ve received a great deal of feedback since we announced that Sagewise would work with Hedera Hashgraph. In response, we want to go into a little more detail here about the specifics of the collaboration and what it does and does not mean for Sagewise’s own roadmap. First of all, we want to reiterate how excited we are to be working with the Hedera Hashgraph team. They’re building an exciting platform and we look forward to being part of their exciting growth in the future.

We also want to address some questions and concerns that have been raised by the community. Most importantly, we want to emphasize that working with Hedera Hashgraph does not mean we are leaving Ethereum. We recognize both the technological advantages and the broad reach of the Ethereum blockchain – it’s one of the reasons we decided to build our platform on it in the first place. On the contrary, Hedera Hashgraph, for a number of reasons that we will outline, is completely compatible with our work on Ethereum. At the same time, it offers additional benefits that we believe will materially advance our efforts to build the industry’s leading smart contract dispute resolution system.

The first benefit, as already touched on, is compatibility. The Sagewise platform can easily be ported to Hedera Hashgraph because it will support Solidity smart contracts with no changes required. This compatibility makes working with Hedera Hashgraph a true win-win, since we are able to leverage the specific benefits it offers without needing to sacrifice the obvious advantages and scale of Ethereum. Our developers are able to use the same Solidity code they use to build on that blockchain to build functionality utilizing Hashgraph. In short, we get the best of both worlds.

Hedera Hashgraph also offers tangible benefits to Sagewise that we expect will make a real difference in the quality, speed, and affordability of our service. Importantly, it promises to be faster and cheaper than Ethereum. This is something we cannot ignore at this stage of our growth; at current gas prices, we would not be able to scale as quickly or as comprehensively as we want by building on Ethereum alone. And the Hedera Hashgraph APIs will have unique, innovative features that present significant benefits to Sagewise. Among these is a best-of-its kind file system with cutting-edge features like provable deletion. We intend to use this to augment Sagewise’s system on Hedera Hashgraph’s stack.

The final thing to remember is that Sagewise has always had a goal of being platform-agnostic. Since we’re a middleware layer providing infrastructure for smart contract suppliers, we need to make sure we’re wherever our customers are. Using Hedera Hashgraph moves us toward that goal. It has emerged as a major player with enterprises, which is where we see much of our growth in the future. Hedera Hashgraph’s compatibility with Ethereum, its suite of exciting, cutting edge features, and its presence among our potential partners make the platform a clear win. We’re excited to build together.

Sagewise To Build Its Smart Contract Resolution Ecosystem on Hedera Hashgraph Platform

LOS ANGELES – June 6, 2018 – Providing peace of mind to all parties to a smart contract, technology company Sagewise will utilize the Hedera Hashgraph platform to build its ecosystem on top of. A blazing fast blockchain-alternative, Hedera Hashgraph will serve as the basis of Sagewise’s testnet, as the company realizes its mission to deliver transactional confidence and create a new legal paradigm.

Co-founded by Amy Wan Esq., an award-winning leader in legal tech, and Dan Rice, a veteran software engineering luminary and blockchain expert, Sagewise offers a proprietary SDK to mitigate variables such as the quality of smart contract coding and evolving situations. Sagewise does this by building in a layer of smart contract monitoring, notification, freezing, and dispute resolution to ensure that execution of a smart contract reflects the user’s intent. The hashgraph algorithm — a consensus mechanism based on a virtual voting algorithm combined with the gossip protocol — will help Sagewise achieve its goal by providing a framework for quick, fair, efficient and secure consensus.

“We believe justice should be decentralized, so our objective is to provide smart contract users a toolkit to settle errors and disputes, lest they end up with unintended outcomes. Smart contract losses exceeded half a billion U.S. dollars in value in 2017, so we feel it is integral to address the void in the industry,” said Amy Wan, Co-founder and CEO of Sagewise. “In order to reach our objectives, we knew scaling was of utmost importance, which is why we decided to work with Hedera Hashgraph. Its technology does not have the technical limitations of the existing blockchain, and provides distributed consensus.”

“From supply chain to financial services, smart contracts can be used in almost every industry; however, despite widespread adoption, the possibility for dispute is ever-present,” said Jordan Fried, Global Vice President of Business Development for Hedera Hashgraph. “Sagewise’s mission to help smart contract users quickly resolve disputes and reach consensus is greatly needed in the market, and we are pleased the team is choosing to build on top of hashgraph.”

For more information, please visit www.sagewise.io or view the Hedera whitepaper.

About Sagewise

Founded in 2017, Sagewise is a technology company focused on the efficient resolution of disputes involving smart contracts. Sagewise has developed a product comprising a smart contract safety net for blockchain users. The company’s proprietary SDK, released in April 2018, provides the tools and infrastructure needed for the effective handling of disputes at any stage in the development and execution of smart contracts, freezing contracts in place while they are being resolved. Sagewise’s mission is to provide peace of mind to all parties to a smart contract, ensuring that the outcome of a blockchain endeavor is consistent with the parties’ true intent.

To learn more about Sagewise, please visit sagewise.io or follow the company on Facebook, LinkedIn, and Twitter.