Manage accounts, enable fast payments.
Topics make it simple to organize transactions, so each application only receives the messages it needs.
Messages are put into consensus order and given a timestamp by the Hedera network, with cryptographic proofs, so they are as trustworthy as the full Hedera network.
Messages are cryptographically tied together with a running hash to provide an auditable, tamper-proof log of history.
Message processing and storage are kept outside the Hedera network. This allows higher speed and scalability.
The high speed and good scaling ensure low, micropayment fees on par with Hedera Cryptocurrency.
The Hedera Consensus Service ensures speed and security are kept on the ledger while storage is kept off-ledger. Choose to keep everything, nothing, or anything in between.
Bryan Gross, Principal Product Manager
IBM Blockchain Platform
Even if an application runs on a network that is not well trusted, that trust can be amplified by relying on the trusted Hedera ledger for the consensus ordering and timestamps. Track an item through a supply chain, provide a transparent bidding system, or process transactions, with auditable logs of the history.
A topic is created to manage the stream of messages for one application, such as a market where people bid on products.
When an event happens – like a bid – it can be sent as an encrypted message to the topic.
All of the messages are put into consensus order by the Hedera mainnet. A mirrornet can then send the messages for a particular topic to the application for processing.
When an audit needs to be conducted, previous messages can be checked, along with a state proof that ensures they have not been falsified.