Hedera Introduces HashSphere: A New Private Blockchain for Enterprises

This newly introduced permissioned network, currently in beta, is tailored to meet the needs of businesses requiring data privacy and strict regulatory compliance.

Unlike public blockchain solutions, HashSphere is designed with a fully managed environment to give enterprises a secure and compliant space for developing decentralized applications (dApps) while ensuring access is restricted to verified users. This move comes as a response to concerns businesses face with using public blockchains, which can sometimes complicate regulatory processes like Know Your Customer (KYC) and Anti-Money Laundering (AML) rules.

Running on Hederas scalable, EVM-compatible technology, HashSphere provides developers with the tools to build applications that interact seamlessly with other blockchain networks, offering the flexibility needed for modern enterprise solutions. With the added benefit of Hederas proven high transaction speed, robust security, and sustainable network, businesses can now operate more efficiently while ensuring compliance with industry regulations.

As part of its services, HashSphere will be integrated with Hederas existing infrastructure, including their Token Service, Consensus Service, and Smart Contract Service, enabling businesses to issue and manage digital assets securely while ensuring transactional transparency with trusted timestamps.

Hedera is particularly targeting sectors like asset management, banking, and payments providers, encouraging them to leverage HashSphere for blockchain-based tokenization and payment processing solutions. Early users of HashSphere include notable companies such as Australian Payments Plus, Blade Labs, and Vayana, who are already experimenting with the platforms capabilities.

Looking ahead, Hedera plans to fully launch HashSphere by the third quarter of 2025, offering businesses a powerful blockchain solution that combines regulatory compliance with high-performance capabilities.

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Text source: Coindoo

Blockchain