Projects leveraging ledger technology champion decentralization efforts aimed at creating more transparent systems. The Hedera Network upholds these principles but distinguishes itself from traditional blockchains. Utilizing a consensus mechanism called Hashgraph, it features a native token known as HBAR coin. This article delves into Hedera Hashgraph, HBAR, and their underlying mechanics.
Top Crypto Apps to Buy HBAR Coin
Table of Contents
- What is Hedera?
- Who Founded Hedera?
- How Hedera Hashgraph Works
- What is HBAR Coin?
- Use Cases of Hedera and HBAR Coin
- Public vs. Private and Permissioned vs. Permissionless
- Where to Buy HBAR Coin?
- Conclusion
What is Hedera?
Hedera is a fully open-source public network and governing body employing a proof-of-stake (PoS) system to build decentralized applications. It offers developers three core services: Solidity-based smart contracts, consensus mechanisms, and tokenization.
Unique features of Hedera include:
- High-speed HBAR transactions.
- Energy efficiency with a carbon-negative footprint.
- Security via the patented Hashgraph consensus algorithm.
👉 Discover the best platforms to trade HBAR
Who Founded Hedera?
Hedera Hashgraph was co-founded by Leemon Baird (computer scientist) and Mance Harmon (tech executive) through their company Swirlds in 2015. Hedera raised $124 million in its 2018 SAFT token sale and launched its mainnet in 2019.
How Hedera Hashgraph Works
Hashgraph Consensus
Unlike traditional blockchains, Hedera’s nodes collectively validate transactions via asynchronous Byzantine Fault Tolerance (aBFT), ensuring 100% finality. Key advantages:
- Efficiency: All transactions are recorded—none are discarded.
- Security: Mathematically proven aBFT via the Coq system.
Hedera Governing Council
A 39-member council (including Google, IBM, and Boeing) oversees consensus nodes. While currently permissioned, plans exist to decentralize node operation in the future.
What is HBAR Coin?
HBAR is Hedera’s native cryptocurrency used for:
- Paying transaction fees.
- Securing the network via proxy staking.
- Earning rewards by delegating stakes to approved nodes.
Total Supply: 50 billion HBAR (fully circulated at launch).
Use Cases of Hedera and HBAR Coin
- Payments: Peer-to-peer transactions with HBAR or stablecoins.
- Content Authenticity: Verify media/document integrity.
- DeFi: Build lending protocols, oracles, and more.
- NFTs: Mint and trade unique tokens.
- CBDCs: Facilitate central bank digital currencies.
👉 Explore HBAR’s growing ecosystem
Public vs. Private and Permissioned vs. Permissionless
Hedera currently operates as a permissioned public network but aims to transition to permissionless for full decentralization.
Where to Buy HBAR Coin?
HBAR is available on major exchanges like:
- OKX
- Binance
- Kraken
- KuCoin
Price Tracking: Check CoinMarketCap or CoinGecko for HBAR-to-fiat rates.
Conclusion
Hedera Hashgraph offers enterprises a secure, scalable platform for blockchain applications, while HBAR provides investors exposure to transaction fees and staking rewards. Always conduct thorough research (DYOR) before investing.
FAQs
1. What makes Hedera unique?
Hedera uses Hashgraph consensus for high-speed, low-cost transactions with aBFT security.
2. Is HBAR a good investment?
HBAR’s value hinges on Hedera’s adoption in enterprise and DeFi ecosystems.
3. How does Hedera achieve carbon negativity?
Through energy-efficient consensus and carbon-offsetting initiatives.
Disclaimer
Information provided is for educational purposes only. Invest responsibly.