The live price of Hedera is - per (HBAR / USD) with a current market cap of $8.17B USD. 24-hour trading volume is - USD. HBAR to USD price is updated in real-time. Hedera is -% in the last 24 hours with a circulating supply of 42.24B.
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Hedera is an open-source blockchain network and governance platform that uses a Proof of Stake (PoS) consensus mechanism for developers to develop and deploy decentralized applications (DApps) in the popular Solidity programming language. It is unique in some ways due to its use of smart contract protocols and hashgraph consensus algorithms in its network design.
In addition, Hedera has two other layers, one is the unique hashgraph model Consensus, and the other is the token service for minting and deploying new cryptocurrencies and non-fungible tokens (NFTs).
HBAR is Hedera's native cryptocurrency. Distributed applications running on Hedera use HBAR to pay for network resources. Through its proof-of-stake consensus mechanism, HBAR can also be used to strengthen the blockchain network through equity investment. Equity investment contributes to the security and integrity of the blockchain network, and shareholders can receive a small portion of the transaction fees as a reward.
Hedera has attracted much attention for its extremely fast processing speed, security and energy saving. The project claims it currently has a negative carbon footprint. HBAR is the cryptocurrency of the Hedera network and runs on an independent platform. HBAR is used by network validators in the PoS consensus mechanism, who are responsible for assisting in validating transactions, adding new blocks to the Hedera network, and ensuring network security. In addition, HBAR is used to create and run DApps on Hedera.
Impressive List of Blockchain Services
In the third quarter of 2022, the Hedera network was added to the Constellation ShortListTM of blockchain services, showing the popularity of the protocol among industry experts.
Partnership with Arkhia
In September 2022, Hedera also announced a partnership with Infrastructure as a Service (IaaS) provider Arkhia to provide enterprise-grade node services for Hedera, reducing friction and cognitive burden for developers and contributing to the overall growth and adoption of Hedera.
Distributed consensus algorithms allow users to agree on the order in which transactions occur. Blocks in a blockchain are designed to form a single long chain. If two blocks are created at the same time, network nodes will eventually discard one of them to prevent the blockchain from forking into separate chains. With hashgraph consensus, each block is merged into the ledger, making them more efficient.
In addition, blockchains become congested when new blocks arrive too quickly, which is why they need consensus mechanisms such as proof of work to slow down growth. With the hashgraph consensus mechanism, new transactions and blocks can be created as needed. Hashgraph also supports stronger mathematical guarantees such as Byzantine Agreement, making this consensus faster and fairer
Hedera hashgraph consensus is cheaper and more efficient than proof of work consensus, because no time and energy is wasted mining blocks that are about to be discarded. At the same time, since distributed blockchains are only limited by bandwidth, they are very fast. Hedera has the potential to complete more than 10,000 transactions per second with an average fee of $0.0001. In addition, transactions are confirmed in less than 5 seconds, while the same transaction data takes 10 to 20 seconds on Ethereum and 10 to 60 minutes on Bitcoin. However, each transaction uses the least energy at 0.00017 kWh.
Dr. Leemon Baird and Dr. Mance Harmon founded Hedera in 2018. In 2015, Baird and Harmon developed whirlds, a software platform for developing fully distributed applications that can use cloud services without servers. Dr. Baird developed the hashgraph consensus algorithm, which swerlds licensed to Hedera shortly after Hedera was founded.
After co-founding Hedera, Baird and Harmon served as CEO and Chief Scientist, respectively. However, in April 2022, the two left those positions to become co-CEOs of a newly formed entity, Swirls Labs. The two remain representatives of Swirls on the Hedera Governing Council.
Dr. Leemon Baird is the co-founder and chief scientist of the Hedera blockchain project. In addition to the Hedera project, he also developed the hashgraph consensus model. Mance Harmon is another co-founder of the Hedera project and is also recognized as Dr. Baird's business partner.
According to its official website, Hedera is a fast, secure, and highly scalable blockchain and governance platform for developers to develop and deploy DApps in the popular Ethereum-related Solidity programming language. Hedera focuses on providing developers with an excellent network environment that can process hundreds of thousands of transactions per second. The existing governance model ensures balanced decisions on the future development of the decentralized platform. HBAR prices are updated in real time on Binance.
The maximum supply of HBAR tokens is 50 billion. As of writing, there are 32,983,824,902 in circulation.
Hedera is not a blockchain. Instead, Hedera is built on distributed ledger technology, similar in many ways to blockchains. Hedera uses hashgraph consensus, a graph-like structure where all nodes communicate with each other. This communication is then reported by building a graph of connections. Each connection contains a signature, a timestamp, a list of transactions, and two hashes, all of which can be used to verify transactions.
Hedera uses a hashgraph consensus model, which ensures extremely fast settlement speeds on the Hedera network. Due to the sharding process performed by a single node network, transaction speeds can reach up to hundreds of thousands per second. Sharding occurs simultaneously across the entire network, which supports the high speed of the Hedera network. Hedera reaches consensus through inter-propagation protocol communication and a virtual voting process. The validity and timestamp of each transaction are confirmed through these processes.
Hedera’s consensus process is said to be faster than other networks because it has a system for adding blocks without discarding any blocks. Invalid transactions are still added to the network, but in the case of valid and invalid transactions, the network will eventually break to discard the invalid transactions and keep the valid transactions. The Hedera blockchain is said to be like a tree that continues to grow branches over time, and because it does not need to make judgments about whether to add blocks, it can operate very quickly.
Hedera is different because of its hashgraph consensus mechanism, an innovative mechanism developed by Hedera’s co-founder Dr. Leemon Baird. Thanks to this network consensus model, Hedera is a fast, secure and scalable blockchain network.
Hedera is also unique in that its governance model consists of 39 entities, including many universities, 11 unique industry organizations, and a non-profit organization across major markets. These 39 entities serve for three years at a time and are required to select a successor entity at the end of their service period.
Hedera and Bitcoin each have their own pros and cons. For starters, Hedera is much faster, with a transaction rate of over 10,000 transactions per second. It is also cheaper than Bitcoin, with a transaction cost of $0.0001. In comparison, the average transaction cost on the Bitcoin blockchain is about $22. On the other hand, Bitcoin has a much larger user base than Hedera, and more adoption is good for any cryptocurrency.
Users can buy Hedera directly from the Binance platform using a debit or credit card. Users can also use Hedera to trade other cryptocurrencies on the Binance exchange. Hedera prices are updated in real time on Binance.
The Hedera to other currencies exchange rate?
