This cryptocurrency uses the Hedera Hashgraph network, a platform that allows people to transact and deploy applications. Unlike other crypto projects, this is overseen by a group of businesses. The cryptocurrency is quite popular and has attracted dozens of major companies, including IBM, Google, LG, and Boeing. The coin is meant to offer low transaction fees and very high transfer speeds.
A Bit About Hedera
This cryptocurrency has two founders: Dr. Leemon Baird and Mance Harmon. Dr. Leemon is considered the creator of the hashgraph distributed consensus algorithm and serves as the chief scientist of the project. Mance serves as the company CEO. The initial coin offering of Hedera was held in 2018, and access to the mainnet was launched in 2019. It is used to power Hedera, which is an enterprise-grade hashgraph network. By using proof of stake and hashgraph consensus, the coin is able to use very low energy for transfers. At the same time, users of the altcoin are able to enjoy very high levels of security, as well as lightning-fast transactions.
Hedera offers smart contract, that's done smarter according to them.CryptoLists.com
The maximum supply of this token is set at 50 billion coins, and the company publishes regular reports to indicate when the next wave of the token will be unlocked. According to the white paper of the token, 34% of the coins will be released by 2025. A unique aspect of this coin is that it doesn’t work on a blockchain and instead uses a hashgraph.
Utility of Hedera?
The coin has dual roles in the Hedera network. First, it powers services on the network. For example, you can use it to pay for regular transactions and file storage space. You can also use the token when creating smart contracts on the network. The coin is also used to secure the network through staking. This also allows holders of the cryptocurrency to earn rewards. This token is also a great investment, as has been proven by its quick growth. However, remember that cryptocurrencies are not guaranteed to keep rising and can easily go to zero.
Hedera Price details
›› HBAR tokenomics and social media
Advantages of Hedera+ You can send transactions in less than a second.
+ The coin is extremely secure to use.
+ You will be able to transfer Hedera coins cheapy.
+ The token offers energy-efficient transactions.
+ Fees on the network don’t change because of network clogging.
Disadvantages- It uses hashgraph technology, which hasn’t been tested for long.
- The 10,000 TPS rate hasn’t been tested yet.
- The technology is not open source.
- Only council members can run the nodes.
- There is no mining system to earn HBAR coins.
Costs▪ Rated at 10/10
The average transaction fee for this cryptocurrency is $0.0001, which is extremely low. When transacting with BTC, you would need to pay an average fee of about $23. With Ethereum, the average transfer cost is around $20. You should note that Hedera’s fees are always set by the governing council of the network. They are based in the USD but have to be paid out in HBAR.
Reputation and Buzz▪ Reputation rated at 9/10
▪ Buzz rated at 9/10
Hedera coin has a great reputation, particularly among corporations and organizations. This is because it doesn’t contribute to the destruction of the planet and even helps to solve some common issues associated with blockchain technology. However, lots of people in the traditional crypto community have been negative about the coin. This is because it is highly centralized, and its technology has a patent. Its nodes are operated by major corporations, including IBM, Google, and Zain. While many people in the traditional crypto community don’t support the project, it is still highly likely that it will go up in value.
Which blockchain does this token use?
This cryptocurrency doesn’t run on a blockchain and instead uses a hashgraph. This is a patented technology that has a few crucial differences from blockchain technology.
Where can you buy this cryptocurrency?
You can purchase this cryptocurrency on various prominent exchange platforms, including Binance Exchange, Huobi Global, and Bittrex. You will usually need to buy BTC or USDT before you purchase this token. HBAR is also available on many decentralized exchanges.
Who is the founder of this cryptocurrency?
This cryptocurrency was created by Dr. Leemon Baird and Mance Harmon, both of who have had distinguished careers in the tech sector. The two men now work with a team of more than 12 individuals.
Can you stake the coins in order to earn rewards?
Yes, the hashgraph technology is secured with the proof of stake system, so holders of this coin can stake them to earn rewards.
How many Hedera coins are in circulation?
The maximum supply of this cryptocurrency is 50 billion, but at the moment, the coin has a circulating supply of close to 21 billion. According to the white paper on the cryptocurrency, 34% of the tokens will be released by 2025.