Hedera Hashgraph is a public network that allows you to create decentralized applications (dApps). Unlike traditional blockchains, it uses a unique technology called hashgraph, which offers faster transaction speeds and enhanced security.
HBAR is Hedera's native cryptocurrency. You use HBAR to pay for network services, such as executing smart contracts and transferring tokens. Additionally, staking HBAR helps secure the network.
Hedera's network can process over 10,000 transactions per second (TPS), with each transaction costing around $0.0001 USD and achieving finality in 3-5 seconds.
Hedera Hashgraph operates differently from traditional blockchains. Instead of chaining blocks, it uses a "gossip about gossip" protocol. Nodes share information (gossip) about transactions with each other. This process creates a network of connections, forming a directed acyclic graph (DAG). Through this structure, nodes reach consensus efficiently.
The Hedera network employs a proof-of-stake model. You can stake your HBAR tokens to participate in securing the network. This approach enhances security and reduces energy consumption compared to proof-of-work systems.
Hedera's design allows for high transaction speeds and low fees. Transactions achieve finality within seconds, making it suitable for various applications.
Hedera Hashgraph was founded by Dr. Leemon Baird and Mance Harmon. They co-founded the company Swirlds, which developed the hashgraph consensus algorithm.
Hedera's mainnet launched on August 24, 2018. At that time, 50 billion HBAR tokens were minted.
Hedera's roadmap includes several key developments:
1. Hedera Token Service (HTS): Launched to enable the creation and management of native fungible and non-fungible tokens (NFTs).
2. Hedera Consensus Service (HCS): Provides a decentralized ordering service for application messages.
3. EVM Compatibility: Enhancements to support Ethereum Virtual Machine (EVM) features, improving smart contract functionality.
4. Network Decentralization: Ongoing efforts to increase the number of nodes and diversify governance.
HBAR is the native cryptocurrency of the Hedera network. You use HBAR to pay for network services, such as executing smart contracts, storing files, and transferring tokens. Additionally, staking HBAR helps secure the network and allows you to earn rewards.
One practical use case for HBAR is trading on cryptocurrency exchanges. For example, you can trade Hedera tokens on the KuCoin Spot Market, where HBAR is paired with various cryptocurrencies like USDT and BTC. This allows you to buy, sell, and exchange HBAR easily.
The HBAR token has a fixed total supply of 50 million tokens. The token distribution is as follows:
> Hedera Pre-Minted Treasury: 32.41% allocated for ecosystem grants, marketing, and governance initiatives.
> SAFTs & Purchase Agreements: 17.40% distributed to early strategic partners and investors.
> Ecosystem Development: 23.99% reserved for grants and programs to attract developers.
> Swirlds (Technology Developer): 7.96% allocated to the company that developed the hashgraph algorithm.
> Founders: 7.96% designated for the project's founders.
> Employees: 4.44% set aside to incentivize and reward employees.
Hedera Hashgraph (HBAR) is managed by the Hedera Governing Council, comprising up to 39 global organizations from diverse industries.
Period | Change | Change (%) |
---|---|---|
Today | $-0.00078 | -0.23% |
7 Days | $0.13811 | 71.37% |
30 Days | $0.2822 | 570.93% |
3 Months | $0.27807 | 519.17% |
These features position HBAR as a potentially compelling investment opportunity in the evolving digital economy.
1. High Performance:
> Speed: Hedera processes over 10,000 transactions per second, significantly outperforming traditional blockchains like Bitcoin and Ethereum.
> Low Fees: Transaction costs are minimal, typically around $0.0001 per transaction.
> Quick Finality: Transactions achieve finality within 3-5 seconds.
2. Energy Efficiency: Hedera's proof-of-stake consensus mechanism consumes substantially less energy than proof-of-work systems, making it an environmentally friendly option.
3. Strong Governance: A council of leading global organizations, including Google, IBM, and Boeing, governs Hedera, ensuring stability and diverse expertise.
4. Versatile Use Cases: Hedera supports various applications across industries such as finance, supply chain, and healthcare, enhancing its adoption potential.
5. Security and Fairness: The hashgraph consensus algorithm provides high security and fair transaction ordering, reducing risks of manipulation.
Understanding these factors can help you make informed decisions about the HBAR price prediction:
1. Market Demand and Supply
> Adoption Rate: Increased use of the Hedera network boosts demand for HBAR, potentially raising the Hedera price.
> Token Supply: HBAR has a fixed supply of 50 billion tokens; as more enter circulation, supply dynamics can affect the HBAR to USD price.
2. Technological Developments
> Network Upgrades: Enhancements that improve speed, security, or scalability can make HBAR more attractive to investors, supporting the HBAR price.
> Partnerships: Collaborations with reputable organizations can increase credibility and demand, influencing the HBAR token price.
3. Market Sentiment: Positive news and social media trends can drive buying interest; negative news can lead to sell-offs.
4. Macroeconomic Factors: Broader economic trends, such as inflation rates and global financial stability, can impact cryptocurrency markets and the HBAR coin price.
Staking your HBAR tokens on the Hedera network allows you to earn rewards while supporting network security. Here's a simplified guide to get you started:
1. Set Up a Wallet: Use HashPack Wallet or Ledger Hardware Wallet for staking.
2. Deposit HBAR: Transfer HBAR to your wallet. You can buy HBAR tokens on KuCoin to fund your wallet.
3. Stake $HBAR Tokens: In HashPack, go to "Stake," select a consensus node, and confirm the transaction.
4. Manage Rewards: Rewards accrue automatically. Collect them by updating staking preferences or transferring HBAR.
> Rewards: The Hedera Governing Council sets the maximum reward rate, which can change over time. For the latest rates, check the "Nodes" page on HashScan.
> Reward Distribution: Rewards accumulate and are distributed when you perform certain actions, such as transferring HBAR or updating your staking preferences.
> Staking Period: Rewards accrue for up to 365 days without a payment trigger. After 365 days, you can only collect rewards for the most recent 365-day period.
HBAR is the native cryptocurrency of the Hedera Hashgraph network and is not an ERC-20 token. However, to facilitate interoperability with Ethereum-based decentralized applications (dApps), HBAR can be "wrapped" into an ERC-20 token known as wHBAR.
This process involves depositing HBAR into a smart contract, which then issues an equivalent amount of wHBAR on the Ethereum network. This allows you to use HBAR within Ethereum's ecosystem, including various dApps and decentralized finance (DeFi) platforms.
To get verified on Hedera Hashgraph, follow these steps:
1. Deploy Your Smart Contract: Deploy your contract on the Hedera network.
2. Access HashScan: Go to HashScan and ensure you're on the correct network.
3. Locate Your Contract: Search for your contract's address and click "Verify Contract."
4. Upload Source Files: Upload your Solidity .sol source code and the .json metadata file.
5. Initiate Verification: Click "VERIFY" to compare the bytecode with the uploaded source.
6. Review Status: You'll see either a "Full Match" or "Partial Match" based on the comparison.
7. View Verified Contract: After successful verification, you can view the contract's source on HashScan.
These steps will help you verify your contract and increase transparency on Hedera.
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