Hedera (HBAR) is a cryptocurrency that runs on Hashgraph which is a distributed ledger technology described as an alternative to blockchains. The development of cryptocurrencies, smart contracts and decentralized applications is possible on the Hedera chain. The project is backed by some of the biggest multinationals in the world – Google, IBM, Microsoft, etc.
Hedera price (HBAR): what is the current price?
Here is the live course from Hedera.
Big groups like GoogleIBM, Boeing, LG, T-Mobile, Nomura, Deutsche Telekom and EDF operate the Hedera network. The project was initiated by Leemon Baird in 2017. Leemon is a computer science professor and also CEO of Swirds Inc.
Hedera is a network that aims to provide a platform where everyone can exchange and develop applications, but where the software is supervised by a group of companies forming a Board of Directors. Hedera achieves this goal by making notable design compromises that set it apart from other platforms.
How does Hedera work?
Hedera uses a variation of proof-of-stake consensus to offer competitive transaction speed, low high fees, and reduced power consumption compared to other blockchains.
According to Hedera, the network can process more than 10,000 transactions per second, with a settlement and confirmation period of three to five seconds. The average transaction cost on Hedera is $0.0001, and the network uses a fraction of the energy used by popular blockchains like Ethereum. Nodes that validate transactions must be invited to the network to do so.
Examples of DApps launched on Hedera:
- Hedera Mirror Mag Global Rating: 7/10
With only around 30 board-trained validators, there are several criticisms of Hedera’s decentralization. However, the project is very reliable and has solid foundations.
The HBAR is volatile and erratic, but it is a good candidate for a medium to long term position.
The price is currently relatively low, it is an opportunity to anticipate a possible rebound in 2022.
The project is solid and enjoys the support of large multinationals. This bodes well for the HBAR cryptocurrency which could hit $1 in the next bullish wave by 2023.
Even if the Hedera project is not decentralized enough, it makes it possible to launch high quality DApps. This ecosystem will boost its cryptocurrency in the long term
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