InstaForex

September 21, 2021

Get to Know Crypto: Hedera Hashgraph (HBAR), Visa & Solana (SOL) Real Competitors!

 Another crypto technology that is gaining the attention of investors is Hedera Hashgraph (HBAR).


If you are interested in investing in this technology, first understand its background before making an investment.



Trivia Hedera Hashgraph (HBAR)


Described as the only decentralized (decentralized) distributed ledger that applies a fast, fair, and secure hashgraph consensus mechanism.

Developed by Dr. Leemon Baird and Mance Harmon in 2019.

HEDERA

A distributed ledger that uses hashgraph technology instead of blockchain which is synonymous with crypto.

It can be imagined as a reacting graph, for example the speed of transaction confirmation increases as more and more transactions occur.

Can also be considered as a blockchain as it is but much better in terms of energy saving, stability, and security.

HASHGRAPH

Originally developed for personal use created as a DLT framework by Baird. (DLT: distributed ledger technology)

It is a distributed consensus algorithm in which nodes are always connected to each other in relation to information.

Offers security and decentralization through the use of hashing.

Overall, the Hedera Hashgraph ecosystem resembles Ethereum, can house DApps and supports smart contracts.

Hedera Hashgraph is capable of running over 500,000 transactions per second, beating Solana (SOL), making it a real competitor to Visa and some of the world’s major payment systems.

As of April, the network has completed 6.5 million transactions a day with an average transaction time period recorded of 5 seconds, in contrast to Ethereum which swallowed 1.2 million transactions and Bitcoin which consumed 300,000 transactions.

The Hedera Hashgraph algorithm works in two ways:

Directed acyclic graphs

Gossip-about-Gossip

The four main components or services of Hedera Hashgraph:

Cryptocurrency, HBAR.

Smart contract

File services

Consensus service

The native token, HBAR.

Used to pay for transactions in the Hedera Hashgraph network

As network protection from any cyber attacks

Values ​​smaller than 1 HBAR are known as ‘tinybar’. Meaning 1 HBAR = 100 million tinybars.

Has a maximum supply of 50,000,000,000 HBAR

Supply in the current cycle of this article is written: 9.7 billion HBAR

The cooperation and support of the Hedera Hashgraph project also involves:

Google

IBM

Boeing

LG

T-Mobile

Nomura

Deutsche Telekom

Chainlink Labs, and more!

Interested in getting HBAR? At the time of writing, HBAR is trading at $ 0.3361, thankfully still cheap. Investors can get it on several platforms like Binance, Huobi, Bittrex, and KuCoin.