Hedera Hashgraph: A Complete Beginner’s Guide to Hedera Hashgraph and the HBAR token.
The 3rd generation distributed ledger is looking to become the protocol of choice for business and individual transactions.
By Wendy's Whitepaper Contributor: Dragonwolftech
What is Hedera Hashgraph (HBAR)
Blockchain is fast becoming a centerpiece to the future state of technology. But Blockchain is not alone in designing a decentralized future. In this complete beginner’s guide to Hedera Hashgraph, we will look at Hedera Hashgraph, a proof of stake public and decentralized network protocol that sees itself as the next generation of distributed ledger technology.
Hedera calls itself, the 3rd generation public ledger, Bitcoin and Ethereum being 1st and 2nd generation. According to Hedera, the vision of Hedera is “to build a trusted, secure, and empowered digital future for all.”
Hedera Hashgraph is a distributed ledger protocol described as a successor to blockchain technology. But where the image of blockchain technology is of a series of blocks linked together, Hedera Hashgraph is more like a graph. Directed Acyclic Graph or DAG is the technology that unpins Hedera Hashgraph and is designed to process transactions (6.5 million) much faster than its competitors, in this case, Bitcoin (300,000) and Ethereum (1.2 million).
A decentralized public network, developers can use Hedera to build secure decentralized applications (dAPPS). According to Hedera, by being built on Hedera, dAPPS achieves a consensus in almost real-time.
Hedera Hashgraph was launched in July 2017 by Dr. Leemon Baird and Mance Harmon, who acts as Chief Scientist and CEO, respectively. With Hedera Hashgraph, the speed that transactions are verified goes up as more transactions are added to the network.
A group of companies govern Hedera and make up the Hedera Governing Council, including Avery Dennison, Boeing, Chainlink Labs, IBM, Google, LG, and more.
Hedera Hashgraph in Action
In May 2021, SUKU partnered with Hedera to create an environmentally friendly NFT platform called INFINITE. INFINITE, using Hedera Hashgraph, says it is a carbon-negative NFT platform as it uses the Hashgraph Proof of Stake consensus mechanism instead of a Proof of Work (POW) consensus mechanism currently used by Ethereum.
Hedera Hashgraph (HBAR) at a Glance
The native token of Hedera Hashgraph (HBAR) has a current market capitalization of $1,667,472,383 and, at the time of publishing, is trading at $0.18 via CoinMarketCap.com. Hedera uses HBAR for use in staking on a network node, and to vote on transactions during consensus. HBAR is listed on several cryptocurrency exchanges, including Binance, Binance.us, Bittrex, Okcoin, OKEx, HitBTC, and more. Wallets that support HBAR include BitGo, Exodus, Guarda, Atomic Wallet, Ledger, BRD, and Coinomi.
To learn more about Hedera Hashgraph, go to the official Hedera website. The Hedera Hashgraph team is active on various social media platforms, including Telegram, Reddit, Medium, Discord, and Twitter.
Hedera Hashgraph shows that the push for adoption is not just amongst currencies but also the underlying technology. Also with the push to make cryptocurrency more environmentally friendly, starting off as a Proof of Stake consensus, may just give Hedera the edge.
Wendy's Whitepaper Disclaimer: Please be advised that I own a diverse portfolio of cryptocurrency assets, and anything written or discussed in connection to cryptocurrencies– regardless of the subject matter's content– may represent a potential conflict of interest. I wish to remain transparent and impartial to the cryptocurrency community at all times, and therefore, the content of my media is intended FOR GENERAL INFORMATION PURPOSES ONLY. Nothing that I write or discuss should be construed, or relied upon, as an investment, financial, legal, regulatory, accounting, tax, or similar advice. Nothing should be interpreted as a solicitation to invest in any cryptocurrency, and nothing herein should be construed as a recommendation to engage in any investment strategy or transaction. Please be advised that is in your own best interests to consult with investment, legal, tax, or similar professionals regarding any specific situations and any prospective transaction decisions.