Buy Hedera Hashgraph
About Hedera Hashgraph (HBAR)
Hedera Hashgraph (HBAR) is a decentralized public network seeking to put an end to the long-standing tradeoff between speed and security.
While decentralized in terms of its consensus-reaching protocol, the network is owned by 39 of the world’s biggest corporations, including Google, Boeing, IBM, and Nomura. These titans control governance, voting on software changes and how resources are allocated. In addition to the governance, these companies are also tasked with implementing and maintaining the initial set of nodes used to power the network.
HBAR is the network’s native coin. It serves as “fuel” (used to pay traction fees incurred by users) and as means for securing the network. HBAR holders can stake their tokens to the network in order to partake in the transaction validation process. As a reward, these “stakers” receive a cut of transaction fees.
Building trust amongst node operators lies at the center of Hedera’s mission. It’s not a traditional blockchain in the same vein as, say, the Bitcoin network; rather, it is a distributed ledger that reaches consensus through complex Hashgraph cryptography, viewed as able to provide the security of a proof-of-work (PoW) system without sacrificing on transaction speed.
Current blockchain technologies operate sort of like a vigilant landscaper constantly trimming branches of blocks so the network appears as one continuous chain. In more technical terms, if two blocks of transactions are created at the same time, legacy blockchain networks, such as Bitcoin, must pick one and run with it, while “chopping off” the branch containing the discarded block. Hence, there is the appearance of a lone, continuous chain of blocks.
Hedera, by contrast, leans into consensus-reaching chaos, representing not a manicured hedge row but more of an unruly jungle albeit one that is underpinned by a complex ecosystem. Hedera doesn’t aim to curate a single chain of blocks. Rather every new block is incorporated into a web-like series of branches intertwining, forming the network’s distributed ledger. No new blocks are deleted, meaning the network operates at near perfect efficiency, helping to cut down on transaction costs in the process.
In terms of network utility, Hedera Hashgraph isn’t all that different from legacy chains like Ethereum. The network allows developers to run smart contract laden decentralized applications with use cases ranging from open APIs for healthcare data to music streaming, and file storage/sharing. The network’s Hedera Token Service (HTS) allows developers to mint their own native fungible and non-fungible tokens, all without the need to deploy a smart contract. Ultimately, Hedera Hashgraph hopes to be the platform from which major multinational corporations launch their own unique dApps.
What’s the price of HBAR?
As of early May 2021, HBAR is trading at $0.33, up nearly tenfold since the start of the year. There are currently upwards of 8.2 billion HBAR in circulation, giving the coin a market cap of $2.7 billion, good for 52nd globally. According to the networks HBAR Economics Whitepaper, HBAR has a maximum supply of 50 billion coins which will be distributed via a slow and measured release schedule set by the networks governing board (roughly 18% of all HBAR will be in circulation by the end of 2021).
In mid-April of 2021 network co-founder Dr. Leemon Baird announced that the Hedera Hashgraph mainnet had reached one billion transactions in just 19 months since its public debut in September of 2019. With its role in facilitating crypto adoption amongst a number of the world’s leading corporations, HBAR could be poised to gain momentum even in the medium term.
How to buy (HBAR)
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This article is for informational purposes only and takes no account of particular personal or market circumstances, and should not be relied upon as investment, tax, or legal advice. For investment, tax, or legal advice and before taking any action you should consult your own advisors. Note that digital assets such as cryptocurrencies present unique risks for investors. Please see our disclaimer regarding risks specific to holding digital assets before investing.
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This content is correct as of January 2021
Note: this cryptocurrency is not available for withdrawal to external crypto wallets. It can be bought, held, and sold on Uphold.
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