The coin is undervalued and has potential
Hedera Hashgraph price emits more positive signals
https://www.economies.com/crypto/analysis/hedera-hashgraph-price-emits-more-positive-signals---forecast-today---02-01-2024-114921
Hedera Hashgraph ETF Rumors Lead to Bullish HBAR News and Analyst’s $5 HBAR Price Prediction for 2025
https://www.coinspeaker.com/hedera-hashgraph-etf-rumors-lead-to-bullish-hbar-news/
Topic: [ANN] [HBAR] Hedera - Innovative Enterprise Network (Read 576 times)
ChatGPT plugin goes live for Hedera network
Users can view account balances through a network explorer or programmatically retrieve them via the mirror node Rest API, which the plugin will utilize.
A convergence of blockchain and artificial intelligence (AI) has occurred between ChatGPT and Hedera
HBAR, the native cryptocurrency of the Hedera network. By capitalizing on the decentralized characteristics of blockchain networks, ChatGPT can establish secure interactions with the Hedera network, accessing its tools like the Hedera Consensus Service, Hedera Token Service and Smart Contract Service.
On Twitter, developer Ed Marquez provided instructions on creating the plugin, focusing on token balances of Hedera accounts. According to Marquez, users can view account balances through a network explorer or programmatically retrieve them via the mirror node Rest application programming interface (API), which the plugin will utilize. HBAR information is returned in tinybars (tℏ), where 100,000,000 tℏ represents one ℏ.
Accounts in Hedera are stored in the ledger that holds tokens, including HBAR, fungible tokens and nonfungible tokens created on Hedera.
Using a plugin, the integration of ChatGPT with the Hedera network allows for retrieving HBAR and token balances from Hedera accounts. This integration streamlines the interaction between ChatGPT and the blockchain, simplifying asset monitoring and management for users.
Once the plugin is developed and the API is operational, users can install it in the ChatGPT user interface. Users can then interact with ChatGPT to inquire about HBAR and token balances associated with Hedera accounts. The plugin will request the Hedera mirror node Rest API to retrieve the necessary information.
Blockchain technology ensures the verifiability and integrity of AI-generated content. Users can engage in microtransactions, access premium content and participate in tokenized economies without worrying about high fees or delays.
It also opens the door to the development of decentralized applications. These apps can leverage the strengths of both technologies, creating decentralized marketplaces, collaborative platforms and rewarding user contributions.
https://cointelegraph.com/news/chat-gpt-plugin-goes-live-hedera-network
Users can view account balances through a network explorer or programmatically retrieve them via the mirror node Rest API, which the plugin will utilize.
A convergence of blockchain and artificial intelligence (AI) has occurred between ChatGPT and Hedera
HBAR, the native cryptocurrency of the Hedera network. By capitalizing on the decentralized characteristics of blockchain networks, ChatGPT can establish secure interactions with the Hedera network, accessing its tools like the Hedera Consensus Service, Hedera Token Service and Smart Contract Service.
On Twitter, developer Ed Marquez provided instructions on creating the plugin, focusing on token balances of Hedera accounts. According to Marquez, users can view account balances through a network explorer or programmatically retrieve them via the mirror node Rest application programming interface (API), which the plugin will utilize. HBAR information is returned in tinybars (tℏ), where 100,000,000 tℏ represents one ℏ.
Accounts in Hedera are stored in the ledger that holds tokens, including HBAR, fungible tokens and nonfungible tokens created on Hedera.
Using a plugin, the integration of ChatGPT with the Hedera network allows for retrieving HBAR and token balances from Hedera accounts. This integration streamlines the interaction between ChatGPT and the blockchain, simplifying asset monitoring and management for users.
Once the plugin is developed and the API is operational, users can install it in the ChatGPT user interface. Users can then interact with ChatGPT to inquire about HBAR and token balances associated with Hedera accounts. The plugin will request the Hedera mirror node Rest API to retrieve the necessary information.
Blockchain technology ensures the verifiability and integrity of AI-generated content. Users can engage in microtransactions, access premium content and participate in tokenized economies without worrying about high fees or delays.
It also opens the door to the development of decentralized applications. These apps can leverage the strengths of both technologies, creating decentralized marketplaces, collaborative platforms and rewarding user contributions.
https://cointelegraph.com/news/chat-gpt-plugin-goes-live-hedera-network
Bad news
Hedera (HBAR) Is Losing Investors
As with most alternative cryptocurrencies, Hedera (HBAR) is failing to gain traction. Before the latest cryptocurrency collapses, the Hedera (HBAR) team reaffirmed its commitment to improving the project’s future so investors can safely withdraw their funds.
The amount of Hedera (HBAR) traffic dropped significantly after October. The volume fell from $151.2 million on October 21 to $32.57 million the next day. Hedera (HBAR) is now trading at $0.059 with a volume of $19.75.
https://www.analyticsinsight.net/hedera-hbar-and-tron-trx-facing-a-downfall-while-flasko-flsk-is-predicted-to-skyrocket
Hedera (HBAR) Is Losing Investors
As with most alternative cryptocurrencies, Hedera (HBAR) is failing to gain traction. Before the latest cryptocurrency collapses, the Hedera (HBAR) team reaffirmed its commitment to improving the project’s future so investors can safely withdraw their funds.
The amount of Hedera (HBAR) traffic dropped significantly after October. The volume fell from $151.2 million on October 21 to $32.57 million the next day. Hedera (HBAR) is now trading at $0.059 with a volume of $19.75.
https://www.analyticsinsight.net/hedera-hbar-and-tron-trx-facing-a-downfall-while-flasko-flsk-is-predicted-to-skyrocket
so HBAR team giving up or the investors already give up ? Whats the competition of HBAR?
Bad news
Hedera (HBAR) Is Losing Investors
As with most alternative cryptocurrencies, Hedera (HBAR) is failing to gain traction. Before the latest cryptocurrency collapses, the Hedera (HBAR) team reaffirmed its commitment to improving the project’s future so investors can safely withdraw their funds.
The amount of Hedera (HBAR) traffic dropped significantly after October. The volume fell from $151.2 million on October 21 to $32.57 million the next day. Hedera (HBAR) is now trading at $0.059 with a volume of $19.75.
https://www.analyticsinsight.net/hedera-hbar-and-tron-trx-facing-a-downfall-while-flasko-flsk-is-predicted-to-skyrocket
Hedera (HBAR) Is Losing Investors
As with most alternative cryptocurrencies, Hedera (HBAR) is failing to gain traction. Before the latest cryptocurrency collapses, the Hedera (HBAR) team reaffirmed its commitment to improving the project’s future so investors can safely withdraw their funds.
The amount of Hedera (HBAR) traffic dropped significantly after October. The volume fell from $151.2 million on October 21 to $32.57 million the next day. Hedera (HBAR) is now trading at $0.059 with a volume of $19.75.
https://www.analyticsinsight.net/hedera-hbar-and-tron-trx-facing-a-downfall-while-flasko-flsk-is-predicted-to-skyrocket
What is Hedera and how is it different from existing blockchain technologies?
Hedera is a new platform that could present an alternative to conventional blockchain technology. Currently, every blockchain uses a ‘consensus mechanism’ to validate its transactions. Older blockchains like Bitcoin and Ethereum use the Proof-of-Work (PoW) mechanism. Here, each node (or miner) dedicates computing power at their disposal to solve complex mathematical equations to access and authenticate transactional data.
Newer blockchains, however, use the more energy-efficient Proof-of-Stake (PoS) mechanism. Ethereum is also in the process of upgrading to PoS now. In PoS, miners pledge the blockchain’s native cryptocurrency to the network to qualify as transaction approvers. The likelihood of becoming a miner grows as the amount of cryptocurrency devoted to the blockchain grows. For example, a person dedicating 10 Hedera to the blockchain is more likely to become a miner than a person dedicating only seven.
Hedera (HBAR) is the native cryptocurrency of the Hedera Hashgraph system – a uniquely structured technology that is expected to be faster, more efficient, and more secure than blockchain technology.
How is the Hedera Hashgraph different from other blockchain technologies?
The Gossip Protocol
Hedera uses its revolutionary ‘Gossip’ protocol. Here, each node on the network communicates with every other node on the network to record and authenticate transactions. This leads to an explosive rate of communication. The network of individual transaction data, each connected to all other data, creates a Directed Acyclic Graph (DAG), which is the backbone of the Hashgraph Consensus Mechanism.
The Hashgraph consensus mechanism creates a graph that maps the communication of each node with every other node.
The communication history keeps growing continuously, and this information is saved on every node in the network in the form of a graph. Each time a node receives some communication, the sender and the time of receipt are recorded. This massive graph of communication history is then stored on the computers spread across the network - the ‘gossip about the gossip’.
When this graph is accessed, it is enough to reveal the transaction history, the identities of the involved parties, and the exact moment of the transaction. The two hashes are records of when one node sent out the communication and when it received its last message – a record of the transaction authentication itself on all computers in the network.
A certain number of communications is captured in 1 ’round’. In each round, a ‘famous witness’ corroborates the transaction history recorded in that round. The famous witness is the node that receives the communication before the other nodes communicating in that round. The chosen nodes then communicate with each other or ‘gossip’ to verify the data collected.
Unlike the PoW consensus mechanism, wherein one miner is selected per block to initiate the creation of a block, the Hashgraph consensus mechanism is a network of nodes mutually agreeing to add collectively verified data to the block. Once this verification process is done, the data is added to the decentralized ledger with 100 percent ‘finality,’ which means that the data can neither be tampered with nor modified nor reversed.
Public Distributed Ledger:
Moreover, unlike blockchains that store data in the form of blocks and link the data sets together, the Hedera network stores data on all connected systems on its network – a distributed ledger. But why?
Blockchain rules maintain that if two blocks are created simultaneously, one of the two will be discarded from the ledger. The decision regarding which block to add will be made by the nodes on the system. This is done to prevent the ‘forking of the blockchain, i.e., one chain splitting into two chains, and every time forking happens, it will grow infinitely like a tree.
Blockchains can also become defunct if new blocks form faster than they can be discarded. This is because the branches of the tree are forming before they can be trimmed. This is also why some blockchains use the PoW consensus mechanism to artificially stunt growth.
Hedera Hashgraph, on the other hand, discards nothing and uses everything. All the transaction data is added to the ledger after consensus and the nodes can communicate with each other to retrieve it. It is, therefore, ‘un-forkable.’
Fully Decentralised Governance:
The Hedera Hashgraph has a governance system that is completely set apart in its ways. There is a Governing Council comprising 39 industry leaders spread across geographies and 11 different sectors. All decisions regarding crucial software upgrades, pricing on the network, wealth management, etc., are made by the Governing Council.
Members of the Governing Council do not receive any profits from the network’s revenue and have a fixed term of 3 years on the council. The maximum tenure allowed is 2 consecutive terms, with the exception of Swirlds, the creator of hashgraph, who has a permanent seat and equal vote on the Governing Council.
What do these capabilities mean for end-users?
Hedera Hashgraph addresses 5 critical issues associated with other technologies – performance, security, governance, stability, and regulatory compliance (KYC required and AML compliance is checked).
The Hedera network processes over 10,000 transactions per second (TPS) as opposed to 5 TPS and 13 TPS on the Bitcoin and Ethereum blockchains, respectively. This speed is the result of the ‘gossiping’ instead of actually mining on the network. This means the nodes are just purely comparing notes on the network instead of executing complex mathematical calculations.
The transaction fee on the Hedera network is just $0.00001 as it consumes only a fraction of the energy consumed by other blockchains. Currently, only 18.09 billion Hedera tokens are in circulation, with the limit hard-capped at 50 billion HBAR.
https://www.cnbctv18.com/technology/what-is-hedera-and-how-is-it-different-from-existing-blockchain-technologies-12393172.htm
Hedera is a new platform that could present an alternative to conventional blockchain technology. Currently, every blockchain uses a ‘consensus mechanism’ to validate its transactions. Older blockchains like Bitcoin and Ethereum use the Proof-of-Work (PoW) mechanism. Here, each node (or miner) dedicates computing power at their disposal to solve complex mathematical equations to access and authenticate transactional data.
Newer blockchains, however, use the more energy-efficient Proof-of-Stake (PoS) mechanism. Ethereum is also in the process of upgrading to PoS now. In PoS, miners pledge the blockchain’s native cryptocurrency to the network to qualify as transaction approvers. The likelihood of becoming a miner grows as the amount of cryptocurrency devoted to the blockchain grows. For example, a person dedicating 10 Hedera to the blockchain is more likely to become a miner than a person dedicating only seven.
Hedera (HBAR) is the native cryptocurrency of the Hedera Hashgraph system – a uniquely structured technology that is expected to be faster, more efficient, and more secure than blockchain technology.
How is the Hedera Hashgraph different from other blockchain technologies?
The Gossip Protocol
Hedera uses its revolutionary ‘Gossip’ protocol. Here, each node on the network communicates with every other node on the network to record and authenticate transactions. This leads to an explosive rate of communication. The network of individual transaction data, each connected to all other data, creates a Directed Acyclic Graph (DAG), which is the backbone of the Hashgraph Consensus Mechanism.
The Hashgraph consensus mechanism creates a graph that maps the communication of each node with every other node.
The communication history keeps growing continuously, and this information is saved on every node in the network in the form of a graph. Each time a node receives some communication, the sender and the time of receipt are recorded. This massive graph of communication history is then stored on the computers spread across the network - the ‘gossip about the gossip’.
When this graph is accessed, it is enough to reveal the transaction history, the identities of the involved parties, and the exact moment of the transaction. The two hashes are records of when one node sent out the communication and when it received its last message – a record of the transaction authentication itself on all computers in the network.
A certain number of communications is captured in 1 ’round’. In each round, a ‘famous witness’ corroborates the transaction history recorded in that round. The famous witness is the node that receives the communication before the other nodes communicating in that round. The chosen nodes then communicate with each other or ‘gossip’ to verify the data collected.
Unlike the PoW consensus mechanism, wherein one miner is selected per block to initiate the creation of a block, the Hashgraph consensus mechanism is a network of nodes mutually agreeing to add collectively verified data to the block. Once this verification process is done, the data is added to the decentralized ledger with 100 percent ‘finality,’ which means that the data can neither be tampered with nor modified nor reversed.
Public Distributed Ledger:
Moreover, unlike blockchains that store data in the form of blocks and link the data sets together, the Hedera network stores data on all connected systems on its network – a distributed ledger. But why?
Blockchain rules maintain that if two blocks are created simultaneously, one of the two will be discarded from the ledger. The decision regarding which block to add will be made by the nodes on the system. This is done to prevent the ‘forking of the blockchain, i.e., one chain splitting into two chains, and every time forking happens, it will grow infinitely like a tree.
Blockchains can also become defunct if new blocks form faster than they can be discarded. This is because the branches of the tree are forming before they can be trimmed. This is also why some blockchains use the PoW consensus mechanism to artificially stunt growth.
Hedera Hashgraph, on the other hand, discards nothing and uses everything. All the transaction data is added to the ledger after consensus and the nodes can communicate with each other to retrieve it. It is, therefore, ‘un-forkable.’
Fully Decentralised Governance:
The Hedera Hashgraph has a governance system that is completely set apart in its ways. There is a Governing Council comprising 39 industry leaders spread across geographies and 11 different sectors. All decisions regarding crucial software upgrades, pricing on the network, wealth management, etc., are made by the Governing Council.
Members of the Governing Council do not receive any profits from the network’s revenue and have a fixed term of 3 years on the council. The maximum tenure allowed is 2 consecutive terms, with the exception of Swirlds, the creator of hashgraph, who has a permanent seat and equal vote on the Governing Council.
What do these capabilities mean for end-users?
Hedera Hashgraph addresses 5 critical issues associated with other technologies – performance, security, governance, stability, and regulatory compliance (KYC required and AML compliance is checked).
The Hedera network processes over 10,000 transactions per second (TPS) as opposed to 5 TPS and 13 TPS on the Bitcoin and Ethereum blockchains, respectively. This speed is the result of the ‘gossiping’ instead of actually mining on the network. This means the nodes are just purely comparing notes on the network instead of executing complex mathematical calculations.
The transaction fee on the Hedera network is just $0.00001 as it consumes only a fraction of the energy consumed by other blockchains. Currently, only 18.09 billion Hedera tokens are in circulation, with the limit hard-capped at 50 billion HBAR.
https://www.cnbctv18.com/technology/what-is-hedera-and-how-is-it-different-from-existing-blockchain-technologies-12393172.htm
Hedera (HBAR) Rises 4.04%, Outperforms the Crypto Market Tuesday
https://www.investorsobserver.com/news/crypto-update/hedera-hbar-rises-4-04-outperforms-the-crypto-market-tuesday
Quote
InvestorsObserver gives Hedera a moderate volatility rank of 27, placing it in the bottom 27% of cryptos on the market.
The Volatility Gauge tracks which means that one day won't define its volatility rank - a trend will. HBAR's moderate volatility reading pairs with a low reading on the Risk/Reward Gauge, meaning that the coin has moderate price swings and is well protected from price manipulation.
Hedera price is trading above resistance. With support near $0.210652760388235 and resistance near $0.224759361864905. This positions Hedera out of range and potentially in a volatile position if the rally burns out.
The Volatility Gauge tracks which means that one day won't define its volatility rank - a trend will. HBAR's moderate volatility reading pairs with a low reading on the Risk/Reward Gauge, meaning that the coin has moderate price swings and is well protected from price manipulation.
Hedera price is trading above resistance. With support near $0.210652760388235 and resistance near $0.224759361864905. This positions Hedera out of range and potentially in a volatile position if the rally burns out.
https://www.investorsobserver.com/news/crypto-update/hedera-hbar-rises-4-04-outperforms-the-crypto-market-tuesday
Hedera Base Camp to be Launched by HBAR Foundation, Outlier Ventures in 2022
The HBAR Foundation, an organization helping to foster the development of Hedera Hashgraph through the provision of grants and resources to founders and developers, and leading crypto VC Outlier Ventures today announced the upcoming launch of the Hedera Base Camp, an accelerator program for early-stage projects building on the blockchain network prior to the Hedera mainnet smart contracts launch Feb. 2.
Outlier Ventures, in collaboration with The HBAR Foundation and its network of enterprise partners including the likes of Boeing, LG, Tata, and Google, will run two Hedera Base Camp accelerator programs in 2022, each hosting up to 10 pre-seed to seed-stage startups building on the Hedera Network.
Use cases will span the Open Metaverse; including enabling highly performant (yet environmentally sustainable) NFT infrastructure, gaming, and immersive XR experiences. Hedera will also be looking at accelerating middleware and smart contract tooling on the network. In a statement, the platform said it is also looking for start-ups leveraging the network’s platform to build innovative DeFi and payment solutions and sustainability solutions for enterprises and consumers alike.
Applications for the first base camp cohort open today with recruitment and due diligence of applications running throughout February. It will launch in April.
Outlier has helped more than 100 startups raise a combined $450 million in seed funding, including the launch of several billion-dollar networks, and supports Web 3 startups from token design and issuance, new business and governance models, community building, and fundraising.
“We’re proud of our partnership with Outlier Ventures, which has been scaling the largest multi-chain ecosystem of founders, investors and experts in Web3 and is an industry thought-leader on the Open Metaverse,” said Rob Allen of the HBAR Foundation. “The Hedera Base Camp will act as a prime funnel for emerging startups searching for a highly performant, sustainable, and scalable DLT network and we are excited to welcome the Outlier team to the Hedera ecosystem.”
“We believe Hedera Hashgraph provides a powerful option for Metaverse startups, developers and enterprise partners to deploy highly immersive, affordable and performant dApps and XR experiences both for consumer and industrial use cases today as a competitor to centralised platforms,” said Jamie Burke, CEO of Outlier Ventures.
https://www.crowdfundinsider.com/2022/01/186132-hedera-base-camp-to-be-launched-by-hbar-foundation-outlier-ventures-in-2022
The HBAR Foundation, an organization helping to foster the development of Hedera Hashgraph through the provision of grants and resources to founders and developers, and leading crypto VC Outlier Ventures today announced the upcoming launch of the Hedera Base Camp, an accelerator program for early-stage projects building on the blockchain network prior to the Hedera mainnet smart contracts launch Feb. 2.
Outlier Ventures, in collaboration with The HBAR Foundation and its network of enterprise partners including the likes of Boeing, LG, Tata, and Google, will run two Hedera Base Camp accelerator programs in 2022, each hosting up to 10 pre-seed to seed-stage startups building on the Hedera Network.
Use cases will span the Open Metaverse; including enabling highly performant (yet environmentally sustainable) NFT infrastructure, gaming, and immersive XR experiences. Hedera will also be looking at accelerating middleware and smart contract tooling on the network. In a statement, the platform said it is also looking for start-ups leveraging the network’s platform to build innovative DeFi and payment solutions and sustainability solutions for enterprises and consumers alike.
Applications for the first base camp cohort open today with recruitment and due diligence of applications running throughout February. It will launch in April.
Outlier has helped more than 100 startups raise a combined $450 million in seed funding, including the launch of several billion-dollar networks, and supports Web 3 startups from token design and issuance, new business and governance models, community building, and fundraising.
“We’re proud of our partnership with Outlier Ventures, which has been scaling the largest multi-chain ecosystem of founders, investors and experts in Web3 and is an industry thought-leader on the Open Metaverse,” said Rob Allen of the HBAR Foundation. “The Hedera Base Camp will act as a prime funnel for emerging startups searching for a highly performant, sustainable, and scalable DLT network and we are excited to welcome the Outlier team to the Hedera ecosystem.”
“We believe Hedera Hashgraph provides a powerful option for Metaverse startups, developers and enterprise partners to deploy highly immersive, affordable and performant dApps and XR experiences both for consumer and industrial use cases today as a competitor to centralised platforms,” said Jamie Burke, CEO of Outlier Ventures.
https://www.crowdfundinsider.com/2022/01/186132-hedera-base-camp-to-be-launched-by-hbar-foundation-outlier-ventures-in-2022
Bad news
Hedera (HBAR) Is Losing Investors
As with most alternative cryptocurrencies, Hedera (HBAR) is failing to gain traction. Before the latest cryptocurrency collapses, the Hedera (HBAR) team reaffirmed its commitment to improving the project’s future so investors can safely withdraw their funds.
The amount of Hedera (HBAR) traffic dropped significantly after October. The volume fell from $151.2 million on October 21 to $32.57 million the next day. Hedera (HBAR) is now trading at $0.059 with a volume of $19.75.
https://www.analyticsinsight.net/hedera-hbar-and-tron-trx-facing-a-downfall-while-flasko-flsk-is-predicted-to-skyrocket
Hedera (HBAR) Is Losing Investors
As with most alternative cryptocurrencies, Hedera (HBAR) is failing to gain traction. Before the latest cryptocurrency collapses, the Hedera (HBAR) team reaffirmed its commitment to improving the project’s future so investors can safely withdraw their funds.
The amount of Hedera (HBAR) traffic dropped significantly after October. The volume fell from $151.2 million on October 21 to $32.57 million the next day. Hedera (HBAR) is now trading at $0.059 with a volume of $19.75.
https://www.analyticsinsight.net/hedera-hbar-and-tron-trx-facing-a-downfall-while-flasko-flsk-is-predicted-to-skyrocket
so HBAR team giving up or the investors already give up ? Whats the competition of HBAR?
special for signature-mafia bitcointalk members, corrupted bitcointalk DT-staff & other helmints which is artificially farming their reputation by defamation (like noorman0), I declare that
I am not an official representative of this project
don't even dream that you will find malicious links here! don't even count on this chance, stupid DT-farmers. look for your malicious links in your signatures!
Website
https://www.hedera.com
Explorers
https://hash-hash.info
https://app.dragonglass.me/hedera/home
https://kabuto.sh
https://ledger.hashlog.io
Community
https://hedera.com/news
https://hedera.com/blog
https://medium.com/hashgraph
https://twitter.com/hedera
https://www.reddit.com/r/Hedera
Chat
https://t.me/hederahashgraph
https://discord.com/invite/EC2GY8ueRk
Hedera is the most used, sustainable, enterprise-grade public network for the decentralized economy that allows individuals and businesses to create powerful decentralized applications (DApps).
It is designed to be a fairer, more efficient system that eliminates some of the limitations that older blockchain-based platforms face — such as slow performance and instability.
It was funded through an initial coin offering (ICO) in August 2018 and first launched open access to its mainnet just over a year later in September 2019. As part of the ICO, investors were able to purchase the platform’s native utility token (HBAR) at the lowest possible pricing.
The HBAR token has a dual role within the Hedera public network.
First and foremost, HBAR the fuel that powers Hedera services, such as smart contracts, file storage and regular transactions. Second, it's used to help secure the network, since HBAR users can stake their tokens to assist with maintaining the integrity of the platform.
Unlike most other cryptocurrency platforms, Hedera Hashgraph isn’t built on top of a conventional blockchain. Instead, it introduces a completely novel type of distributed ledger technology known as a Hashgraph.
This technology allows it to improve upon many blockchain-based alternatives in several key areas, including speed, cost, and scalability. Hedera transactions have an average transaction fee of just $0.0001 USD and typically reach finality in under five seconds. Overall, Hedera Hashgraph claims it can handle more than 10,000 transactions per second (TPS) — compared to the around 5-20 for most popular proof-of-work (PoW)-based blockchains.
The platform offers several major network services. These include:
- A token service that allows users to easily configure and mint both fungible and non-fungible tokens (NFTs) on Hedera with just a few lines of code.
- A consensus service that acts as a layer of trust for any application or network that needs a secure, verifiable log of events.
- Smart contract tools that let developers build powerful and efficient decentralized applications.
- Decentralized file storage services with features include proof-of-deletion, controlled mutability, and time-based file expiry.
Hedera Hashgraph uses a novel consensus system known as Hashgraph consensus to keep its network secure.
This uses a rotating governing council consisting of up to 39 highly diversified organizations that span across up to 11 different industries. These are involved with directing the Hedera codebase, voting on platform decisions and operating the initial nodes on the Hedera public network.
Hedera uses a novel form of proof-of-stake (PoS) which allows HBAR users to stake their resources to help protect the network. Right now, all Hedera nodes are managed by either Hedera itself or the governing council members, but there are plans to switch to a permissionless system in the future.
\ Overall, Hedera's security setup ensures it achieves "asynchronous” Byzantine fault tolerance (ABFT) — meaning it can guarantee both the timing and order of a set of transactions, even if some data is delayed or lost.
Sources:
https://coinmarketcap.com/currencies/hedera (Archive 27/01/2022)
https://en.bitcoinwiki.org/wiki/File:Hedera.png (Archive 27/01/2022)
Jump to: