What is Hedera (HBAR): Complete Guide for Beginners and Investors
Hedera is a public distributed ledger technology that operates under a unique consensus mechanism called Hashgraph. Founded in 2018, Hedera aims to offer fast, fair, and secure infrastructure for individuals and businesses to make decentralized applications more functional and efficient.
Hedera was launched in 2018 by Leemon Baird and Mance Harmon. Unlike traditional blockchains, Hedera uses the innovative Hashgraph consensus which is said to offer higher speed, efficiency, and security. It has continuously grown in popularity due to its scalable infrastructure and unique governance model, consisting of some of the largest multinational corporations.
TECHNOLOGY
Hedera's technology is built on Hashgraph - a consensus algorithm that allows for high transaction throughput. It is designed to overcome limitations of existing blockchain technologies in terms of transaction speed, cost, and energy efficiency. Hedera supports smart contracts, file storage, and cryptocurrency transactions.
USE CASES
Hedera is used for microtransactions, decentralized finance applications, and secure, decentralized identity management. Some of the notable use cases include: Real-time microtransactions with low fees; Decentralized finance (DeFi) applications; Supply chain tracking and management infrastructure.
FORECAST
Analysts view Hedera as a promising technology due to its unique Hashgraph consensus mechanism. The high throughput and low transaction costs are expected to attract more decentralized applications to the platform. However, its price may be affected by developments in the broader crypto market, adoption rates, and regulatory news.
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