Hedera Hashgraph is a public distributed ledger technology (DLT) network that enables people to interact and transact online efficiently and securely without the need for third-party companies, which often collect and sell their users’ personal information. (HBAR whitepaper)
Hedera Hashgraph is built on a chain of blocks. To understand this concept it is better to consider it as a graph. The speed of verifying transactions depends on the number of transactions, the greater the number of transactions on the network, the greater is the verifying speed. The name for the technology it's based on is known as Directed Acyclic Graph. A Directed Acyclic Graph helps Hedera Hashgraph to achieve more than 100,000 transactions per second.
The working Hedera Hashgraph depends on a council of 19 multinational corporations from around the world to govern the platform and the software that will run on millions of nodes globally. To reach consensus, instead of mining, nodes on the Hashgraph "gossip" with each other, comparing notes on the transaction history of the network.
Background Info
In July 2017, HBAR was initially launched by Leemon Baird, the Co-Founder and Chief Scientist at Hedera. Leemon Baird has completed his PhD in Computer Science from Carnegie Mellon. He is a former Professor at US Air Force Academy. He is also known as the inventor of the Hashgraph algorithm. The purpose of Hedera is to provide a stable, trustworthy network for a wide variety of decentralized, enterprise-grade applications, not to provide a cryptocurrency. Like all public DLT networks, however, Hedera needs a cryptocurrency to function. Hbar is the native cryptocurrency of the Hedera network. HBARs are used to power decentralized applications, build peer-to-peer transactional models, and protect the network from malicious activity.
Key Features
A cryptocurrency used for enabling low fee, highly customizable transactions on Hedera.
Smart contracts: Used for automatically executing logic and building decentralized applications targeting numerous possible use-cases.
File Service: For redundant, distributed file storage with granular controls, like append and deletion.
Consensus Service: For attaining fast, fair, and secure consensus in any application that requires trust.
Mining HBAR tokens
Hashgraph sidesteps that scaling problem by removing mining entirely and using an entirely new ledger structure, the Hashgraph. That's why all the HBARs are already made. They are locked up and are to be gradually released for a reason.
HBAR Token Wallet
The best wallet to store your HBAR coins securely are:-
BitGo - It is the leader in digital asset financial services, providing institutional investors with liquidity, custody, and security solutions.
Fireblocks - It is an all-in-one platform to store, transfer, and issue digital assets.
Kingdom Trust - It is a leading qualified custodian holding cryptocurrency investments that provides end-to-end capabilities to secure digital currencies.
Atomic Wallet - It is a decentralized multi-currency wallet with built-in atomic swaps.
BRD - It is a simple and secure onramp to HBAR. In your BRD app, a wallet is created for the HBAR you own.
Ledger Nano S and X - These are hardware wallets that are used for the storage and transactions of popular cryptocurrencies.
MyHbarWallet - It is a free, client-side interface helping you interact with Hedera.
Account creation
Account import
Instant HTS-created token support
Ivy Wallet - It focuses on design, ease-of-use, and commitment to the Hedera network services.
Account creation
Account import
HTS-created token support
HEX - It is a digital asset manager built on Hedera.
Account creation
Account import
HTS-created token support
Wallawallet - It is a premium mobile wallet for Android and iOS. Easily create, restore, and manage multiple Hedera accounts.
Instant account creation
Account import
Guarda Wallet - It is non-custodial cryptocurrency storage, that supports the most popular coins.
Instant account creation
Account import
Exodus Wallet - It is a multi-currency wallet to send, receive, and exchange cryptocurrency.
Instant account creation
Account import
Coinomi - Founded in 2014, Coinomi is the oldest multi-chain wallet available.
Instant account creation
Account import
Instant HTS-created token support
HBAR Market Cap
The current market cap of HBAR is $1,507,869,410 USD. It has a circulating supply of 8,950,269,281 HBAR coins and a maximum supply of 50,000,000,000 HBAR coins.
HBAR Token Current Price
The current price of HBAR is $0.1683 per coin.
HBAR Coin Prediction 2021
The price might reach $0.32775 USD per coin by the end of 2021.
HBAR Coin prediction 2025
The price might reach $3.46955 USD per coin by the year 2025.
Advantages
HBAR provides the highest level of security, even when malicious actors are present on the network, through a system called asynchronous byzantine fault tolerance that is employed by the nodes.
HBAR processes the transactions in parallel not serially, which makes it faster than Bitcoin and Ethereum.
It also benefits from extremely low fees and rapid transactions, with transactions reaching absolute finality in just seconds, and transaction fees of under a cent.
Disadvantages
HBAR is not open-source.
Conclusion
Hedera Hashgraph team are trying to provide users something different unlike other cryptocurrencies, and that's why their approach is different. HBAR is growing rapidly due to its key features. In the meantime, there are ongoing many upgrades in Hedera, to make it more scalable, efficient and low fees, with more transactions per second. These upgrades are promising for the future. HBAR has many advantages and some disadvantages as well like other cryptocurrencies.
In my opinion, HBAR is one of the good opportunities to invest. HBAR can be spent on many places for shopping. HBAR can be store as a long term investment, which is quite a good option for investment. Investing a small portion of your monthly income is a good step to get started with something new. No doubt HBAR has a promising future.
Where to buy HBAR Coins?
The top three exchanges, that offer the ability to buy HBAR cryptocurrency with a credit card, debit card or a Bitcoin are:-
Binance
Gate.io
Huobi
disclaimer: I am not a financial advisor. Kindly do your own research before making any decision. I am not responsible for any financial loss. You are solely independent to make your decisions. I do my own research before investing and then share my experience so others might get benefit from my little knowledge. The article is completely written by myself. No part of the article is copied from any source or website.
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