HBAR offers an interesting combination of cutting-edge technologies

Talking a little about Project HBAR (Hedera) which has some interesting and unique features and aspects that make it stand out a little in the blockchain world in 2024.

The technology is called Hashgraph Technology.

In this technology Hedera offers speed and scale, where Hedera uses a technology called Hashgraph. This technology uses an aBFT consensus that is not a blockchain, making it possible to achieve much higher transaction speeds (10,000+ TPS) resulting in fast transaction finality (seconds) compared to many popular blockchains.

In its use, energy efficiency can be expected:Whereas Hashgraph is also known to be low energy consuming compared to Proof-of-Work consensus algorithms, the impact results in a more environmentally friendly technology.

Finally, there is the unique issue of unique governance. It contains a distributed board which means that the Hedera Network is controlled by a board of 39 globally renowned organizations, including IBM, Boeing, and Google, ensuring that no single entity controls it. With these conditions, it is expected that stability and security are more guaranteed. This governance structure is considered to increase the stability and resilience of the network against attacks and manipulation.

From the features above, there are several other features that are familiar or known to the public such as:

- Use of a compatible Ethereum Virtual Machine (EVM).

Here it is clear that developers who are familiar with Ethereum can easily build smart contracts on Hedera using Solidity.

- Low and stable transaction fees.

The most sought-after feature by many people, and HBAR uses a fixed fee system in USD, which is expected to eliminate the fluctuations and uncertainty of fees that are common on many blockchains.

- Growing ecosystem

With the existence of a thriving ecosystem Hedera actively supports and attracts new projects, and the ecosystem includes DeFi, NFTs, games, and more.

Currently, the adoption of Hedera (HBAR) is still very relatively small. Nevertheless, Hedera has interesting features, although the adoption and use of its ecosystem is still not as large as major blockchain players such as Ethereum, and many critics still argue that the initial governance structure with a limited board is less decentralized than a fully permissionless network HBAR project offers an interesting combination of cutting-edge technology, unique governance, and user-friendly features. Although adoption and decentralization challenges need to be considered.