Hedera Hashgraph, often referred to simply as "Hedera," is a decentralized public network that uses a directed acyclic graph (DAG) data structure to achieve distributed consensus. It is not a traditional blockchain but rather a distributed ledger technology (DLT) that aims to provide a more efficient and secure platform for decentralized applications (DApps) and smart contracts.
The Token is $HBAR
Key features of Hedera Hashgraph include:
Asynchronous Byzantine Fault Tolerance (aBFT): Hedera claims to achieve high levels of security and consensus through its aBFT algorithm, which ensures that the network remains secure even in the presence of malicious nodes.
Fast and Fair Consensus: Hedera aims to provide fast transaction finality, allowing for quick confirmation of transactions. It also strives for fairness in the consensus process, preventing a single party from dominating decision-making.
Low Transaction Fees: Hedera intends to keep transaction fees low, making it cost-effective for users and developers to interact with the network.
Governance: Hedera features a council of major enterprises from various industries that participate in the governance of the platform. This council helps make decisions about the network's development and operation.
Tokenization and Smart Contracts: Like many other blockchain and DLT platforms, Hedera supports tokenization and the creation of smart contracts, enabling developers to build decentralized applications on top of the network.
The native cryptocurrency of the Hedera network is called HBAR. It is used to pay for transaction fees, participate in the network's governance, and interact with decentralized applications on the platform.
Many large Tech companies such as:
Run Nodes for Hedera and are on the Governing Council
Walmart is soon to follow suit. Worth paying attention to.
You can also stake Hedera very easily using the Hashpack wallet.
