We are in the dawn of new decentralized era where people who don’t know or trust each other can securely collaborate and transact online without the need for an intermediary. For distributed ledgers to go mainstream and enable this vision there are four issue that must be addressed.
Hedera Hashgraph is the enterprise grade public network that addresses this challenge. The underlying hashgraph consensus algorithm offers speed and scalability, fair ordering, and best-in-class security for mission-critical application. Hedera is a platform built on and built for ‘TRUST’.
MORE ABOUT HEDERA HASHGRAPH (HBAR)?
- Hedera Hashgraph is a next-generation blockchain designed to meet the rising demand of blockchain solutions. HBAR is an open review consensus algorithm developed in 2016 by Dr. Leemon Baired. Hedera is the decentralized public network and governing council, owned and governed by a global council including Braid’s company Swirls Corporation, along with corporation such as Boeing, Deutsche Telekom, Google, IBM, Tata Communication, LG and more. Bring them all together and you get Hedera Hashgraph-the only public distributed ledger in the world that uses the unique Hashgraph algorithm, with its very own native token, HBAR.
- HBAR coin are used to.
- Power decentralized application.
- Make payment.
- Secure Hedera’s Proof-of-Stake network.
The 3rd GENERATION LEDGER
|· Bitcoin pioneered decentralized infrastructure and Ethereum brought programmability. But earlier proof-of-work blockchains consume massive amounts of energy and process transactions slowly in order to achieve acceptable levels of security. Heavy bandwidth consumption by these technologies leads to expensive fees, even for a simple cryptocurrency transaction.
· The Hedera proof-of-stake public network, powered by hashgraph consensus, achieves the highest-grade of security possible, with blazing-fast transaction speeds and incredibly low bandwidth consumption. By combining high-throughput, low fees, and finality in seconds, Hedera leads the way for the future of public ledgers.
WHY HEDERA HASHGRAPH(HBAR)?
- There are 3 major reason that why we should opt for HBAR.
- Incredible throughput
- The Hedera network achieves 10,000 HBAR cryptocurrency transaction per seconds, in a single shard and on-ledger, without compromising on network security stability.
- Predictably low fees
- Hashgraph consensus is incredibly lightweight, allowing for the cost per HBAR transaction to be very small – around $0.0001 USD. In combination with high throughput, micropayments using a token on Hedera, or HBARs, is a practical reality.
- Finality in seconds
- Never waits for back confirmations again. HBAR transaction achieve finality, on-ledger, within 3-5 seconds. Be confident in payment settlements and offer modern digital experience within your application.
WHERE HEDERA HASHGRAPH(HBAR) CAN BE USED?
- Currently the HBAR is being used at different sectors like Payments, Healthcare, Tokenized Assets, Fraud Mitigation, Identity, Data Compliance and many other fields.
- Both HBARs and Hedera Token Service issued tokens take seconds to settle, on par with the VISA network. This makes HBARs, stablecoins, and other cryptocurrency transactions a viable option for commerce and finance.
Low and Predictable Fees
- Hashgraph consensus is fast and efficient, enabling low and predictable transaction fees for issued tokens. It costs less than 1¢ USD to transfer any sum of a tokenized assets on Hedera.
- Stablecoins and cryptocurrencies used for payments require configurations at the account level to meet regulatory compliance. Hedera enables token issuers to define account-level KYC verification and freeze, token supply management, transfer and more.
Ensure Platform Stability
- Managing private consortium governance and network infrastructure is resource intensive. Hedera is owned and operated by the world’s leading organization, ensure stability in governance, network and technology.
Improve Patient Outcomes
- Delayed transfer of medical information and a lack of real-time patient status often results in medical mistakes and poorer outcomes. Hedera enhances the speed at which patient data is shared and made available.
- Healthcare applications must respect patient confidentiality and abide by federal regulations. Hedera balances transparency and trust, while preserving privacy and enabling applications to meet regulatory certification.
- Fraud Mitigation
- Digital fraud accounts for over $600 billion, or 0.8% of global GDP, through losses, reputational damage, and more. Reduce costs by ensuring real-time data congruence and standards between parties, while enhancing the ability to catch fraud before it happens.
- Delayed disclosures and lack of real-time detection of malicious activities result in reputational damage. Enhance customer trust and loyalty by bolstering existing fraud detection systems through real-time and publicly auditable, timestamped logs.
- The most impactful fraud mitigation often requires transparency and aggregation of data across disparate organizations. Empower fraud detection systems with the support of data standards and real-time verifiability, while still protecting customer privacy and Personally identifiable information.
DRAWBACK OF HEDERA HASHGRAPH(HBAR)
- Well, what’s the meaning of being free, can someone get Bitcoin for free? Or do you mean free as open source? HBAR is open reviewed… Hence less people forking and only the council can decide on a change or update.
- It is decentralized, and worldwide with aim to not have a concentration of nodes in one country/government. Hence an insurance of being stable and less prone to 33% attacks (BTC is 51%).
“Free as in freedom.
HBAR is open, but patented.
I’m not saying that this is better or worse.
But isn’t like many other projects around.”