Hedera Hashgraph is a public blockchain platform that facilitates the building of powerful decentralized apps for both individuals and organizations.
According to its design protocol, it eliminates most of the inefficiency imposed on its predecessors in the world of blockchains, such as instability and slow execution time.
By definition, the creators of the Hedra Hashgraph system tailored it to serve as a platform for the deployment of not just applications but entire software. In addition to making these provisions, the platform also makes specific design compromises that keep it ahead of other cryptocurrency platforms.
Over the years, the Hedra Hashgraph has kept its customers assured in their use of the platform’s data services in making business decisions. In 2020, the platform got major traction as its repeated success managed to attract dozens of companies Boeing and LG among others.
Who are the Founders of Hedera Hashgraph (HBAR)?
The Hedra Hashgraph was co-founded by Mance Harmon and Dr. Leemon Baird.
The distributed consensus mechanism used by the Hashgraph system was tagged by Dr. Leemon Baird as he was created as the platform’s investor. Presently, Dr. Baird works as the chief scientist at Hedera.
Before establishing the Hedera Hashgraph network, Dr. Baird gained extensive experience working in several sectors relating to computer science and security. One of his roles as a professional was as a senior research scientist at the Cyberspace Research Academy center. In addition to all of this, Dr. Baird is also a co-founder of Swirlds Inc, a platform used for the development of centralized apps. He is also the CTO of the company.
Mance Harmon on the other hand is a seasoned information technology specialist. He currently serves as the CEO of the Hedera Hashgraph network. Harmon has over 20 years in the executive world holding top positions in prominent companies, with several of them being in the information technology sector. Just like his partner, Dr. Baird, Harmon also holds a position as the co-Founder and CEO of Swirlds Inc.
Apart from the founders, the Hedera Hashgraph system also has more than a dozen members to its name.
What is Hedera Hashgraph (HBAR) used for?
The Hedera Hashgraph system has the principal function of being used for the design and creation of a variety of decentralized apps for both groups and individuals. The system is top-rated due to its efficiency and speed which surpasses most of its predecessors by a landslide.
In addition to its provision of Dapp solutions, the Hedera Hashgraph system also has a dedicated token known as HBAR. The HBAR token serves as the currency used for the execution of services on the network. The token also has value and can be traded with other cryptocurrencies to make profits for its holders.
What Is the Unique Point of Hedera Hashgraph (HBAR)?
The Hedera Hashgraph system is different from most of its contemporaries in different ways. Among these is its development on a completely new novel type of distributed ledger as opposed to the regular blockchain used by all the other cryptocurrencies. The platform currently used by the network is called Hashgraph.
The underlying technology used in the system makes it superior to platforms operating on the regular blockchain in many key areas such as cost of transactions, speed, and scalability. I’m general, transactions executed on the Hedera network cost around $0.0001 and are executed in less than five seconds. This, coupled with the network’s ability to handle over 10,000 transactions per second gives it a major advantage over the other networks operating on blockchain technology.
How many Hedera Hashgraph (HBAR) coins are in circulation?
The native time of the Hedera Hashgraph system, HBAR, has its total supply pegged at 50 billion HBAR units. In January 2021, a total of around 7 billion units were in circulation. A number that accounted for 14% of the coin’s total supply.
Before every wave release of HBAR tokens, the network makes a public report detailing its intention and the release date. This helps the participants on the network plan for the release, resulting in another unique feature of the network.
According to the split mechanism of HBAR tokens, the co-founders of the project have a joint grant of 2 billion HBARs, an amount that is equal to 4% of its total supply. The assignment operates in such a way that the tokens are to be vested over six years.
Other executive members of the Hedera network have coin allocations that stand between 250 – 300 million tokens. According to the system, these have been vested since around 2018 and end in December 2021.
Based on the white paper released by the Hedera ecosystem, there’s expected to be an estimated 17.03 billion HBAR tokens in circulation by 2025. This is an amount equivalent to 34% of the total token supply.
Is the Hedera Hashgraph (HBAR) Network secured?
The Hedera Hashgraph network is secured by a process known as the Hashgraph consensus which is used to keep the network secure.
The system operates through a process whereby there is a rotating council of government which is composed of 39 diversified organizations spanning across 11 distinctive industries. This council is involved in voting on proposals, directing the network’s codebase, and the operation of its initial nodes.
The Hedera network uses a modified version of the proof-of-stake system which allows HBAR holders to stake their tokens to keep the network protected. Currently, all the nodes on the Hedera network are either managed by the governing council or Hedera itself. However, the network plans to change this into a permissionless system in the coming years.
How do I buy Hedera Hashgraph (HBAR)?
Hedera offers speed, security, and scalability to interested participants. In addition to that, it also offers a decentralized app creation mechanism that allows its users to mint and configure non-fungible and fungible tokens via the network. This, and several other top-tier services have helped launch Hedera to the top of the cryptocurrency world making it readily available on several exchanges. To buy HBAR tokens, follow the steps below.
* Open an account with the crypto trading platform.
* Transfer the specific amount of your fiat currency to your account.
* Wait for your deposit to be confirmed and Buy HBAR through your account.