HederaPrice

(HBAR)

Hedera is a decentralized public network designed for the global digital economy. Unlike traditional blockchain projects that use a chain of blocks, Hedera uses a unique technology called Hashgraph. This consensus mechanism is based on a directed acyclic graph structure that allows transactions to be processed in parallel rather than sequentially. The core of the technology is the gossip about gossip protocol. In this system, nodes on the network share information about transactions with one another at a rapid pace. As these nodes spread data, they also share the history of how that information was passed along. This allows the network to reach consensus on the exact order and timing of transactions without the need for energy-intensive mining. The network achieves a high level of security known as asynchronous Byzantine Fault Tolerance, which ensures it can remain functional even if some nodes act maliciously or fail to communicate. Governance is a distinguishing feature of the project. Hedera is managed by the Hedera Governing Council, which consists of up to 39 leading global organizations, including major technology firms, banks, and universities. This council is responsible for overseeing the network nodes, managing the treasury, and directing software development. This model is intended to provide long-term stability and prevent the network from splitting into competing versions, which is a common challenge for many decentralized projects. The native utility token of the network is HBAR. It serves two primary functions. First, it is used to pay for network services such as transaction fees, smart contract execution, and file storage. Second, it is used to secure the network through a proof of stake model. Token holders can stake their HBAR to nodes, which increases the weight of those nodes during the consensus process, helping to protect the network from attacks. Common use cases for the platform include the creation of digital assets through the Hedera Token Service and the recording of verifiable event logs via the Hedera Consensus Service. It is frequently used by enterprises for supply chain tracking, identity management, and decentralized finance applications. Because it does not rely on mining, the platform is noted for its high transaction speed and low energy consumption compared to many other distributed ledger technologies. Learn more

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