About Hedera Hashgraph
The price Hedera Hashgraph today is 0.179893 USD, and the trading volume in 24 hours - 126,839,016 USD. The crypto asset has grown by 4.4% over the day. Currently, the coin’s market capitalization is 1,640,436,385 USD, and has 9,118,956,183 coins in circulation with the max supply of 13,150,403 coins HBAR.
What is Hedera Hashgraph (HBAR)?
Hedera Hashgraph is a cryptocurrency network that aims to serve as a platform on which anyone can perform transactions and deploy applications, and where a group of creators controls the software.
To achieve this goal, Hedera makes notable design compromises that distinguish it from other platforms. For example, the network supports high transaction rates for its HBAR cryptocurrency, but only allows approved nodes to participate in determining the transaction history.
By limiting the number of nodes involved in key functions such as timestamp and transaction ordering, Hedera Hashgraph can reach completion quickly, reducing the chance of changing the state of transactions in the future.
The Hedera team claims that this gives participants the necessary assurance, as they can be confident in making decisions based on this data.
As of 2021, this idea seems to be gaining momentum, as the model has been able to attract dozens of large companies, such as LG, IBM, and Boeing, as nodes in the network.
Who created Hedera Hashgraph?
Hedera Hashgraph was created by Lemon Baird, a computer scientist, and Mance Harmon, a technology executive. Together, Baird and Harmon in 2015, the company launched Swirlds.
Swirlds, in turn, created a venture called Hedera, which was renamed Hedera Hashgraph, to develop and manage the existing Hedera network using its technologies.
Since 2018, Hedera Hashgraph has raised $ 124 million from the sale of its HBAR cryptocurrency through a simple Future Token Offering Agreement (SAFT).
Launched as a private network, Hedera Hashgraph plans to gradually allow more objects to join the network until it finally becomes public.
What is unique about Hedera Hashgraph?
The most unique feature of Hedera Hashgraph is a data structure for grouping transactions, called a hash graph, which claims to process more transactions more cheaply than existing blockchains.
Hashgraph is a proprietary algorithm in which all nodes constantly exchange information with each other, and was originally developed for private use.
Hedera Hashgraph is the first iteration of the algorithm that is used in the public network.
How many HBAR tokens are in circulation?
As of January 2021, there are 6,775,484,675 HBAR coins in free circulation, with no maximum supply.
How is the Hedera Hashgraph network protected?
To ensure that all computers in a distributed network agree on the transaction history, Hedera Hashgraph uses a Hashgraph consensus mechanism based on two types of nodes.
Consensus nodes determine the order and history of transactions, while mirror nodes transmit this information to other stakeholders across the network.
By using a limited number of nodes to determine its history, the Hedera model ensures that transactions are not later reversed. This is different from how most traditional blockchains achieve consensus, where the state of the block chain is determined by users proposing to add blocks to the chain in a market competition open to all.
As a result, Hedera Hashgraph claims to offer features that combine the benefits of both public and private blockchain networks.
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