What is Hedera (HBAR)

Hedera or HBAR (HBAR/USDT – Trade it here) is a public hashgraph network and governing body designed to address the needs of mainstream markets. It is one of the most used enterprise-grade public networks. HBAR is the native, energy-efficient cryptocurrency of Hedera that powers the decentralized economy.

What is Hedera (HBAR)
What is Hedera (HBAR)

Hedera Core Features

Hedera network has several usecases:

  • Payments: reduce cost and unlock new revenue.
  • Tokenized assets: manage and swap assets like never before.
  • Fraud mitigation: reduce costs and protect customers.
  • Identity: maintain the lifecycle of credentials.
  • Data compliance: log and publicly verify actions.
  • Permissionless blockchain: create a private ledger with public trust.

To ensure the user experience in the use cases mentioned above, Hedera, by design, aims at providing the following core features to facilitate the product:

  • Performance

The platform is built on the hashgraph distributed consensus algorithm, invented by Dr. Leemon Baird. The hashgraph consensus algorithm provides near-perfect efficiency in bandwidth usage and consequently can process hundreds of thousands of transactions per second in a single shard (a fully connected, peer-to-peer mesh of nodes in a network). Initially, it is anticipated that the Hedera network will be able to process 10,000 cryptocurrency transactions per second. Consensus latency is measured in seconds, not minutes, hours, or days.

  • Security

Hashgraph achieves the gold standard for security in the field of distributed consensus: asynchronous Byzantine Fault Tolerance (aBFT). Other platforms that use coordinators, leaders, or communication timeouts to improve performance tend to be vulnerable to Distributed Denial of Service (DDoS) attacks. Hashgraph is resilient to these types of attacks against the consensus algorithm because there is no such leader. Achieving this level of security at scale is a fundamental advance in the field of distributed systems.

  • Governance

The Hedera network will be governed by a council of up to 39 leading global enterprises. Hedera Council members will bring needed experience in process and business expertise that has been absent in previous public ledger platforms. Council membership is designed to reflect a range of industries and geographies, (ii) to have highly respected brands and trusted market positions, and (iii) to encompass competing perspectives. The terms of governance ensure that no single Council member will have control, and no small group of members will have undue influence over the body as a whole.

  • Stability

Hedera relies on both technical and legal controls to ensure the stability of the platform. Hedera technical controls enable two capabilities. First, the hashgraph technology ensures that software clients validate the pedigree of the Hedera hashgraph ledger prior to use through a shared state mechanism. It isn’t possible for a network node to fork the official version of the Hedera hashgraph platform, make changes, and then have those changes accepted as valid. If the original hashgraph platform and the copy are changed independently, software clients using the Hedera platform will know which is the valid version and which is not. Second, the hashgraph technology makes it possible for the Hedera Council to specify the software changes to be made to network nodes, precisely when those changes are to be adopted, and to confirm that they have been adopted. When the Hedera Council releases a software update, network nodes will have their software automatically updated at exactly the same moment. Any node with invalid software (i.e., one that didn’t install the software update) will no longer be able to modify the ledger or have the world accept their version of the ledger as legitimate. Hedera legal controls ensure the platform will not fork into a competing platform and cryptocurrency.

  • Regulatory Compliance

The Hedera technical framework includes controlled mutability of the network state and the potential to request or attach additional data to transactions, such as identity certificates. These features enable future functionality such as the erasure of personal data and other uploaded files and opt-in verified identity mechanisms – all optional and within the control of the end users.

HBAR Ecosystem

The Hedera Network provide a variety of services:

  • HH Icon Token Service

It allows users and developers to mint and manage fungible and non-fungible tokens on Hedera for application payments, governance, or digital collectibles.

  • HH Icon Consensus Service

It allows users and developers to record immutable, verifiable, and fairly ordered event logs for any application or permissioned blockchain framework, track assets on a supply chain, IP rights, or identity credentials.

  • Smart Contract Service

It allows users and developers to deploy smart contracts in popular languages including Solidity and Vyper to create decentralized applications and protocols.

HBAR Tokenomics

HBAR is the native, energy-efficient cryptocurrency of the public Hedera network. HBARs are used to pay application transaction fees and protect the network from attack through proof-of-stake. It has a maximum supply of 50,000,000,000 HBAR coins.

Developers use HBARs to pay for network services, such as transferring HBARs, minting fungible and non-fungible tokens, calling smart contracts, and logging data. For every transaction submitted to the network, HBARs are used to pay fees that compensate validator nodes for bandwidth, compute, and storage.

When HBARs are staked to network nodes, they have a weighted influence on consensus for validating transactions. Weighted voting makes it difficult and expensive for a bad actor to maliciously affect consensus — it would require a centralized authority to own and stake over one-third of the network’s total supply of HBAR.

How to buy HBAR?

You can buy HBAR on MEXC following the steps:

  1. Log in to your MEXC account and click [Trade]. Click on [Spot].
  2. Search “HBAR” using the search bar to see the available trading pairs. Take HBAR/USDT as an example.
  3. Scroll down and go to the [Spot] box. Enter the amount of HBAR you want to buy. You can choose from opening a Limit order, a Market order or a Stop-limit order. Take Market order as an example. Click [Buy HBAR] to confirm your order. You will find the purchased HBAR in your Spot Wallet.

For the comprehensive guide on how to buy HBAR and other available tokens, please visit special MEXC How to Buy Guides Section.

Recent HBAR Token Price & Performance

Since listed on MEXC in 2022, HBAR reached the highest price (ATH) of 0.0026 USDT in May 2022.

Interested in crypto like HBAR?

MEXC lists moonshot and provides access to trading of major crypto coins like HBAR, keep an eye on our listings in Innovation and Assessment zones, as well as major tokens in the Main Zone – we have more great projects to come! Also, visit the hot projects section to find more hot tokes that were listed already. If you would like to know more about crypto trading itself visit MEXC Academy.

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