Using a type of distributed ledger technology known as a Hashgraph, Hedera is able to provide a stable, transparent network for a variety of decentralized, enterprise-grade applications and use cases.
Hedera 7 key point overview:
- ✔️What is Hedera
- ✔️Who created Hedera
- ✔️Features of Hedera
- The HBAR coin
- Where to buy HBAR
- Top 3 HBAR wallets
👉 The use cases for Hedera are payments, tokenizing digital assets, mitigating fraud, management and maintenance of credentials, data compliance, and the creation of permission-based blockchains and private ledgers.
👉 The main focus of Hedera is giving startups, enterprises, creators, and consumers a platform that can be used to create advanced web3 applications and to allow them to use the publicly distributed ledger for the most common use cases.
👉 Hedera distinguishes itself from other blockchains by being more sustainable and efficient, using more sophisticated algorithms, and by striving for superior and reliable network performance.
👉 The Hedera blockchain was co-founded by Dr Leemon Baird and Mance Harmon, who are both technical experts and are actively involved in the development and governance of Hedera.
👉 Dr Leemon is the inventor of the Hashgraph algorithm and has over 2 decades of experience in technology.
👉 He has a PhD in computer science and has many years of experience in working with startups.
👉 Mance has over 20 years of experience as an entrepreneur and strategic leader and has worked with multinational corporations, government agencies, and tech startups.
👉 He also specializes in machine learning and computer science.
👉 Hedera is also governed by a council of major international companies, including IBM, LG, Google, Avery Dennison, Deutsche Telekom, Boeing, Standard Bank and Tata Communications.
👉 Over 20 industry leaders are committed to maintaining governance within Hedera, overseeing the development of software, and ensuring overall compliance with international standards.
👉 The Hedera Hashgraph is a public proof-of-stake network that uses asynchronous Byzantine Fault Tolerance (aBFT), which ensures the highest degree of security and fast transaction speeds with low bandwidth consumption.
👉 Hedera Hashgraph can currently process 10,000 transactions per second and the HBAR cryptocurrency keeps fees low.
👉 Hedera Hashgraph is part of Voluntary Ecological Markets, which is an international organization focused on changing token standards so that blockchains can become carbon negative and commit to a low energy footprint.
👉 There are four main components to Hedera and these are:
➡️️ Smart contracts that automatically execute logic and are capable of building decentralized applications for many use-cases
➡️️ File Service for data and storage management, where distributed file storage can be controlled automatically
➡️️ Consensus Services that ensure fast, reliable, and secure consensus in any application
👉 The Hedera Token Service gives any business, developer or individual the ability to create tokens on the platform.
👉 The HBAR is a multi-functional token that is native to Hedera and there is a maximum total supply of 50 billion units.
👉 It is needed for smart contracts and dApps, it secures the network and it can be staked to earn interest on idle tokens.
Where to buy HBAR
👉 Most popular exchanges, such as Binance, Kucoin and OKEx, will sell HBAR.
👉 Based on research, we have compiled a list of the top 3 wallets that are compatible with the Hedera ecosystem and suitable for storing HBAR coins.
👉 The most attractive features of the multi-currency Atomic wallet is its anonymity, decentralization, atomic swaps, and security.
👉 This wallet can also be used as an exchange and it supports over 300 cryptocurrencies. It is easy to use, beginner-friendly and free.
👉 Exodus is a user-friendly desktop and mobile crypto wallet that allows users to store and trade more than 150 tokens and coins using the built-in exchange.
👉 It also has a variety of dApps integrated and ready to be used directly from the app.
👉 Guarda is a non-custodial software wallet that is compatible with desktop and mobile devices, and also works as a chrome browser extension.
👉 This wallet offers multi-currency support that can be used to buy more than 50 major cryptocurrencies.
👉 It can also be used to earn interest by staking digital assets and rewards users through a referral program.
👉 Hedera can be used for gaming, decentralized finance (DeFi) products, digital identity mechanisms, and more.
👉 It can be used in the industries of healthcare, media, agriculture, technology, logistics, retail and financial services, and many apps have already been developed using Hedera.
👉 The possibilities are endless with Hedera – it’s the only platform you will need to drive your campaign or to give your startup a head start and a competitive advantage!