To understand more about Hedera, please refer to some of the articles below:
- What is Blockchain Layer 1? The Importance of Layer 1 in the Crypto Market
- What is Proof Of Stake (PoS)? Advantages & Disadvantages Compared to Proof Of Work (PoW)
Overview of Hedera
What is Hedera?
Hedera is a Layer 1 blockchain using the Hashgraph consensus algorithm that allows developers to deploy dApps with fast speed, high security, and Solidity language support. An innovation introduced by Hedera is the Hashgraph consensus algorithm invented by Dr.Leemon Baird, he is currently Co-Founder and Chief Scientist at Hedera Hashgraph.
Highlights of Hedera
Hashgraph consensus algorithm
What is Hashgraph?
The Hashgraph consensus algorithm offers near-perfect efficiency in bandwidth usage and can therefore process hundreds of thousands of transactions per second. Compared to the Proof-of-Work mechanism, each miner has to create blocks alone. For the Hashgraph consensus mechanism, there is a network of nodes that agree with each other to decide which transactions are added to the ledger. The goal of the algorithm is to allow a community of users to decide the order of transactions, creating a system of trust, where individuals do not have the trust of each other. People can read more about this technology here.
Hedera Smart Contracts
Hedera Smart Contracts allows developers to program applications based on the Solidity language with high compatibility with EVM. Smart Contract on Hedera allows hundreds of transactions per wire at low costs, helping developers create applications suitable for many uses.
Hedera Consensus Service
Hedera Consensus Service provides applications with direct access to native speed, security, along with the Hasgraph consensus dynamic algorithm to achieve fast, transparent and secure consensus.
Hedera Token Service
With this service, developers can create NFTs, stablecoins, rewards in games…. In addition, developers can also enable transactions at low costs, reaching Get 10,000 transactions per second, fast, with a cost always $0.0001 USD, with high customization on Hedera depending on the purpose of use.
Decentralized council
Hedera Governing Council
Hedera is governed by the Hedera Governing Council which includes 39 of the world’s leading corporations in 11 industries and spread across the world. This board is completely decentralized with each vote being equal on issues such as network upgrades, costs, Treasury spending. This model reduces group benefits, and improvements will be proposed by the community and evaluated and approved by the Hedera board.
Development Roadmap
Update….
Investor
Hedera Investor
Hedera mobilizes capital to develop the Hedera network through the issuance of Simple Agreements for Future Tokens (“SAFT”)
- SAFT Series 1: Hedera raised $4.7 million from 40 buyers
- SAFT Series 2: Here Hedera raises another $14.50 million led by DCG
- SAFT Series 3: At the 3rd call in 2018 Hedera raised a huge amount of money and was the leader in BlockTower
Core Team
Hedera’s Core Team
Mance Harmon: CEO & Co-Founder
- He earned a bachelor’s degree in Computer Science from Mississippi State University in 1993. In 1998, he received a PhD in Computer Science from Massachusetts Amherst.
- March 2012 – May 2013 He became CTO at Ortsbo, then he continued to work at Ping Identity with positions such as Head of Architecture and Head of Labs. In addition, he also worked as a board member and Advisor at Swirlds Inc before becoming CEO in 2016 also at Swirlds Inc.
- In August 2017, he and his colleagues founded Hedera Hashgraph and held the position of CEO.
Leemon Baird – Co-founder and Chief Scientist
- He earned a bachelor’s degree in computer science in 1989 after 4 years of studying at Air Force Acadamy. In 1999 he received a doctorate in computer science from Carnegie Mellon University.
- In August 2019, he became a Senior Research Scientist at the Academy Center for Cyberspace Research, then in January 2018, he founded Hedera HashGraph and held the position of scientific director here.
- Leemon also founded Swirlds Labs with his friends and holds the position of Co-CEO and CTO at Swirlds Inc.
Tokenomics
Overview information about HBAR token
- Token name: Hedera
- Code: HBAR.
- Blockchain: Hedera Hasgraph.
- Token classification: Utility, Governance.
- Contract: Update…
- Total Supply: 50,000,000,000 HBAR.
Token Allocation
- Hedera Pre-Minted Treasury: 32.4%
- Employees: 4.4%
- SAFTS, Purchase Agreements: 17.4%
- Ecosystem Development: 24.0%
- Swirlds: 8.0%
- Founders: 13.8%
Token Release
HBAR token will be issued within 15 years.
Token Release of HBAR
Token Use Case
- Pay network and transaction fees: HBAR token is also used to pay transaction fees and reward nodes for operating the network.
- Administration: The HBAR token will be used to secure the network using a Proof-of-Stake mechanism and vote on transactions when consensus is reached.
Exchanges
Currently, Hedera’s token HBAR is traded on CEX exchanges such as Binance, Coinbase, OKX, Bybit,…
Hedera’s Information Channel
- Twitter: https://twitter.com/hedera
- Website: https://hedera.com/
- Discord:
Summary
Through the above analysis, I hope that I have clarified the issues surrounding the Hedera token (HBAR)? I believe that the information I provide will help you have a clearer view in deciding to invest in HBAR tokens.
