The problem with major cryptocurrencies is their transaction fee, their mining speed, and energy consumption. Platforms maybe secure but they can only be accepted by the retailers when they become easily used by them. When people start seeing use in them that is when the project becomes mainstream.
HBAR stands for Hedera Hashgraph. As in their own words “HBAR is the native energy-efficient cryptocurrency of Hedera that powers the decentralized economy. The platform allows to built secure and efficient and powerful dApps. Being backed by some of the most notable companies in the world HBAR is a feat in itself. Companies like LG, Google, Standard Bank, Boeing, TATA, IBM play an important role in governing the whole Hedera System.
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It was launched in 2018 through ICO and launched their mainnet in 2019. HBAR has two functions, it offers security to the whole HEDERA network through staking and also powers their different utilities such as file storage, contracts, and transactions.
Bitcoin and Ethereum are the two most leading blockchains in the world but they required a huge amounts of energy for simple transactions and had a huge fee. HBAR solves these problems. According to the official sources HBAR outperforms both Ethereum and Bitcoin multiple folds.
A few Key Points
- Transactions: 3+ for Btc, 12+ for Eth, 10,000+ for HBAR.
- Average Fee: $22.57 for Btc, $19.55 for Eth, $0.0001 for HBAR.
- Transaction Confirmation: 10-60 min for Btc, 10-20 sec for Eth, 3-5 sec for HBAR (with finality).
- Energy per Transaction: 885+kwh for Btc, 102+kwh for Eth, 0.00017kwh for HBAR.
HEDERA offers different features that are listed below:
- Minting of Fungible and Non fungible tokens (NFT) on the system.
- Consensus for the security of the whole Hedera system.
- Smart Contracts so the developers can build different dApps for the public.
- Proof-of-Deletion based decentralized file storage system.
Tokenomics and Current Movement
At the time of writing coin (HBAR) is being traded at a price of $0.3537 with a decrease of 2.36% in the last 24 hours. The coin had created its ATH and touched a value of almost $0.58 Before reaching this ATH, the coin previously had the top of around $0.458. On 15th and 16th September the HBAR went high and broke the level. The trading volume of HBAR has increased by 30.15% in the last 24 hours. HBAR has a total supply of 50B coins.