What is Hedera (HBAR)? Everything you need to know about HBAR Token

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Metaglobal

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I. What is Hedera (HBAR)?​

Hedera Hashgraph is a cryptocurrency network seeking to serve as a platform on which anyone can transact and deploy applications, but where a group of businesses oversee the software. The founders of Hedera Hashgraph are L.Baird and M.Harmon. They both hold licenses to the Hashgraph patents. Hedera is owned and controlled by a council of global companies who invested in it.

Toward this goal, Hedera (HBAR) makes notable design trade-offs differentiating it from other platforms. For example, the network supports high transaction speeds for its HBAR cryptocurrency, but allows only approved nodes to participate in determining transaction history.

HBAR is the native, energy-efficient cryptocurrency of the Hedera public network. HBAR is used to power decentralized applications and protect the network from malicious actors. It is also used as a means to lower the fee and customize transactions as per the users’ wishes.


II. Hedera (HBAR)s Use Cases​

Hedera (HBAR) network must provide public utility for its network to be secure. As the number of applications, assets, and transactions grows, the Hedera network becomes an integral piece of digital infrastructure, on which the world relies. Providing utility ensures the network's protection by making it even more difficult and expensive to centralize ownership of the native cryptocurrency, HBAR, preventing the consolidation of voting power for network transactions.

Applications that utilize Hedera (HBAR)’s network services are a critical aspect of Hedera’s utility — anyone from a single developer, to a startup, to a Fortune 500 enterprise can create an account anonymously and deploy a Hedera-powered application to the mainnet across a variety of use cases found below.
  • Payments: Enable secure, instant, and cost-effective peer-to-peer payments with Hedera (HBAR), stablecoins, or your own token.​
  • Content Authenticity: Manage and make publicly verifiable the authenticity of sensitive documents and other media.​
  • CBDC: Architect central bank digital currencies (CBDCs) for national or international remittance.​
  • Audit Log: Inexpensively create a publicly auditable log of data, including payable events, IoT sensor data, and more.​
  • Decentralized Finance: Remove costly intermediaries and build financial markets, lending protocols, oracles, and more with Solidity-based smart contracts.​
  • Decentralized Identity: Manage decentralized identity through a secure, standards-based, and privacy-respecting manner.​
  • NFTs: Build NFT marketplaces that mint and issue unique tokens representing digital media, physical assets, and more.​
  • Permissioned Blockchain: Make private transactions on permissioned blockchains, such as Hyperledger Fabric or Corda, publicly verifiable.​
  • Interoperability: Build an interoperable bridge spanning public and private networks. Transact value, data, and identity.​

III. Is Hedera (HBAR) a good investment?​

Hedera (HBAR)'s ecosystem currently has over 60 initial ecosystem partners, but most of these organizations have a non-blockchain core business. As such, the potential of the project will depend on whether these businesses can allocate resources to focus on developing the blockchain sector and when to bring these products to their customers.



With many Layer 1 Blockchains being released recently, competition for market share is inevitable. However, the enterprise segment still lacks many platforms to engage in this area, therefore Hedera will have the advantage of being a leader for future developments.
Disclaimer: The cryptocurrency market is quite risky, please consider carefully before your investment decisions.​

Conclusion​

We hope that the detailed information provided above about Hedera (HBAR) will greatly assist you in deciding whether or not to invest in Hedera (HBAR). If you have any questions related to this article, feel free to comment in the section down below!
 

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