What is Hedera? Hedera (HBAR) is a public blockchain network that enables enterprise businesses and individual users to produce decentralized applications (dApps). In this article, you can access answers to frequently asked questions such as what Hedera is, what it offers, what is HBAR coin, how to get it, what is it used for. As Kriptokoin.com, we have compiled it for you. Let’s examine the project together.
What is Hedera?
Launched in September 2019, Hedera is a Blockchain project that allows anyone to build blockchain-based decentralized applications. The project operates as a public blockchain network and has a native cryptocurrency called HBAR coin. The project, which describes itself as the “trust layer of the internet”, aims to solve the problems faced by underperforming blockchains in the field of dApp development.
The project uses a new distributed ledger called Hashgraph instead of traditional blockchain technology to solve the above mentioned problems. Hashgraph technology offers high speed to the network as well as low costs to users. Transactions performed within the network; It happens in less than 5 seconds with a small transaction fee of $0.0001. In addition, the network can perform over 10 thousand transactions per second.
Hedera network aims to create a platform where everyone can create dApps, including new individual users for dApp development. For this, the platform provides smart contract tools to dApp developers. In addition, users can issue tokens and NFTs on the network quite simply. In addition to dApp and token development products, the project also offers products such as data exchange protocol and decentralized data storage.
What is HBAR coin? What is it used for?
The initial token offering (ICO) was held in the summer of 2018. The HBAR coin is the native cryptocurrency of the Hedera blockchain. The maximum supply of the altcoin is capped at 50 billion units. HBAR, one of the popular altcoins among investors, has two main roles in the network. First of all, HBAR coin acts as fuel for transactions such as smart contract, file storage offered by the blockchain. Secondly, HBAR is used for staking.
This means users can stake their assets to protect the integrity of the platform. Users who lock their assets to the platform for a certain maturity can earn passive income by receiving additional HBAR rewards at the end of maturity. At the time of writing, HBAR coin had a market cap of around $3.92 billion and was the 35th largest cryptocurrency. In addition, 19.5 billion HBARs were in circulation, corresponding to 39% of the altcoin’s maximum supply.
How to get HBAR coin?
HBAR coin is supported by many crypto exchanges with large trading volume. Exchanges that list the altcoin include Binance, OKX, Crypto.com, KuCoin, and Bybit. Investors interested in the Hedera project can purchase the altcoin by signing up for one of these exchanges and depositing money in their wallets.
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