In the blockchain field, many projects have attracted attention with their unique technological innovations, and Hedera Hashgraph and its token $HBAR have become leaders with their refreshing positioning. It not only challenges the efficiency issues of traditional blockchains but also attempts to redefine distributed networks. Let's explore the story behind HBAR and Hedera together.
The starting point: The birth of Hashgraph technology
Hedera's core technology—Hashgraph—is not an ordinary blockchain, but a brand new distributed ledger technology. It was invented by Dr. Leemon Baird, a computer scientist and mathematician. When Baird proposed Hashgraph in 2016, his goal was to solve the performance bottlenecks of traditional blockchain, particularly in speed, energy consumption, and security. The block-by-block transaction packaging of traditional blockchain is time-consuming and resource-intensive, while Hashgraph uses a Directed Acyclic Graph (DAG) structure, rapidly synchronizing network states through a 'Gossip about Gossip' method.
This technology does not exist in a chain form but utilizes mathematical probability models, enhancing transaction verification speed to an extraordinary hundreds of thousands per second while maintaining security and decentralization.
The founding and vision of Hedera
In 2018, Baird and technology entrepreneur Mance Harmon co-founded Hedera Hashgraph. Their vision was clear: to establish a 'fair, secure, and efficient' distributed network, allowing businesses and developers to develop decentralized applications (dApps) at low cost and high efficiency.
To achieve decentralized governance, Hedera created a 'Governing Council', attracting globally renowned companies such as Google, IBM, LG, and Boeing to join, ensuring the transparency and credibility of the network.
The mission of HBAR: More than just a medium of exchange
$HBAR, as the native token of the Hedera network, serves multiple functions:
Transaction Gas: $HBAR is used to pay transaction fees on the network, with its efficiency making the cost of each transaction as low as $0.0001, which is particularly attractive in an era of high gas fees.
Network protection: HBAR provides security assurance for the network through staking, preventing malicious attacks.
Ecosystem support: The widespread application of HBAR has also promoted the development of emerging fields such as DeFi and NFTs, providing more possibilities for developers.
$HBAR is not just 'fuel' on the network; it is also a tool that empowers the distributed economy.
The performance of HBAR and its recent popularity
Since 2023, HBAR has gradually attracted more attention, especially in the context of multi-national policies promoting green technology. Due to the low energy consumption characteristics of Hashgraph, Hedera has become one of the platforms favored by environmentalists. At the same time, its collaborations with companies like Google and ServiceNow have injected a trustworthy brand image into the network.
Recently, as multiple companies adopted Hedera technology for supply chain tracking and carbon credit trading, the market demand for $HBAR has surged. In November, the price of $HBAR saw a significant increase, partly due to market expectations for the potential real-world applications of distributed ledger technology.
The vibrant significance of HBAR
The story of Hedera and HBAR is not limited to technology; it is more like an experiment about the future digital world. Through Hashgraph technology, Hedera has not only redefined efficiency but is also attempting to break the limitations of traditional distributed systems, providing better tools for businesses and users.
The rise of HBAR also proves a fact: in the world of distributed networks, both technology and vision are equally important. For those looking to explore new models of the digital economy, HBAR may be an existence that cannot be ignored. The future of Hedera will continue to find a balance between efficiency and security, bringing more breakthroughs to the blockchain industry.
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