Modified on: Fri, 22 Sep, 2023 at 2:19 PM
HBAR is the native token of the Hedera Hashgraph network, a blockchain alternative built on top of Hashgraph technology, that offers several benefits over the conventional blockchain data structure, such as faster transactions, minimal latency, and cheaper transaction fees. Hedera utilizes its innovative gossip-about-gossip protocol to send information between network nodes using a directed acyclic graph (DAG) data structure in conjunction with a proof-of-stake consensus mechanism that empowers enterprise-grade security across the network. This enables Hedera to achieve transaction speeds up to 10,000 TPS with minimal latency and a fixed transaction fee at $0.0001 regardless of network usage or demand. Hedera Hashgraph is overseen by a governing council comprised of 39 industry leaders, including Google, Boeing, IBM, LG Electronics, Deutsche Telekom, and more. HBAR token is used to power decentralized applications on the network, make payments, and secure Hedera’s proof-of-stake network.
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