Hedera Hashgraph is a blockchain platform with Distributed Ledger Technology (DLT), which allows anyone to interact and transact online efficiently and securely without the need to go through an entity. any intermediary.
Different from the most commonly used blockchains , Hedera Hashgraph uses a new consensus algorithm called Hashgraph. This consensus algorithm gives Hedera Hashgraph smoother and faster transaction processing at a larger scale than traditional Proof-of-Work (PoW) algorithms.
Besides, Hedera Hashgraph was created with the goal of providing a stable, reliable network serving a variety of decentralized financial applications, enterprises, rather than simply providing a currency. coding for speculation.
With the above goal in mind, Hedera Hashgraph is shaping up to be a platform that can support projects with high volume usage needs, such as macro payments, data integrity, and encryption. The network also supports a virtual machine that can compile smart contracts written in Solidity, similar to an EVM.
However, like all public DLT networks, Hedera Hashgraph needs a cryptocurrency to raise capital through Private Sale or Seed Sale rounds to keep the network running.
And HBAR is the native cryptocurrency of Hedera Hashgraph, used to grant decentralized applications access to the network. At the same time, HBAR is also used to build peer-to-peer transaction models and protect the Hedera Hashgraph network from malicious actors on the chain.
Developers and businesses can use Hedera Hashgraph's services to launch decentralized financial applications. Hedera Hashgraph supports a wide range of other services such as music streaming, pharmaceutical supply chain management or online multiplayer games.
Hedera Hashgraph has the following highlights:
Firstly, Hedera Hashgraph's Token Service allows developers to easily configure and mint both fungible and non-fungible (NFT) tokens on the platform with just a few lines of code.
Second, Hedera Hashgraph's Consensus Service acts as a trusted layer, allowing any application or network to securely and verifiably store event information.
Third, smart contracts allow developers to launch powerful and efficient decentralized financial applications.
Finally, a decentralized data file storage service with features including Proof-of-Deletion, the ability to change file expiration times, and more.
The Hashgraph algorithm allows to improve the processing speed, reduce transaction costs and scalability of the blockchain. Transactions on Hedera Hashgraph have an average cost of just US$0.0001 and are typically successfully processed in less than 5 seconds. Overall, Hedera Hashgraph claims it can process over 10,000 transactions per second (TPS) and is much faster than today's popular PoW-based blockchains.
The network is governed by the Hedera Hashgraph Board of Directors, which is made up of leading global organizations in various fields. The main responsibility of the council members is to participate in the management, storage and maintenance of Nodes on the Hedera Hashgraph network.
At the same time, members will contribute their expertise and experience to the Council's discussions and decision-making regarding software updates, Hedera Hashgraph treasury management, network valuation, and other related services. other important management issues.
Hashgraph Exchange is the only decentralized exchange on Hedera Hashgraph and is still in the development stage to complete, so it has not been officially launched. Key features on Hashgraph Exchange include trading, token creation and NFT…
Hedera Hashgraph intends to be a platform that can support high-volume transactions, such as macro payments. Thus, decentralized financial applications on Hedera Hashgraph are created to serve companies and corporations around the world.
Therefore, there are quite a few projects on Hedera Hashgraph dealing with the payment field, typically the following projects:
Kpay : In addition to the payment field, the project also issues stablecoins such as KUSD, KGBP, KEUR, KCAD, KAUD.
Dropp : This is an application that allows payment in HBAR or other cryptocurrencies.
Yamgo : This platform allows users to earn money through small activities such as viewing ads, taking surveys, etc.
MobiFi : An application that provides payment services in cryptocurrencies specifically for phones.
Although, the NFT array on the Hedera Hashgraph ecosystem is quite new, but the project does a lot on this array:
GoMint : The leading NFT Marketplace on the Hedera Hashgraph ecosystem, with over 1,000 NFTs and the asset value on the platform has reached US$37,000.
Hashplanet : An NFT project on Hedera Hashgraph and currently unproductive.
Hashgraph Card, Gems Cards, Hash Horses, HGraph Punks : These are the names of the NFT array on the Hedera Hashgraph ecosystem.
Thereby, it can be seen that the number of NFT projects developed on this platform is quite large. But most of them are small projects that have not yet resonated and are mainly inspired by Ethereum .
Regarding block explorers, the platform has a lot of Explorers running smoothly, ensuring the transparency of this blockchain. Some of the projects that can be mentioned are: Dragonglass Explorer, Hash-hash.info, TrustExplorer…
About blockchain-enabled wallets Hedera Hashgraph and HBAR tokens include: My HBAR Wallet, Ivy Wallet, Xact Wallet, Guarda Wallet, Coinomi Wallet, Exodus Wallet, Dropp Wallet...
Regarding the Oracle segment, serving the development of DeFi in the Hedera Hashgraph ecosystem includes Chainlink – this is also one of the board members of Hedera Hashgraph. Therefore, Chainlink will provide Oracle services for applications in this ecosystem.
The Infrastructure array on the Hedera Hashgraph ecosystem is already relatively complete. This will create a solid premise for the development of the upper layers of this ecosystem.
In the Hedera Hashgraph ecosystem, there are many projects working on practical applications such as healthcare, there are about 3 projects. In addition, there are more than 20 projects working on technology solutions such as data storage, API collection, identity data, etc.
It can be seen that this project does not focus on DeFi segments such as the ecosystems that are receiving a lot of attention in the cryptocurrency market such as Solana , Avalanche , Arbitrum ... The developers are paying attention. pay more attention to creating projects that can be applied to daily life as well as meet the needs of large companies and enterprises in the world.
Through the analysis of the puzzle pieces in the Hedera Hashgraph ecosystem, it can be seen that the platform has a lot of DApps as well as attracted the attention of many application developers.
However, projects in DeFi are limited by Hedera Hashgraph's original goal of creating a viable and practical platform.
In addition, the Hedera Hashgraph ecosystem is managed by units that are large companies and corporations. These entities need practical applications to support their business growth, such as payment solutions, data technology, identity recognition, etc. Therefore, the development of DeFi is not focused on by Hedera Hashgraph.
In addition, in recent times, ecosystems have continuously launched stimulus packages to develop projects within the ecosystem. These stimulus packages will have the effect of attracting more developers and users to participate in the ecosystems.
Hedera Hashgraph is no exception, this network has launched a huge stimulus package of up to 5 billion USD to use to develop projects within its ecosystem.
Hedera Hashgraph Development Team
Leemon Baird, Co-Founder & Chief Scientist of Hedera Hashgraph: Dr. Leemon Baird is credited as the developer of the Hashgraph consensus algorithm and currently serves as the principal scientist of Hedera Hashgraph. Before founding Hedera Hashgraph, he accumulated more than 10 years of experience in the fields of security and computer science. Additionally, he served as a senior research scientist at Cyberspace Research's Academy Center. He also holds the position of Co-Founder and CTO at Swirlds – a platform for building DApps.
Mance Harmon, CEO of Hedera Hashgraph: Mance Harmon is also a seasoned tech executive and entrepreneur. He has about 20 years of experience holding executive roles at many well-known companies in the IT security industry. Like Dr. Leemon Baird, Mance Harmon also holds the position of co-founder and CEO of Swirlds.
Investor of Hedera Hashgraph
According to Crunchbase's statistics, the total amount of money Hedera has raised after 9 rounds of funding is 127.8 million USD with nearly 30 investment companies. In which, prominent in the cryptocurrency market are Multicoin Capital, Blockchain Ventures, Blockwall Capital, CMCC Global ... along with leading corporations in the world in many fields such as Boeing, IBM...
HBAR is the native token of the Hedera Hashgraph network with certain functions such as:
HBAR is now listed on most major exchanges such as Binance, KuCoin, Huobi Global, Gate.io, Bitstamp, OKEx…
Hedera Hashgraph is still in the early stages and it will take a long time to achieve the goals set out by the project. The main priorities of Hedera Hashgraph at the moment are:
Above is the entire information of the Hedera Hashgraph ecosystem and the HBAR coin. Hedera Hashgraph is gradually realizing its original goal of bringing projects built on blockchain technology that can be put into practice. In general, the Hedera Hashgraph ecosystem also has many projects that can be applied to daily life. Not stopping with the successes that Hedera Hashgraph has achieved, the project wants to expand the size of the ecosystem, so it has launched a development stimulus package with a value of up to 5 billion USD.
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