What is Hedera (HBAR)?

Hedera (HBAR) is a decentralised public network that aims to give dApp developers a quick, safe, and scalable platform. Hedera aims to be a flexible platform for a variety of applications with its distinct consensus algorithm, governance model, and emphasis on security.

The History of Hedera

The Hashgraph consensus algorithm, created by Leemon Baird, serves as the foundation for Hedera, which was founded in 2018 by Mance Harmon and Baird. Hedera Hashgraph uses a directed acyclic graph (DAG) structure rather than a conventional linear blockchain in order to address the drawbacks of traditional blockchains, such as scalability, security, and energy efficiency.

The Use Case of Hedera

Hedera aims to be a general-purpose platform for creating decentralised apps (dApps) that can be used in a variety of applications, such as social media, supply chain management, gaming, and finance. With the ability to process thousands of transactions per second (TPS), its consensus algorithm enables quick and secure transactions. Hedera offers developers the ability to create decentralised applications with programmable logic by offering smart contract functionality.

Hedera's emphasis on security and governance is one of its primary characteristics. The Hedera Governing Council, which is made up of a diverse group of international organisations from various industries, is in charge of overseeing Hedera. This governance structure aims to give the network stability and security, as well as decentralisation and fairness in decision-making.