Review on Hedera Hashgraph by David Olayide

Name: Hedera Hashgraph
Item: Hedera Hashgraph
Rating: 4

March 10, 2021

THE HEDERA HASHGRAPH PROJECT.

Hedera Hashgraphis a public network that allows both individuals and business corporations to create powerful decentralized applications (Dapps). The project was actually designed to be a more efficient system that removes some of the limitations and problems that older and existing blockchain-based platforms face such as slow performance and instability.  The project, first launched open access to its mainnet in September 2019.

The HBAR utility token which is native to the Hedera platform, is what fuels and powers Hedera services, such as smart contracts, file storage and regular transactions. The token had many used and, it is used to help secure the network, since HBAR users can stake their tokens to assist with maintaining the integrity of the platform. The most interesting part of this project for me, is that it isn’t built on a regular Blockchain just like other projects. Rather it is based on a distributed ledger technology called Hashgraph.

By making use of this technology, the project offers much more faster transactions, lesser costs and higher scalability. Hedera transactions have an average transaction fee of just $0.0001 USD and is typically finalized in under five seconds. Hedera Hashgraph also claims to be able to handle more than 10,000 transactions per second TPS.

The HBAR token has a maximum total supply of 50 billion tokens. Out of this, almost seven billion were in circulation. HBAR can be found on several popularly used exchange platforms, the liked of which include Binance, Bittrex and Huobi Global. I like the initiative that the developers of the project have taken to bring to life, the most important and attractive features of the project. If you visit the official website for Hedera you will not be disappointed.

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Pros