Hedera (HBAR)

What is Hedera Hashgraph?

Hedera Hashgraph (HBAR) is the native, energy-efficient cryptocurrency of the public Hedera network. HBAR is used to pay application transaction fees and to protect the network from attack through its proof-of-stake mechanism. HBAR has a fixed total supply of 50 billion coins and is available for purchase on several exchanges. The symbol for HBAR is a lowercase italicized HBAR (ℏ).

HBAR is used to pay fees for network services such as transferring HBAR, minting fungible and non-fungible tokens, calling smart contracts, and logging data. The Hedera proof-of-stake public network, powered by hashgraph consensus, achieves the highest-grade of security possible (ABFT), with blazing-fast transaction speeds and incredibly low bandwidth consumption. HBAR transactions achieve finality, on-ledger, within three to five seconds. The network achieves 10,000 HBAR cryptocurrency transactions per second, with transaction fees of around $0.0001 USD. Staking HBAR to a Hedera network node can earn a maximum of 6.5% APY and will maintain the security of Hedera’s network operations.

Who Created Hedera Hashgraph?

Hedera Hashgraph was created by a team of technology and finance experts led by co-founders Dr. Leemon Baird and Mance Harmon. As of May 1, 2022, they have transitioned to Swirlds Labs, a newly established entity partially owned by Swirlds, where they will continue to participate in the Hedera ecosystem as Swirlds’ representatives to the Hedera Governing Council. Dr. Baird is an award-winning cryptographer and computer scientist who co-founded the company Swirlds in 2015 to commercialize Hashgraph, the consensus algorithm at the heart of the Hedera network. Mance Harmon is a serial entrepreneur, engineer, and technologist who has held C-level and executive positions at various technology companies. Together, they have over 40 years of combined experience in technology, finance, and cryptography.