Hedera Hashgraph is a decentralized public ledger that aims to provide fast and secure transactions, as well as support for dApps (decentralized applications) moreHedera Hashgraph is a decentralized public ledger that aims to provide fast and secure transactions, as well as support for dApps (decentralized applications). The platform utilizes a unique consensus algorithm called gossip about gossip, which allowed it to achieve fast transaction times and enhanced security. The HBAR token is a utility token used to pay for transactions on Hedera's network and grants access to the platform's services.
One of the significant benefits of Hedera's network is its scalability. According to the project's website, the network can process up to 10,000 transactions per second, which is significantly higher than many other blockchain-based networks. High throughput is especially critical for enterprise applications that require fast and reliable transaction processing.
Hedera's network also provides a robust set of services that allow developers to create dApps with ease. These services include file storage, smart contracts, and cryptocurrency exchanges. Hedera also offers a decentralized ID service, which allows users to have control over their data and identity.
Another benefit of Hedera is its commitment to security. The platform has passed multiple security audits, making it one of the most secure blockchain-based networks currently available. Additionally, Hedera is developed under an open-source license, meaning its code is transparent, and anyone can review it.
Finally, Hedera is focused on being environmentally friendly by utilizing a proof-of-stake consensus algorithm, which significantly reduces the energy required for transaction processing compared to other blockchain networks.
Overall, Hedera aims to provide a fast, secure, and scalable platform for developing and deploying dApps on its network. The HBAR token is an essential component of the ecosystem, serving as the fuel for transactions and access to Hedera's services. (AI generated summary)
High number of transactions per second
Very low fees
Directed-acyclic-graph (DAG) instead of blockchain
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