Hedera is a public distributed ledger technology (DLT) network on which developers can build assets and decentralized applications (DApps). The smart contract-capable Hedera network uses its own consensus algorithm called “hashgraph.” Its main coin is HBAR.
Hedera, hashgraph and HBAR: A closer look
What is Hedera (HBAR), and how does it work? The crypto industry includes many mainnet blockchains upon which developers can build solutions. Blockchains are a type of DLT, although not all DLT networks are blockchains. Hedera, for example, is a DLT network but not a blockchain.
Hedera is a public DLT network that uses its own consensus algorithm, known as hashgraph, that relies on proof-of-stake (PoS) and asynchronous Byzantine fault tolerant (aBFT) technology. Speed, security and low fees are notably important to Hedera, which claims that its DLT network is one of the fastest available. The project touts its Hedera network as the next level of public ledger technology, following generations one and two — the Bitcoin and Ethereum blockchains, respectively.
Nodes staking HBAR maintain consensus for the Hedera network, with the Hedera Global Governing Council in charge of governance. The council consists of a global basket of organizations from multiple industries, and members are limited in the time they can serve. However, Swirlds Inc. — the council’s founding member that built the hashgraph technology — is an exception to the rule and can serve indefinitely.
The HBAR crypto asset
HBAR is the native crypto asset of the Hedera network. What is HBAR used for? Among its uses, HBAR is the way to pay for activity on the Hedera network. HBAR has a maximum supply of 50 billion coins. For the Hedera coin price in U.S. dollars (USD), see the top of the page above the HBAR price chart, which shows the HBAR to USD live price.