What is Hedera Hashgraph (HBAR)?

Hedera Hashgraph (HBAR) is a crypto network that allows interested individuals to create and deploy cryptocurrency applications. Many developers love this virtual network since its network services allow them to build computation trust into their software.

Unlike conventional cryptocurrency networks, however, the Hedera Hashgraph network is overseen by a group of business owners. Hedera is a public ledger that uses the hashgraph algorithm instead of the traditional blockchain.

This supposedly makes it faster and more energy efficient than most digital coins. It’s also believed to be more secure than Bitcoin’s proof-of-work consensus.

Who Created Hedera Hashgraph (HBAR)?

Hedera Hashgraph (HBAR) was created by technology executive Mance Harmon and computer scientist Leemon Baird. Leemon Baird and Mance Harmon came together to establish the decentralized application building platform, Swirlds, in 2015.

Swirlds released Hedera in August 2018, before it was ultimately renamed Hedera Hashgraph. Hedera launched as a private crypto network that’ll become public once enough people join the network.

Mance Harmon is an experienced technology entrepreneur with decades of experience in the Information Technology industry. Leemon Baird, on the other hand, is an experienced computer scientist and a former senior research scientist from Cyberspace Research.

How Does Hedera Hashgraph (HBAR) Work?

The Hedera Hashgraph works through its unique hashgraph algorithm. The hashgraph is a network where all nodes are in constant communication with each other. This network was for private use before being released to the public as the Hedera Hashgraph (HBAR).

Two types of nodes manage this hashgraph mechanism. These nodes ensure that all computers in the distributed network agree on transaction history. These two nodes are:

• The Mirror Node
• The Consensus Node

All consensus nodes determine transaction history and the order of transactions on the network. On the other hand, the mirror nodes convey this information to all stakeholders.

Hedera Hashgraph uses a small number of nodes to verify a transaction. This helps to prevent those transactions from becoming undone in the future.

The Hedera Governing Council manages the Hedera Hashgraph and all consensus nodes. Currently, there are just about 39 members on this council, some of whom include Boeing, Google, and IBM. Council members serve 3-year terms for their tenures, with a maximum of two 3-year terms.

Is Hedera Hashgraph (HBAR) A Good Investment?

Hedera Hashgraph (HBAR) is the solution many crypto businesses have been waiting for. It allows them to deploy powerful dApps, offers faster transactions, and eliminates many issues blockchains face.

Although Hedera brings a lot of advantages to the table, its native apps are only used on its network. Its governing system (although not run by one person) isn’t fully decentralized like other cryptocurrencies. However, it’s believed that this network will become completely decentralized soon.

You’ll see that Hedera Hashgraph is a good investment if you’re comfortable with these minor drawbacks. The advantages it offers to big businesses are that many companies like Google are interested in it.

You can acquire Hedera Hashgraph on cryptocurrency exchanges like Cointelegraph and Coinbase.