Bittime - Hedera Hashgraph is not an ordinary blockchain! Learn about Hashgraph technology, HBAR tokens, and the advantages and disadvantages of Hedera in this article!
Hedera Hashgraph comes with a different approach to the world of crypto. This blockchain claims to overcome many of the shortcomings of traditional blockchain systems.
Built with technology Directed Acyclic Graph (DAG), Hedera is not a typical blockchain, although it is often compared to such platforms Ethereum And Bitcoin. So, what makes Hedera Hashgraph so special?
In this article, we will discuss in depth what Hedera Hashgraph is, how it works, and its advantages and disadvantages.
What is Hedera Hashgraph?
Hedera Hashgraph is a network distributed ledger technology (DLT) which offers an innovative alternative to blockchain. In contrast to blockchain which uses a sequentially connected data block structure, Hedera uses hashgraph.
Hashgraph is a consensus algorithm that allows data to be processed more efficiently. With this approach, Hedera promises higher transaction speeds and lower fees than traditional blockchains.
However, for the end user, this difference is not always noticeable. You can still access dApps, interact with NFT, and carry out transactions using Hedera just like on other blockchains.
This platform is also compatible with Ethereum Virtual Machine (EVM), so for those who are already familiar with Ethereum, they can easily adapt to Hedera.
Read also: Hedera Hashgraph Holds HederaCon 2025 Conference, Here's the Leak!
How Does Hedera Hashgraph Work?
Source: DAILYCOIN
Hedera Hashgraph uses hashgraph consensus algorithm, which is claimed to be faster, more secure, and efficient compared to traditional blockchain. On a blockchain, transactions are arranged in a sequence of interrelated blocks.
However, deep Directed Acyclic Graph (DAG), the data can refer to transactions from any block in the chain. This allows for faster transaction verification, as information can be verified and agreed upon in less time.
Hedera makes use of what is referred to as "gossip about gossip protocol." This protocol helps ensure transactions are recorded in real-time and provides faster consensus.
Every node in the Hedera network shares information with each other, which ensures that every transaction is recorded accurately. This process is also equipped with a mechanism Proof of Stake (PoS) which involves staking HBAR to maintain network security and validate transactions.
Read also: Carbon Negative Hedera Hashgraph (HBAR): Evidence and Comparison with Other Blockchains
What is HBAR Token?
Source: DAILYCOIN
HBAR is the native cryptocurrency of Hedera Hashgraph which are used for various purposes within the Hedera ecosystem. These tokens serve as transaction fees in the Hedera network and are used to validate network consensus.
Every transaction on Hedera incurs very low fees—only approx $0,0001 per transaction—regardless of the level of congestion on the network or the HBAR price.
Apart from that, HBAR is also used as currency in transactions non-fungible tokens (NFTs) which is on the Hedera network.
With very fast performance, capable of processing more than 10,000 transactions per second, HBAR offers much higher speeds than blockchains such as Ethereum, which can only handle about 20 transactions per second.
Hedera Governing Council
One of the unique features of Hedera Hashgraph is Hedera Governing Council (Hedera Leadership Council). This leadership board consists of: 39 leading global companies, including IBM, Google, And Boeing.
This board is responsible for overseeing the development and stability of the Hedera network, as well as ensuring that it remains decentralized.
However, this also raises questions about the extent of Hedera's decentralization. For example, only board members can operate validator nodes on the Hedera network, which can be considered a form of centralization.
However, Hedera promises to introduce more open participation in the future as it grows.
History and Founder of Hedera Hashgraph
Hedera Hashgraph was first launched in 2018 by two co-founders, Lemon Baird And Mance Harmon. Before founding Hedera, Baird and Harmon had already founded the company Swirlds in the year of 2015, which is the main developer of the technology hashgraph itself.
The hashgraph technology they created has a patent and is the basis of success Hedera Hashgraph. Swirlds is also a key player in the Hedera ecosystem, with a key role in maintaining control over the hashgraph code and implementation.
Read also: $HBAR 2025 Price Technical Analysis: Bullrun Signal or Endless Downtrend?
Advantages and Disadvantages of Hedera Hashgraph
Each technology certainly has advantages and disadvantages. Here are some points to consider when looking Hedera Hashgraph:
Advantages:
1. Speed: Hedera can process up to 10,000 transactions per second, much higher than traditional blockchains such as Ethereum.
2. Cheap Transaction Fees: Transaction fees are very low, only approx $0.0001 per transaction, regardless of network congestion.
3. Energy Efficiency: Compared to blockchains such as Bitcoin and Ethereum, Hedera is more efficient in energy use and even implements initiatives to become carbon-negative.
4. Scalability: With its more efficient design, Hedera can support more users without experiencing performance degradation.
5. EVM Compatible: Ethereum developers can easily move their applications to Hedera without much hassle.
Disadvantages:
1. Limited Decentralization: Presence Hedera Governing Council regulating who can operate validator nodes on the network can reduce decentralization.
2. An Ecosystem Still Evolving: Although Hedera is in a strong market position, its ecosystem is still limited with only a few decentralized applications (dApps) built on top of it.
3. Lack of Popularity: Compared to other major blockchains, Hedera has not seen as much adoption Ethereum or Bitcoin.
Conclusion
Hedera Hashgraph offers an innovative solution with hashgraph technology that could be the future of distributed ledger technology (DLT).
With its high speed, low transaction fees, and energy efficiency, Hedera has the potential to bring major changes to the blockchain industry.
However, as with any new technology, there are still challenges to overcome before it can achieve wider adoption.
FAQ Tentang Hedera Hashgraph
What is Hedera Hashgraph?
Hedera Hashgraph is a network distributed ledger technology (DLT) which uses algorithms hashgraph to provide higher transaction speeds and lower fees than traditional blockchains.
What is HBAR?
HBAR is the native token of the Hedera Hashgraph network which is used to pay transaction fees and secure the network through mechanisms Proof of Stake (PoS).
Who founded Hedera Hashgraph?
Hedera Hashgraph was founded by Lemon Baird And Mance Harmon in 2018, after they expanded hashgraph through their company, Swirlds.
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Reference
DAILYCOIN, Hedera Hashgraph (HBAR): The Hedera Network Isn’t a Traditional Blockchain, accessed December 24, 2024.
ivy Hedera.com, accessed December 24, 2024.
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