HBAR Surge: Insights and analysis of Hedera by Mudrex expert
«Coin of the Week» is a featured series highlighting the week's top-performing cryptocurrency. This article offers a comprehensive 360-degree analysis encompassing fundamental, technical, sentimental, and on-chain perspectives. Join us as we explore the intricacies of this standout coin and explore its multifaceted performance. Let's dive in.
Hedera Hashgraph — An Overview
Launched in 2019, Hedera is an enterprise-grade decentralized network that aims to empower robust DApp development while addressing the limitations of older blockchain platforms, such as speed and instability. It is overseen by a global council that includes renowned entities such as Google, IBM, LG Electronics, and Boeing.
Hedera's consensus mechanism, the Hedera Consensus Service (HCS) uses a hash graph data structure and gossip protocol, which makes it fundamentally different from the other coins like Bitcoin (proof-of-work), Ethereum (proof-of-work transitioning to proof-of-stake), and Solana (proof-of-history). This makes it incredibly fast, energy-efficient, and secure, with guaranteed fairness in transaction ordering.
HBAR, Hedera's native cryptocurrency, serves a dual role—powering network services and ensuring platform security through staking. As such, HBAR plays a vital role in its operation, setting it apart from traditional blockchains with its emphasis on speed, efficiency, and security.
