‘What is HBAR?’ is a great question. But if you’re asking that, like we were, you probably need to answer one other question beforehand – what is Hedera Hashgraph? We are assuming that you already know what cryptocurrency is or it would be a bit surprising that you were asking about HBAR in the first place (but in case we’re wrong – it’s a form of digital money).
We’ll take a quick look at what Hedera Hashgraph is before diving into looking at HBAR itself.
What is Hedera Hashgraph?
Hedera Hashgraph is a public cryptocurrency ledger which focuses on reducing energy in order to reduce costs, enabling them to perform high speed and high security transitions efficiently and affordably. Not only is this user friendly as it’s more accessible to those with less funds, it’s actually much more energy efficient and better for the planet; a huge amount of energy goes into powering the servers which host cryptocurrency.
Hedera is powered by a technology known as hashgraph, which is considered to be a faster, more secure and more efficient cryptocurrency technology than blockchain, which is the original technology underlying Ethereum and Bitcoin. Hashgraph can handle and verify millions of transactions per second. It also differs from blockchain in that it doesn’t rely on mining; instead, it uses directed graphs which base transactions on time sequencing rather than blocks.
What is HBAR?
Now that we’ve found out what Hedera Hashgraph is, we can look at HBAR – put simply, it’s their own cryptocurrency. It sets itself apart from other cryptocurrencies by protecting decentralised networks from bad actors as well as powering them, and it also offers predictably low rates. It’s highly efficient too, meaning that transactions occur and are confirmed quickly. As well as being more efficient and user friendly, HBAR is also considered to be a great long term investment as it’s expected to remain stable even in the face of adverse market conditions.
Where Can I Use It?
There are several great brokers where you can invest in HBAR and start building your digital asset portfolio today, including Binance, Gate.io and Huobi. Additionally, Fireblocks supports Hedara Hashgraph, so they’re a great place to start with your HBAR investments.
Cryptocurrency is a new world which seems pretty exclusive – but it’s just like anything else. Once you know the lingo, you can get to grips with it pretty quickly. In Sum, HBAR is a new cryptocurrency based on a ‘third-generation’ hashgraph technology which solves some of the old problems apparent with Blockchain – and it’s considered a great long term investment.