What is HBAR?
Hedera Hashgraph (best known for its native token, HBAR) is coined in the crypto sphere as the ‘trust layer of the internet’ – partly due to its previously unseen blockchain capabilities and the efficiency it brings to the table.
Unlike similar altcoins, HBAR isn’t built upon a conventional blockchain, such as Ethereum or Binance Smartchain, it relies on a completely individual type of distributed ledger technology – known as Hedera Hashgraph.
Built as an innovative solution to the limitations of previous blockchain technology, the public Hedera Hashgraph network provides millions of users with the opportunity to build unprecedentedly powerful decentralized applications.
Combining both the respective programmability of Ethereum and the infrastructure of the Bitcoin blockchains, Hedera Hashgraph’s proof-of-stake open network eliminates excessive transfer fees and high bandwidth consumption, whilst also providing users with the highest grade of security possible (ABFT).
Where did HBAR Come From?
Founded by Dr. Leemon Baird and Mance Harmon, the pair collaborated to build a ‘trusted, secure, and empowered digital future for all’ with a strict ethos revolving around privacy, security, and ease for each user.
Dr. Leemon Baird’s discovery of Hashgraph technology throughout 2015-16 ignited HBAR’s mission, leading Mance Harmon to join forces with him as the pair continued to innovate the technology and its capabilities.
By providing a solution to potential drawbacks across current blockchain technology, Hashgraph technology offers investors the opportunity to have seamless and inexpensive transfers completed within seconds through their ecosystem.
With HBAR as the Hashgraph’s native token, the founders have since developed the use of this token within their technology, with investors now able to use HBAR as a means of powering the network and helping protect the network from malicious hackers.
What is the Future of HBAR?
As HBAR continues to grow in price and receive more traction from investors, the Hedera Hashgraph is set to continue developing through the contributions of its investors, users, and devs.
Through the ‘Open Source’ contribution system, any stakeholder of HBAR is able to share their opinions and help contribute to new features that will later be introduced to the Hashgraph.
Only time will tell how much more the Hedera Hashgraph can develop.