Types of Cryptocurrency

A Full Guide To Hedera Hashgraph (HBAR)

A Full Guide To Hedera Hashgraph (HBAR)

Many investment experts have called Hedera Hashgraph (HBAR) the “next big thing” in the cryptocurrency world. So, what is a Hedera Hashgraph? In this article, we aim to give you a full guide to Hedera Hashgraph (HBAR), including its history, how it works, and where to buy it. Introducing the Hedera Hashgraph’s full potential in the crypto world.

History of Hedera Hashgraph (HBAR)

The Hedera Hashgraph platform was founded in March 2018 by Leemon Baird, the Chief Scientist, and Mance Harmon, the CEO. The Hedera Hashgraph team is based in Richardson, Texas. Hedera Hashgraph is a distributed ledger technology (DLT) platform that uses a directed acyclic graph (DAG)

The Hedera Hashgraph platform was launched in March 2018. In September 2018, Hedera raised $124 million in its first funding round from investors including Accenture, IBM, and Deutsche Telekom.

In October 2018, Hedera released the Hedera whitepaper 2.0. This update included information on Hedera’s consensus algorithm, Hedera Consensus Service (HCS), and Hedera’s new smart contract platform, Hedera Smart Contract Language (HSC).

In December 2018, Hedera launched the Hedera Developer Portal. The portal includes documentation, tutorials, and code samples for developers who want to build applications on the Hedera Hashgraph platform.

In January 2019, Hedera released the Hedera Testnet. In March 2019, Hedera launched the Hedera mainnet. In September 2019, Hedera launched Hedera Consensus Service (HCS). In October 2019, Hedera launched Hedera Smart Contract Language (HSC).

In December 2019, Hedera launched the Hedera Token Service (HTS). In January 2020, Hedera launched the Hedera Explorer. In February 2020, Hedera launched the Hedera SDK for Java. March 2020. In September 2020, Hedera launched the Hedera SDK for Node.js.

These are the main highlights in Hedera Hashgraph’s short but eventful history. Now, let’s take a more in-depth look at how Hedera Hashgraph works.

What is Hedera Hashgraph (HBAR)

Hedera Hashgraph is a distributed ledger technology (DLT) that is said to be faster, fairer, and more secure than other DLTs such as blockchain. Hedera is being developed by the Hedera Hashgraph Council, a group of some of the world’s largest companies including IBM, Google, Boeing, and Samsung.

The Hedera Hashgraph network uses a data structure called a Directed Acyclic Graph (DAG). In a DAG, each node contains a hash of the previous node, and each edge is a cryptographic hash. This allows Hedera to achieve high throughput and low latency.

Hedera Developer Portal

Looking to get started with Hedera Hashgraph development? The Hedera Developer Portal is your one-stop shop for all things Hedera. From our comprehensive documentation to our code samples and tutorials, we’ve got everything you need to start building on Hedera.

The best feature of the developer portal is our Hedera SDKs. These SDKs allow you to interact with the Hedera network and build distributed applications quickly and easily. We currently support Java, Go, Node.js, and Python.

Hedera Testnet

The Hedera Testnet is a testing environment for Hedera applications. The testnet is live and allows developers to deploy and test their applications before going live on the Hedera mainnet.

The difference between the Hedera mainnet and testnet is that the Hedera mainnet is a live network where real transactions are processed and recorded on the Hedera ledger. The Hedera testnet is a testing environment where developers can deploy and test their applications before going live on the Hedera mainnet.

Hedera Mainnet

The Hedera mainnet is the live Hedera Hashgraph network. Applications deployed on the mainnet are live and can process real transactions. The mainnet is responsible for processing and recording transactions on the Hedera ledger.

Hedera Consensus Service (HCS)

HCS is a new consensus algorithm for the Hedera Hashgraph platform. HCS is designed to provide a higher degree of security and resilience than existing consensus algorithms. The decentralized economy needs a fast, fair, and secure way to reach a consensus. Hedera Consensus Service is that solution.

Hedera Smart Contract Language (HSC)

HSC is a new smart contract platform for the Hedera Hashgraph platform. HSC is designed to be more secure and efficient than existing smart contract platforms. Smart contracts often suffer from vulnerabilities that can lead to loss of funds. Hedera Smart Contract Language is designed to be more secure and efficient than existing smart contract platforms.

Hedera Explorer

The Hedera Explorer is a new tool for visualizing the Hedera Hashgraph platform. The Hedera Explorer allows users to see the status of the network, view transactions, and explore the Hedera Hashgraph platform.

How Hedera Hashgraph (HBAR) Works

Hedera Hashgraph is a DLT that uses a directed acyclic graph (DAG) data structure. This means that it can process transactions very quickly and is scalable. Hedera also uses something called “asynchronous Byzantine Fault Tolerance” which makes it more secure than other DLTs.

Here is a detailed guide on how to use Hedera Hashgraph:

  1. Create a Hedera Hashgraph Wallet: The first thing you need to do is create a Hedera Hashgraph wallet. There are many different wallets that you can use, but we recommend using the official Hedera Hashgraph Wallet.
  2. Fund your Wakket: Once you have created your wallet, you will need to fund it with HBAR. You can do this by sending HBAR from another Hedera Hashgraph wallet or by purchasing HBAR on an exchange.
  3. Create a Hedera Hashgraph Account: The next thing you need to do is create a Hedera Hashgraph account. You will need to provide your wallet address, your name, and your email address.
  4. Deploy a Hedera Hashgraph Smart Contract: Now that you have an account, you can deploy a Hedera Hashgraph smart contract. Hedera Hashgraph has its own smart contract language called HSC.
  5. Invoke a Hedera Hashgraph Smart Contract: Once you have deployed your smart contract, you can invoke it by sending a transaction to the Hedera Hashgraph network.

Follow these simple steps and you’ll be able to use Hedera Hashgraph in no time!

Hedera Hashgraph’s Platform

When it comes to Hedera Hashgraph’s platform, the team has taken a very different approach compared to other protocols. Instead of relying on a single general purpose blockchain, Hedera uses a Directed Acyclic Graph (DAG) data structure that can support multiple use cases with varying requirements.

The Hedera Hashgraph platform has three main components:

  1. The Hedera Consensus Service (HCS)
  2. The Hedera Platform Services (HPS)
  3. The Hedera Software Development Kit (HSDK)
Hedera Consensus Service

The Hedera Consensus Service is the foundation of the Hedera Hashgraph platform. It provides a distributed ledger service that is fast, fair, and secure. The HCS is based on the Hedera public ledger, which is a DAG data structure. The Hedera public ledger can support multiple use cases with different requirements.

Hedera Platform Services

The Hedera Platform Services provide a set of tools and services that make it easy to develop applications on top of the HCS. The HPS includes the Hedera object model, which is a set of Java classes that represent the objects in the Hedera public ledger. The HPS also includes the Hedera Query Language (HQL), which is a SQL-like language for querying the HCS.

Hedera Software Development Kit

The Hedera Software Development Kit (HSDK) is a set of tools and libraries that make it easy to develop applications on top of the Hedera Hashgraph platform. The HSDK includes the Hedera Java SDK, which is a set of Java libraries for interacting with the HCS. The HSDK also includes the Hedera Javascript SDK, which is a set of Javascript libraries for interacting with the HPS.

Among these three components, Hedera Hashgraph’s focus on providing easy application development stands out the most. Hedera provides developers with all the tools they need to develop applications on top of the HCS. The HPS and HSDK make it easy to develop applications that interact with the HCS. With these tools, developers can easily create applications that use the Hedera public ledger.

Hedera Hashgraph Use Cases

The best thing about Hedera Hashgraph is that it can be used for a wide variety of use cases. Hedera’s platform is designed to support multiple use cases with different requirements. There are many potential use cases for Hedera Hashgraph.

Some of these include:

  1. Supply chain management
  2. Identity management
  3. Healthcare data management
  4. Voting
  5. IoT data management
  6. Asset management

These are just a few examples of the many potential use cases for Hedera Hashgraph. Hedera’s platform is flexible and can be used for a wide variety of applications.

Hedera Price

HBAR tokens are now worth $0.063917 USD with a market cap of $1,347,665,506.18 and the total supply is 50B coins HBAR. The Hedera Hashgraph is positive for the future with a long-term outlook. Hedera Hashgraph could potentially become a top 10 cryptocurrency.

The enterprise grade public has an impact on different aspects of business and the economy. HBAR price can still rise in the future as Hedera Hashgraph becomes more widely adopted. The predictable fees and Hedera’s platform capabilities could make it a top choice for enterprises.

Final Say

The enterprise grade public network of Hedera Hashgraph is well-positioned for the future. The Hedera team has taken a very different approach compared to other protocols and this makes them unique so if you want to invest in Hedera Hashgraph or to buy HBAR token, always do your own research to further assess if this is a good investment for you.

Blockchain technology is evolving every day and Hedera Hashgraph is one of the most promising projects in this space.

You Might Like