Hedera Hashgraph

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What Is Hedera Hashgraph (HBAR)?

nBilled as the “trust layer of the internet,” Hedera Hashgraph is a public network that allows individuals and businesses to create powerful decentralized applications (DApps).
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nIt is designed to be a fairer, more efficient system that eliminates some of the limitations that older blockchain-based platforms face — such as slow performance and instability.
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nIt was funded through an initial coin offering (ICO) in August 2018 and first launched open access to its mainnet just over a year later in September 2019. As part of the ICO, investors were able to purchase the platform’s native utility token (HBAR) at the lowest possible pricing.
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nThe HBAR token has a dual role within the Hedera public network.
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nFirst and foremost, HBAR the fuel that powers Hedera services, such as smart contracts, file storage and regular transactions. Second, it’s used to help secure the network, since HBAR users can stake their tokens to assist with maintaining the integrity of the platform.

Description

Who Are the Founders of Hedera Hashgraph?

nHedera Hashgraph has two founders: Dr. Leemon Baird and Mance Harmon.
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nDr. Leemon Baird is credited as the investor of the hashgraph distributed consensus algorithm and currently works as Hedera’s chief scientist.
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nPrior to founding Hedera Hashgraph, Baird accumulated more than a decade of experience in various computer science and security roles and previously worked as a senior research scientist at the Academy Center by Cyberspace Research. He also holds the position of co-founder and CTO at Swirlds Inc., a platform for building DApps.
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nOn the other hand, Mance Harmon is Hedera’s CEO and an experienced technology executive and seasoned entrepreneur. Harmon has around two decades of experience holding executive roles at prominent firms — many of which are in the IT security industry. Like Dr. Leemon Baird, Mance Harmon also holds a second position at Swirlds Inc., as its co-founder and CEO.
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nIn addition to the founders, the Hedera leadership team also comprises more than a dozen individuals, many of which have had distinguished careers.
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What Makes Hedera Hashgraph Unique?

nUnlike most other cryptocurrency platforms, Hedera Hashgraph isn’t built on top of a conventional blockchain. Instead, it introduces a completely novel type of distributed ledger technology known as a Hashgraph.
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nThis technology allows it to improve upon many blockchain-based alternatives in several key areas, including speed, cost, and scalability. Hedera transactions have an average transaction fee of just $0.0001 USD and typically reach finality in under five seconds. Overall, Hedera Hashgraph claims it can handle more than 10,000 transactions per second (TPS) — compared to the around 5-20 for most popular proof-of-work (PoW)-based blockchains.
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nThe platform offers several major network services. These include:
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    • A token service that allows users to easily configure and mint both fungible and non-fungible tokens (NFTs) on Hedera with just a few lines of code.

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    • consensus service that acts as a layer of trust for any application or network that needs a secure, verifiable log of events.

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    • Smart contract tools that let developers build powerful and efficient decentralized applications.

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    • Decentralized file storage services with features include proof-of-deletion, controlled mutability, and time-based file expiry.

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Brand

Hadera Hashgraph

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