What is Hedera Hashgraph (HBAR)?
HBAR is the native token of the Hedera public network. They are used for decentralized applications (dApps) and to secure the network from malicious parties.
Unlike traditional blockchains, HBAR is built upon a completely different type of distributed ledger, known as a Hashgraph.
HBAR’s use of a Hashgraph allows it to significantly improve the speed, cost and scalability of its network. As an example, transactions have an average fee of under $0.0001USD, network confirmation times of under five seconds, and throughput for 10,000 transactions per second.
Security of Network
HBAR uses a novel variation of proof-of-stake (PoS) where HBAR users can stake their resources to protect the network. Currently, Hedera nodes are managed by Hedera and governing council members, but there are plans to switch to a permissionless system in the future.
HBAR’s speed and security allow applications and services that use a public ledger greater transparency and trust. This opens up new frontiers, such as a media consumption service paying artists directly, or an ad network without intermediaries.