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edera Hashgraph is a distributed ledger technology (DLT) platform that uses a unique consensus algorithm to achieve high transaction throughput, fast finality, and a high degree of security. Launched in 2018, Hedera is designed to provide a fast, secure, and scalable infrastructure for decentralized applications (dApps) and enterprise use cases.
The Hedera platform is built on a proprietary consensus algorithm called hashgraph, which uses a combination of gossip protocol and virtual voting to achieve consensus. Unlike other consensus algorithms used by blockchain platforms like Bitcoin and Ethereum, hashgraph can achieve high transaction throughput without sacrificing finality or security. With hashgraph, transactions can be finalized within seconds, and the network can support hundreds of thousands of transactions per second.
Hedera's native cryptocurrency is called HBAR, which is used to pay for transactions on the Hedera network and can be staked to participate in network governance decisions. HBAR has a fixed maximum supply of 50 billion tokens, with a circulating supply of around 8 billion tokens as of May 2023. HBAR has been listed on numerous cryptocurrency exchanges and can be used to pay for a variety of services on the Hedera platform.
One of the key features of Hedera is its support for smart contracts, which allows developers to build dApps on top of the Hedera network. Hedera's smart contract language is based on Solidity, the same language used by Ethereum, making it easier for developers to transition from Ethereum to Hedera. The Hedera platform also includes a range of development tools and resources to help developers build, test, and deploy dApps on the platform.
Another unique feature of the Hedera platform is its focus on enterprise adoption. Hedera is designed to meet the needs of businesses and institutions, with features like low transaction fees, high transaction throughput, and support for regulatory compliance. Hedera has partnerships with a number of major companies, including IBM, Google Cloud, and Tata Communications, who are using the platform to build enterprise-grade applications.
Overall, Hedera is a promising DLT platform that has the potential to become a major player in the blockchain and cryptocurrency space. With its innovative consensus algorithm, native cryptocurrency, support for smart contracts, and focus on enterprise adoption, Hedera is well-positioned to meet the needs of developers, businesses, and institutions in the years to come.