Developed by Dr Leemon Baird and Mance Harmon, Hedera (HBAR) is perhaps one of the unique enterprise-graded public networks, which allows individuals and enterprises to create unique decentralised applications (DApps).
Operating on the proof-of-stake consensus, it aims to be a mix of both: path to permissionless and path to widespread coin distribution to ensure that the network remains secure and achieves decentralisation. The protocol is designed in such a manner that the system is fairer and more efficient as compared to its peers. Besides, it has the ability to remove the issues that are faced by other blockchain platforms.
On 15 February, the HBRAR crypto was rallying by over 16% and a volume gain of over 200%.
Why is the HBAR token on a high?
Dubbed as the greenest cryptocurrency, the HBAR token seems to be rallying following the news of auctioning eight tokenized assets, which includes NFTs on the Hedera Token Service. This is expected to guarantee fair ordering system on the Hedera network.
Hedera’s rising popularity has seen it as one of the fastest growing blockchain projects at the moment. In fact, Hedera protocol has the backing from leading organizations in the world like Alphabet, IBM, ServiceNow, and Chainlink Labs.
One of its unique features is unlike others, it isn’t built on top of the conventional blockchain network and instead incorporates a distributed ledger technology, known as the Hashgraph. It is estimated that the Hedera with superior transaction speed can handle 10,000 TPS.
How is HBAR token faring?
HBAR token is ranked 33 and was trading at US$0.261145 with a volume of US$191,297,744 over a day according to CoinMarketCap. At the time of drafting, HBAR coin was up by 16.81% over a day. HBAR crypto has a live market cap of US$4,724,851,220 with 18,092,792,421 HBAR coins supply in circulation.
Leading companies have, of late, embraced HBAR’s unique protocol to build various projects. Firms such as Coupon Bureau uses it to fight US$100 million worth of annual retail fraud in the US. Similarly, IBM Blockchain Platform uses it for various auditable transaction ordering.
HBAR’s growing reputation as a unique protocol, which keeps the system fairer and more efficient, has attracted many investors on its platform. They would be buoyed by the recent rally and would be hoping that this rally to continue for some more period.
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