"Key Functions of HBAR in Powering and Securing the Hedera Network"
1. Powers Hedera services :- HBAR is used to fuel services such as smart contracts, file storage, and transactions, enabling efficient and decentralized operations.
2. Secure the network :- Users can stake HBAR tokens, contributing to network security by validating transactions and maintaining the platform's integrity.
3. Votes on platform decisions :- HBAR holders have the ability to vote on governance decisions, such as protocol upgrades or changes, which helps guide the future development of the network.
4. Pays transaction fees :- HBAR is the currency required to pay for transaction fees on the Hedera network, ensuring smooth execution of operations.
5. Mints NFTs :- Developers use HBAR to mint non-fungible tokens (NFTs) on the Hedera platform, taking advantage of its scalability and low transaction costs.
6. Logs data :- HBAR is used by developers to log unique data on the Hedera network, ensuring secure and immutable record-keeping.
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