The Hedera Hashgraph (Hbar) currency is a digital currency project that is somewhat different from traditional currencies like Bitcoin or Ethereum. Instead of using classic blockchain technology, Hedera relies on a new algorithm called Hashgraph, which is faster and more efficient than blockchain in terms of performance and speed.
Basic information about HBAR:
Function: The HBAR currency is used to pay transaction fees and secure the network through staking.
Speed: It can process thousands of transactions per second (TPS), with a very short confirmation time (just a few seconds).
Cost: Transaction fees are very low (usually less than one cent).
Security: It uses the Asynchronous Byzantine Fault Tolerance (aBFT) method, which is one of the highest levels of security among networks.
Features of Hedera:
Very high speed compared to traditional blockchain.
Much lower energy consumption (environmentally friendly).
Its governance is distributed among a group of major global companies such as: Google, IBM, Boeing, and others.
Potential drawbacks:
It is currently considered a semi-centralized network, as its board of directors (which governs updates) is composed of specific companies.
Some cryptocurrency enthusiasts prefer fully decentralized systems, which may be seen as a weakness for Hedera.