$HBAR HBAR is the native cryptocurrency of the Hedera network, which utilizes Hashgraph technology. This network is designed to be a decentralized and fast platform for developing decentralized applications (dApps) and other applications, such as smart contracts and data storage. HBAR is used to pay transaction fees, to secure the network through staking, and for governance.
Details about HBAR:
Underlying technology:
Hedera uses Hashgraph, a distributed consensus algorithm that ensures fast and efficient transactions.
Functions:
Payment of fees: HBAR is used to pay transaction fees on the network, including fees for smart contracts and data storage.
Security: Users can stake HBAR to help validate transactions and ensure the security of the network.
Governance: HBAR is used to vote on proposals for updates or adjustments to network parameters.
Advantages of Hedera:
Speed: The Hedera network is known for its fast transactions.
Low cost: Transaction fees on Hedera are relatively low.
Security: Hashgraph ensures the security and integrity of the network.
Decentralization: Hedera is a decentralized network, meaning it is not controlled by a single entity.