Hedera is a distributed ledger technology (DLT) network. It has the same functionality as Ethereum and Bitcoin. It uses more efficient security and verification technology than blockchain networks. The Hedera network uses its native currency HBAR.

What is Hedera?

Hedera is a decentralized, open-source public blockchain based on the hashgraph consensus mechanism, governed by a council of major companies from within and outside the industry. Not only that, it also brings to the market an efficient and fast performance Ethereum Virtual Machine (EVM) through its smart contracts as well as native tokenization.

The highlight of Hedera is that the network brings high performance, security, and stability to the market through governance.

  • Security: With the application of the aBFT consensus mechanism, blockchain will easily implement security measures as its applications and transaction volume increase.

  • High Performance: Currently, Hedera's TPS has increased to 10,000 TPS.

  • Governance: The Hedera Network will be managed by a council composed of 39 global enterprises. Council members will bring the necessary experience for the effective operation of the network.

    Hedera Project Structure

Internet Layer

Nodes in the Hedera Network are computers that communicate using TCP/IP connections and are protected by TLS encryption. Node addresses will be formatted using IP addresses and ports rather than names, so DNS attacks will not significantly affect the network.

Hashgraph Consensus Layer

These nodes will obtain transactions from clients and share them across the network using the gossip protocol. Afterward, all nodes will run the hashgraph consensus algorithm to agree on the timeline and consensus order for each specific transaction. This way, all nodes will maintain the same consensus state (in any given shard).

Smart Contract

Hedera ledger can run smart contracts written in this language with robustness. Currently, Solidity smart contracts in the library can be launched without much change. This makes it easy to build applications on Hedera.

Consensus

Hedera's consensus service will provide an effective alternative to smart contracts and a file system for building decentralized applications.

Hedera Project Team

- Leemon Baird (Co-Founder and Chief Technology Officer) is recognized as an investor in the hashgraph distributed consensus algorithm and currently serves as Hedera's Chief Scientist. Before founding Hedera Hashgraph, Baird had over a decade of experience in various computer science and security roles.

- Mance Harmon (Co-Founder) is the co-founder and CEO of Hedera, with over 20 years of leadership experience in multinational corporations, government agencies, and publicly listed startups.

HBAR Token Economics

The total supply of HBAR tokens is 5 billion, most of which are used for network incentives and ecological development. In the initial phase, HBAR tokens are primarily issued through the following methods:

1. Initial Coin Offering (ICO): During the ICO phase, a portion of HBAR tokens will be publicly sold to raise funds to support project development.

2. Private Placement: The project team conducts private placements to specific investors, selling a portion of HBAR tokens at a lower price.

3. Ecological Incentives: The project team will reserve a portion of HBAR tokens to reward nodes, developers, and other ecological participants who contribute to the network's development.

4. Token Unlocking: According to the project development plan, a portion of HBAR tokens will be gradually unlocked over a certain period to avoid market oversupply.