Hedera Bar (also known as HBAR) is the native cryptocurrency of the Hedera public network. Here are some details about HBAR:
HBAR Features:
Application transactions: hbars are used to pay transaction fees for applications on the Hedera network.
Network Protection: HBAR protects the network using the Proof-of-Stake (PoS) mechanism. When hbars are staked on network nodes, they influence the consensus for processing transactions.
Network Fuel: Developers use hbars to pay for network services, such as transferring hbars, creating fungible and non-fungible tokens, executing smart contracts, and logging data.
Advantages of Hedera (HBAR):
Energy Efficiency: Unlike proof-of-work based blockchains, Hedera uses PoS, which significantly reduces energy consumption1.
Speed and low costs: Hedera processes transactions at high speed (over 10,000 TPS) with very low fees (approximately $0.001 USD per transaction)1.
Finality in seconds: Transactions on Hedera are quickly confirmed and final within seconds.
Current data:
HBAR Current Price: Approximately $0.0819 USD23.
Market capitalization: Around $2.93 billion USD2.
In short, Hedera Bar (HBAR) is an efficient, fast and secure cryptocurrency that powers the Hedera network. I hope this review was helpful to you! 😊
