Hedera (HBAR) Crypto Review 2024: Complete Guide

€ 0.1009

-0.4048129088
Dernière mise à jour à 21:02:04 UTC
Market Cap
€ 1,496,066,979.81
Fully Diluted Market Cap
€ 5,043,118,679.3
Volume
€ 37,518,438.03
Circulating Supply
14.83B HBAR

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Last updated at 21:15:04 UTC

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Hedera is a blockchain project that stands out due to its speed, security, and unique governance structure. However, recent activities have left traders and investors asking if Hedera will recover after the dip. Will Hedera go up?

Tokize provides an overview of Hedera’s specific features to help better understand its mechanisms, underlying technology, and advantages. This Hedera (HBAR) crypto review will cover Hedera’s history, goals, functionality, future outlook, and price predictions to assist in deciding whether or not Hedera’s altcoin is a worthwhile investment.

hedera

What is Hedera (HBAR)?

Hedera (HBAR) is the native cryptocurrency of the Hedera Hashgraph network, a distributed ledger technology (DLT) platform that aims to provide superior performance, security, and governance compared to traditional blockchains.

Unlike blockchains that rely on linear chains of blocks, Hedera Hashgraph uses a DLT consensus protocol called Hashgraph, developed by Dr. Leemon Baird in 2016. The Hashgraph protocol enables Hedera to process thousands of transactions per second with negligible fees. As a result, it is particularly suitable for applications requiring high throughput and low latency.

Hedera crypto also stands out for its unique governance model, which relies on a governing council comprising large international enterprises and organizations. This council makes important decisions regarding the network’s development and direction.

Additionally, Hedera offers features like smart contract support and the ability to create custom tokens. Its speed and security make it an ideal platform for building various decentralized applications (dApps), from payment systems to digital markets and social platforms.

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Hedera’s History

Hedera is a revolutionary project that aims to rethink how decentralized systems are designed and used. While the project has seen rapid growth since its inception, here is an overview of the most noteworthy milestones in Hedera’s history to better understand its profound impact on the cryptocurrency and blockchain landscape:

  • 2012-2015: Dr. Leemon Baird, Hedera founder and Chief Scientist, begins working on Hashgraph consensus theory, an alternative to traditional blockchains.
  • August 2015: Dr. Baird publishes a whitepaper detailing the fundamental principles of Hashgraph consensus.
  • 2016: Dr. Baird and Mance Harmon, a serial entrepreneur and cybersecurity expert, found Swirlds, a company dedicated to developing and commercializing Hashgraph technology.
  • March 2018: Hedera Hashgraph is officially launched as a public network, aiming to provide a fast, secure, and decentralized platform leveraging Hashgraph technology.
  • August 2018: Hedera raised over $120 million through a successful ICO to fund further network development.
  • September 2019: Hedera initiates Open Access, allowing the public to use the network and build decentralized applications (dApps).
  • 2020-2021: Hedera continues to establish strategic partnerships and attract major enterprises and organizations to join its governing council.
  • 2023: A new roadmap was launched to resolve Hedera crypto’s scalability issues and add community-run nodes.

Why Was Hedera Created?

The Hedera project was designed to address the major challenges plaguing traditional blockchains, particularly regarding performance, security, and governance. The idea was to create a distributed ledger technology (DLT) platform offering an innovative and superior alternative to existing decentralized systems.

Suppose you are already familiar with the crypto landscape. In that case, you likely know that one of the main problems with traditional blockchains is their inability to process high volumes of transactions per second. This factor limits their potential for mainstream adoption and use in high-performance applications. Thanks to its unique Hashgraph consensus protocol, Hedera overcomes this limitation by delivering drastically higher transaction speeds than classic blockchains.

In parallel, Hedera was engineered to guarantee optimum security. Its consensus mechanism has the advantage of being resilient against malicious attacks and node failures on the network. As for governance, where traditional blockchains are often criticized for lacking transparency and balance in decision-making, Hedera tackles this problem by establishing a governing council comprising major international enterprises and organizations to oversee and guide the network’s development – all for more balanced governance and equitable distribution of decision-making powers.

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How Does Hedera Work?

To know how Hedera works, we must go through the protocol, consensus, security, and governance. Here are the key elements underpinning Hedera.

Hashgraph Protocol

Hedera blockchain is built on the Hashgraph protocol, a consensus algorithm that relies on a directed acyclic graph (DAG) to represent the history of transactions. This approach enables faster confirmation times and processing of thousands of transactions per second.

Consensus

The Hashgraph protocol uses a consensus mechanism called “gossip about gossip.” In this system, network nodes randomly share information about transactions and their arrival order with other nodes. By combining this data with a virtual voting algorithm, Hedera achieves fast and secure consensus on the order of transactions.

Security

Hedera offers a high level of security thanks to its consensus protocol, which is resilient to Sybil attacks, node failures, and malicious tampering. The network is designed to withstand the most common attacks, like double-spending and DDoS attacks. Additionally, Hedera is ABFT-compliant (Asynchronous Byzantine Fault Tolerance) and considered the highest level of security for a decentralized consensus system.

Governance

A council of major international enterprises and organizations carries out Hedera’s governance. This council makes key decisions regarding the network’s development and direction, ensuring balanced and transparent governance. Council members are also in charge of overseeing and maintaining the network’s nodes.

Additional Features

In this section of the TOK Hedera crypto review, we will explore the additional features that help to support building this decentralized application (dApps):

  • Smart contracts: Enables smart contracts that allow developers to create automated, self-executing applications on the platform.
  • Custom tokens: Ability to launch custom tokens on the Hedera network, facilitating decentralized finance (DeFi) projects and digital economies.
  • File service: Decentralized file storage service for securely and transparently storing and sharing data.
  • NFTs: Hedera also incorporates non-fungible tokens (NFTs) – a dynamic, promising ecosystem for artists, content creators, and collectors to leverage Hashgraph’s speed and security. Hedera NFTs can represent various unique digital assets like artwork, collectibles, virtual goods, etc.

Staking: Hedera staking lets you earn awards without doing anything for helping to protect the Hedera network. When you connect HashPack Wallet to your Ledger hardware wallet, giving away the HBAR you want to stake is easy and safe.

hedera

Where To Buy Hedera (HBAR)?

Several cryptocurrency exchange platforms allow buying HBAR crypto, but not all are equal regarding reliability, security, and ease of use. Here are three of the top platforms for buying Hedera:

Crypto.com

Crypto.com is a cryptocurrency trading platform offering various digital currencies, including Hedera (HBAR). To buy Hedera on Crypto.com, simply create an account, verify your identity, and deposit funds in euros or cryptocurrencies. You can then exchange those funds for HBAR. Crypto.com also provides a convenient mobile app to manage your investments.

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Binance

As one of the largest cryptocurrency exchanges globally, Binance also enables buying and selling Hedera (HBAR). To find out where to buy Hedera on Binance, open an account and verify your identity. Next, deposit funds in euros or cryptocurrencies to exchange for HBAR. Binance also provides advanced trading tools for seasoned investors and a mobile app to track your investments anywhere.

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  • Low fees
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  • Fee discount for using native BNB

eToro

The eToro social trading and investment platform allows the buying of various assets, including cryptocurrencies. To purchase Hedera on eToro, open an account, verify your identity, and deposit funds in euros. You can then search for HBAR in the list of available cryptocurrencies and place a buy order. If you’re a beginner, consider leveraging eToro’s social trading features to follow and copy other investors’ trades.

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We recommend that Binance buy Hedera (HBAR) among these three platforms. Binance offers an immense selection of cryptocurrencies and advanced trading tools. Moreover, its reputation stands for being reliable and secure.

Transaction fees are also quite competitive.

To check the latest Hedera price USD and Hedera euro rate in real-time, you can refer to the exchange platforms directly or use specialized cryptocurrency price tracking websites like CoinMarketCap or CoinGecko. Monitor price fluctuations regularly since, as with all cryptocurrencies, Hedera to USD price is highly volatile.

Hedera Fear and Greed Index

Updated:: 24 February 2024

Now: 78 Extreme Greed

Now: 78 Extreme Greed

Yesterday: 78 Extreme Greed

Last Week: 70 Greed

Is Buying Hedera a Good Investment?

To answer the question Hedera is a good investment, we must look at the factors that could influence the price of Hedera in the near future, along with this investment’s potential benefits and drawbacks.

Adoption Potential

Hedera may see increasing adoption as a platform for decentralized apps (dApps) due to its superior speed and security over traditional blockchains. Greater adoption could positively impact Hedera’s value and boost HBAR’s price.

Strategic Partnerships

Hedera has already partnered with leading companies and organizations like IBM and Google. New strategic partnerships could strengthen the cryptocurrency’s market position and increase demand in Hedera crypto..

Technological Developments

Another factor in Hedera forecast is technological development in the ecosystem. Continuous improvements to the Hashgraph protocol and Hedera’s offered functionality could attract more users and investors.

Cryptocurrency Market Regulation

As with all cryptocurrencies, governmental regulations and tax policies around the crypto market could broadly impact prices, including HBAR’s rate. Stay updated on developments in crypto market regulations and how they affect Hedera’s future price.

Pros & Cons of Investing in Hedera

  • Cutting-edge technology: Hashgraph blockchain protocol provides faster speed, better security, and greater energy efficiency than traditional blockchains.
  • Strong governance: Hedera’s governing council has influential business and technology leaders for transparent, balanced oversight.
  • Adoption potential: Hedera’s offerings, like smart contracts and custom tokens, could drive adoption by developers and enterprises.
  • Competition: Hedera faces stiff competition from other dApp platforms like Ethereum and Cardano with established user bases.
  • Volatility: As with all cryptocurrencies, HBAR’s price is prone to significant fluctuations.
  • Uncertain regulation: Government policies and crypto regulations could impact adoption rates and the token’s price.

All these factors must be considered for the most reliable possible Hedera prediction.

Our Final Verdict on Hedera

Our Hedera crypto review is quite positive overall. At Tokize, our expert insight and in-depth analysis highlight Hedera’s ability to stand out from other crypto projects. Overall. we appreciate the Hashgraph protocol implementation, which enables superior performance in speed, security, and energy efficiency, and Hedera’s sound, transparent governance with its diverse, expert governing council.

On a more negative note, let’s not forget that Hedera faces fierce competition in the dApp platform market, and future adoption will greatly depend on its capacity to differentiate itself and provide unique, high-value solutions for developers and enterprises. Therefore, adopt a prudent approach and remember to diversify your investments!

FAQs - Frequently Asked Questions About Hedera Crypto

What is Hedera Hashgraph?

Hedera Hashgraph is a distributed ledger technology (DLT) platform based on the Hashgraph protocol, which provides benefits in terms of speed, security, and energy efficiency compared to traditional blockchains.

What is Hedera's native cryptocurrency?

Hedera’s native cryptocurrency is HBAR. It conducts transactions, pays service fees, and rewards network nodes.

What are the main use cases for Hedera?

Decentralized applications (dApps), smart contracts, custom tokens, and non-fungible tokens (NFTs).

Does Hedera support NFTs?

Yes, Hedera supports NFTs and offers a dynamic, promising ecosystem for artists, content creators, and collectors.

Can I view live Hedera charts and Hedera stock price data?

Yes, live Hedera charts showing the price, market cap, volume, and other metrics can be found on sites like CoinMarketCap and CoinGecko. However, there is no Hedera stock price since it is a cryptocurrency asset, not a publicly traded stock.

Will Hedera recover?

Hedera will most likely recover as the overall market looks to break new highs. The coin has hit several support zones and pushed past them. However, it has also met some resistance, which has managed to pull its price. Overall, the long-term future of Hedera looks positive, so it may recover.

Is Hedera a good investment?

You’ll need a thorough technical analysis to know if Hedera is a good investment. You should check its historical price movements to determine the right time to invest in Hedera. Due to its annual drops, year-endings aren’t always a good time to invest in Hedera. However, you may consider investing during peak months for the token.

About the author

Tobi Amure

Tobi began his career in 2017 as a crypto writer, where he focused on producing educational content. He worked with Stockbossup, an investment platform dedicated to educating black people. Prior to that, he worked as a copywriter with Turboxbt, a crypto trading platform. In 2021, Tobi joined Watcher Guru as a crypto news editor. He was recognized as one of the top 333 web3 creators on LinkedIn for crypto in 2022.