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Introduction
In the rapidly developing landscape of cryptocurrencies, one innovative project has received attention to its ability to interfere with traditional Blockchain technology. Hedera Hashgraph (HBAR) is a decentralized public main book that uses a new consensus mechanism designed to provide faster, safer and more scalable options for existing blockchains. In this article, we explore the world of HBAR by studying its unique features and how they distinguish it from other cryptocurrency.
What is Hedera (HBAR)?
Hedera Hashgraph is a decentralized main league technology that aims to cover the gap between traditional blockchain networks and other decentralized applications. Launched by Fintech Company HashgraPH GmbH in Germany in 2016, HBAR was designed as an open source platform to create safe, scalable and high performance cryptocurrencies.
How Hedera (HBAR) works?
The Hedera Consensus Mechanism is based on a new algorithm that utilizes the combination of certificate (POS), Pow (POW) and its own hashtography, called Hashgraph. Here’s a simplified overview of the process:
- Event Validation : Users send events to the Hedera network, which are then checked with the Hashgraph Consensusalithm.
- Consensus voting
: Network nodes vote on the event when each node has a unique share online. The most votes’ node becomes a “leader” on the transactions block.
- Creating blocks : The leader node creates a new block and adds it to the block chain. Each node ensures the contents of the block using complex mathematical algorithms.
- HashGraph algorithm : The Hashgraph algorithm is used to ensure that the network remains decentralized and safe by ensuring that no node controls the entire network.
unique consensus mechanism
The Hedera consensus mechanism is unique in many ways:
* Hash certificate : HBAR uses the Hash certificate (POH) system to ensure that each transaction block has a valid hash that corresponds to the previous block. This eliminates the need for complex encryption factors such as Pow or POS.
* Hashgraph Network : The Hashgraph Network is designed to be more energy efficient and scalable than traditional blockchain networks. It uses a new algorithm called “Hash Graaf” to connect multiple knots to one network, reducing the complexity of nodes interactions.
* The Choice of the Leader : The Leader selection process is optimized for energy efficiency and scalability, focusing on reducing computational requirements to check events.
Benefits
Hedera (HBAR) offers many benefits of traditional cryptocurrencies:
* Faster transaction times : HBAR Consensus Mechanism can handle events in milliseconds alone, making it an attractive choice for high -frequency trading applications.
* Scalable : The HEDERA HASHGRAPH network is designed to be scaled horizontally, allowing it to support a large number of users and events without a significant reduction in performance.
* Energy efficiency : The new algorithms used in HBAR are more energy efficient than traditional blockchain networks, making it an attractive choice for environmental conscious investors.
conclusion
Hedera (HBAR) is a revolutionary cryptocurrency that has the potential to interfere with traditional Blockchain technology. Its innovative consensus mechanism, designed by Hashgraph GmbH, offers faster, safer and more scalable options for existing blockchains. With its unique features, Hedera offers an attractive solution for those looking for high performance, energy efficient and environmentally friendly encryption currency experience.
