This article consists of a concise summary of project Hedera Hashgraph ($HBAR) and we have listed down its use-cases, tokenomics & a lot more information.
To begin with, let’s get introduced to this project and its core use-cases. As listed on the official site, it states the core use cases on Payments, Tokenized assets, Healthcare, Fraud Mitigation, Identity, and Data Compliance.
- Hedera claims to reduce the cost of payments and unlock new revenue for companies.
- Tokenized assets can be managed and swapped using the network like never before.
- Fraud prevention costs can be reduced and customers will be safer than before.
So far, these 3 were some of its core use-cases. Hedera’s core mission is to build a trusted, secure, and empowered digital future for everyone from the largest businesses to the simplest consumers.
The team is said to be working upon building a trusted and secure online world that will empower the users, where people can work, play, sell, create and engage socially. Where users can have safety and privacy in digital communities and people feel confident while interacting with others.
Distributed Ledger Technology (DLT)
DLT has the potential of disrupting and transforming the existing industries. But according to the Hedera team, this can only be done if they get wide acceptance by the masses as well as enterprises. Some of the most compelling use cases of DLT as sourced from the Whitepaper are,
- Performance – The ability to perform hundreds of thousands of transactions per second, and less latency is what the existing payment infrastructure needs. This is currently beyond what current public DLT platforms can achieve.
- Security – If public DLT platforms start transferring trillions of dollars of value, it’s obvious that they will be targeted by hackers, and so there’s a need for the strongest possible network security which starts from the consensus algorithm itself.
- Governance – A general-purpose public ledger should be governed by representatives
from a broad range of market and geographic sectors, each with world-class expertise.
Those responsible for network governance need technical expertise so they can
competently manage the platform’s underlying software. They need business and
economics expertise so they can manage the business operations of the organization and
its cryptocurrency. They need legal expertise to help navigate the evolving regulatory
environment. In other words, the network should be governed by a decentralized group of
globally recognized industry leaders, representative of every market in the world.
- Stability – Without technical and legal mechanisms to enforce the decisions of the
governing body, public DLT platforms are at risk of devolving into chaos. Strong security and
mature governance will enable a stable platform — one that engenders the necessary trust
and confidence among those that would build commercial or sensitive applications on it.
- Regulatory Compliance – We expect that governments will continue to extend
policy objectives to users, enterprises, and developers utilizing public ledgers and associated
cryptocurrencies and tokens. We consider that a public distributed ledger must be capable
of providing necessary tools for all members of its ecosystem to comply with applicable laws
and regulations, such as the European Union’s General Data Privacy Regulations (GDPR), and
enable appropriate identity management to conduct sanctions screening and facilitate Know
Your Customer (KYC) and Anti Money Laundering (AML) checks.
Hedera is a public hashgraph network and governing body designed to address the needs of mainstream markets mentioned above.
A hashgraph distributed ledger is inexpensive to operate compared to blockchain distributed ledgers, as it avoids energy-intensive proof-of-work. Individuals and organizations who want to run hashgraph nodes will not need to purchase expensive custom mining rigs. Instead, they will be able to run hashgraph nodes via readily available hardware that is less expensive than such specialized mining rigs.
The website shares an interesting stat which you should look at 👇🏻
Disclaimer, this article is not a piece of investment advice.
WazirX India has listed HBAR in INR and USDT market and a contest for the same has also been organized where the highest traders can win 🔥.
Highest Trader Kaun Marathon: HBAR/INR
Get ready for Highest Trader Kaun Marathon with double the fun & double the prizes!
What’s new in the contest?
- We are running two Highest Trader Kaun Marathons.
The first trading contest is from Monday, 15th March, 9 AM to Wednesday, 17th March, 9 AM IST.
The second trading contest is from Monday, 22nd March, 9 AM to Wednesday, 24th March, 9 AM IST.
- Each contest will be run non-stop for 48 hours.
- Yes, you can participate in any or both contests any time between the contest duration. Trade hard & win!
- For each contest, total prize is of ₹6,45,000 (~ $8,600 USD) worth HBAR. You can win prizes based on your trading performance for the entire 48-hour long trading contest marathons!
Contest 1 timing: Monday, 15th March, 9 AM — Wednesday, 17th March, 9 AM IST (non-stop)
Contest 2 timing: Monday, 22nd March, 9 AM —Wednesday, 24th March, 9 AM IST (non-stop)
That was all folks !
Here are the sources,