Hedera

What is Hedera (HBAR)?

Hedera (HBAR) is a fast, secure digital network where anyone can build decentralized apps and trade—but it does it all in a way that’s faster and cheaper. HBAR is the cryptocurrency of the Hedera platform and the token fuels transactions, secures the network, and ensures everything runs smoothly.

The project is built on a fresh concept called hashgraph which is a solid alternative to blockchain for running a distributed ledger and powering the cryptocurrency offering the same level of privacy and security as blockchain.

Based on Directed Acyclic Graph (DAG), this structure allows Hedera to process thousands of transactions in the time it might take Bitcoin or Ethereum to process just a handful. Hedera can handle more traffic at once and still keep things running smoothly, making it perfect for big projects and companies that need to move fast without paying high fees.

Hedera supports smart contracts through which developers can create applications that handle transactions without needing middlemen like banks or stock exchanges. And because they cut out the middlemen, these contracts can be faster, cheaper, and more secure than traditional contracts.

How Does Hedera Work?

Hedera (HBAR) is based on DAG, instead of bundling transactions into blocks like other blockchains do, it uses a process where transactions flow like a web. 

Each node (or computer) on the network shares data with nearby nodes, creating this constant flow of information. This is why it’s called the gossip protocol.

After all the gossiping, each node can vote on which transactions should be processed first and this is done within a few seconds, making it fast and secure without having to spend a ton of energy on mining.

Hedera (HBAR) token

HBAR is the cryptocurrency of the Hedera blockchain. The token has the following use cases:

• Paying for Transactions: 

Sending money, storing data, or running a smart contract requires a small fee in HBAR. These fees are very low, which is why Hedera is perfect for things like micropayments.

• Staking for Security: 

HBAR holders can stake their tokens to help secure the network. Currently, only council members (big companies like Google and IBM) can run nodes.

• Fueling Governance: 

HBAR also gives token holders a say in the network’s future. Even though the major council members hold formal voting power, everyday users can influence decisions by staking their HBAR behind specific governance proposals.

Launched through ICO on August 24, 2018, at $0.1200 raising $100 million, and started trading in September 2019 at an initial price of around $0.09052.

As of 2024, the coin recorded an all-time high price of $0.57 on Sep 16, 2021, and an all-time low price of $0.01001 on Jan 2, 2020.

Where to buy HBAR tokens?

HBAR token is traded on 40+ crypto exchanges in the market; some popular centralized exchanges supporting HBAR tokens are Binance, Coinbase, OKX, Upbit, KuCoin, and Bitget.

Some popular decentralized exchanges supporting HBAR tokens are Komodo Wallet, DeFiChain DEX, THORChain, and ChangeNOW.

Wallets for HBAR token:

Security, cost-effectiveness, and user-friendliness are the important factors to consider while selecting a wallet for HBAR token. 

Some of the best crypto wallets for HBAR tokens are Ledger Nano X, Exodus, Hashpack, D’cent, and Blade Wallet.

Hedera (HBAR) Price Prediction 2024-2030:

Hedera (HBAR) has seen an increase in value in recent years due to its growing usage and demand. 

As per Coinpedia, Hedera (HBAR) will reach a potentially high price of $0.065 and a potential low price of $0.035.

Hedera (HBAR) Price 2025: For 2025, the Hedera (HBAR) price is projected to range between $0.08 and $0.04.

Hedera (HBAR) Price 2026: For 2026, the Hedera (HBAR) price is projected to range between $0.095 and $0.045.

Hedera (HBAR) Price 2027: For 2027, the Hedera (HBAR) price is projected to range between $0.110 and $0.050.

Hedera (HBAR) Price 2028: For 2028, the Hedera (HBAR) price is projected to range between $0.130 and $0.055.

Hedera (HBAR) Price 2029: For 2029, the Hedera (HBAR) price is projected to range between $0.150 and $0.060.

Hedera (HBAR) Price 2030: For 2030, the Hedera (HBAR) price is projected to range between $0.170 and $0.065.