Hedera Hashgraph (HBAR) started trading on Indodax on February 9, 2021. How exactly is HBAR? Check out the explanation.
Before you buy HBAR on Indodax, it’s a good idea to first understand what HBAR is. This is so that you don’t just buy and expect a drastic increase on the first day.
Hedera Hashgraph is a public network that allows individuals and businesses to create powerful decentralized applications (DApps). This crypto asset is also referred to as the “internet trust layer”.
HBAR is designed to be a fairer and more efficient system that removes some of the limitations that older blockchain-based platforms face – such as slow performance and instability.
It was funded via an Initial Coin Offering (ICO) in August 2018 and first launched open access to the mainnet more than a year later in September 2019. As part of the ICO, investors can purchase the platform’s native utility token (HBAR) at the lowest possible price.
Read Also: Still Confused Which Crypto Assets to Buy?
The HBAR token has a dual role in the Hedera public network.
First and foremost, HBAR is the fuel that powers Hedera services, such as smart contracts, file storage and regular transactions.
Second, it is used to help secure the network, because HBAR users can stake their tokens to help maintain the integrity of the platform.
Unlike most other cryptocurrency platforms, Hedera Hashgraph is not built on a conventional blockchain.
Instead, it introduces a completely new type of distributed ledger technology known as Hashgraph.
This technology allows it to scale many blockchain-based alternatives in several key areas, including speed, cost, and scalability.
Overall, Hedera Hashgraph claims to be able to handle more than 10,000 transactions per second (TPS) – compared to around 5-20 for the most popular proof-of-work (PoW) based blockchain.
The day before listing on Indodax, HBAR was a crypto asset that was ranked 62 on the crypto asset rating website Coinmarketcap.com. This crypto asset has a total volume of $ 73,497,395 and a market cap of $ 693,178,810.
Once you know what HBAR is, its utility and rating, HBAR is actually worth having. It’s just that you need to understand the up and down movements using technical analysis.
So that you continue to profit while trading, you can read the next article Indodax.academy. You can also find out other interesting information on Indodax’s official social media.