What is HBAR?
‘Proof of Stake.’ It provides an incentive structure that can be seen as a move away from Proof of Work. HBAR’s platform is scalable, particularly for blockchains. It also allows for transactions to occur instantly and enables smart contracts, making it suitable for high-volume, high-speed markets
Hedera Hashgraph (HBAR) is a blockchain-based platform that uses a new consensus mechanism called the Hedera Hashgraph Approval Logics (HHL) to achieve fast and accurate global consensus.
Hedera Hashgraph is a distributed ledger technology that uses a new consensus mechanism that they claim is more efficient, scalable, and secure than any other existing consensus protocol. It can be used to create decentralized applications on top of the Hedera platform.
Hedera Hashgraph, the first public distributed ledger that is an alternative to Ethereum, is designed to improve on the security of blockchain applications. This new technology has tremendous potential for businesses of all sizes and industries.
Hedera Hashgraph is a blockchain-based platform that aims to make a world that is more efficient by eliminating the need for third parties. In order to do this, it uses an innovative algorithm that enables the creation of a decentralized network of servers.
Hedera Hashgraph is developing a distributed ledger technology with the potential to revolutionize the world of finance. With Hedera Hashgraph, it is possible to build decentralised applications that are infinitely scalable, cost-effective and censorship-resistant.
So what exactly is HBAR you may ask, well the Hedera public network is built on the strong foundation of the Hashgraph distributed consensus algorithm, invented by Dr. Leemon Baird, Hedera Co-founder and Chief Scientist. With this you will see It is an improved version of the distributed ledger technology that will offer security and decentralization by utilizing hashing.
As standard, In blockchain, consensus rules will require that blocks always eventually settle nicely in a single, longest chain, which is agreed upon by the community. Then If two blocks are created at the same time, what usually happens is that the network nodes will choose the one chain to continue and discard the other one, that’s not what HBAR does.
What is different in HBAR hashgraph, is that you will find every container of transactions is completely incorporated into the ledger — and none here are discarded — so that shows that it is more efficient than blockchains. And all the branches will continue to exist forever. In hashgraph, nothing is thrown away, and it is the potential future in the blockchain we believe
Here’s a graphic which will show the process.
How does HBAR Differ From The Blockchain?
Bandwidth and Transaction Speed
Well, unlike a traditional proof-of-work blockchain, which will only select a single miner to choose the next block, in HBAR the community of nodes running HBAR will come to an agreement on which transactions to add to the ledger as a collective which is more effective.
HBAR tech provides almost near-perfect efficiency with the bandwidth usage and gives high transaction speed (because transactions can be processed in parallel) compared to the traditional Blockchain, which again is a huge plus point to HBAR.
Traditional blockchain gives you a transaction speed of around 100 to 1000 based on protocol implementation like ethereum, hyperledger, etc., whereas Hedera can support 500,000 transactions per second, which with those numbers really can show you the difference here.
Low Transaction Costs
Here again HBAR is ahead of the pack, bitcoin has a fee of around 20 dollars, with HBAR coming in at under a CENT.
Cheap Power Consumption
With Hedera’s Proof of Stake model it does not use crazy amounts of your electricity, unlike common Proof of Work Blockchains, such as Bitcoin
Where and How to buy Hedera Hashgraph (HBAR) on Binance
Step 1: You need to Register for an account on Binance
To get started you will need an account on binance which is quick and easy to do.
We recommend Binance because it is the biggest exchange on the marketplace with the most coins pairs, so by having an account with them it gives you the ability to trade many different coins.
In this guide we are looking to buy HBAR which you will not be able to get done directly so what you will need to do is use your debit card to buy BTC, and then trade this with the HBAR.
We will go through this step-by-step.
Its very easy and quick to get started on Binance so get yourself registered here.
Step 2: You need to then verify your account
Which is another really quick step for you which will take not time at all.
Just make sure you use a working mobile phone, and make sure you use your name that is on your ID.
This is because Binance may ask you at some point to do KYC for the account, and actually you will want to do this as it will keep your crypto safe.
Step 3: You Need to Get BTC to your Binance account
So with our binance account made now we need to buy bitcoin, we need bitcoin because we need to use it to trade for HBAR remember?
With this step all you have a few options, the simple one is to buy it directly with you debit card. To do this all you need to do is click on buy crypto, and click on buy with debit card. You will need to put your debit card details in but don’t worry its now just the same as buying anything online.
There is also an option to do a bank transfer, which you will see with the payment options, but in this example we are going to use the debit card, as its the quickest and easiest.
After this is done you are nearly done, and the bitcoin will be safe in your binance wallet. Go there and have a look if you are unsure, click on ‘wallet’ on the binance homepage and you will see the bitcoin there.
Step 3: Trade your BTC for HBAR.
The reason we recommend binance and use it ourselves is because of all the pairs of coins it has, and it is no different with HBAR which it has.
Next up what you need to do is click trade on the platform, and you will need to click on classic, at this point its the best way for you to use the platform, there are many other ways to trade on binance but this is the best way we think, its simple to use and you will get the hang of it in no time at all!
So with this image, you will see in the top right corner i have typed in HBAR, you will need to do this also.
And straight away you will see HBAR/BTC pair come up, along with a few other crypto pairs.
So we need to to press on HBAR/BTC in this example to buy HBAR with our BTC we bought earlier.
Next up you will see this image
When you click on the pair you will have option to use any amount of BTC you want, but it may be simplier to use the sliding percentage scale, and go on 100%.
One you have selected the amount of bitcoin you want to use to trade for HBAR, then all you need to do is buy.
The options are market price which is the quickest method and if you are new, we would recommend you do this. If not you can use buy order and buy from a seller on the left of the screen, using that as a guide for the latest price
Either way you go about it, that’s it all done you now have learnt how to buy hbar from binance.
So why buy HBAR?
What really is the great thing about Hedera is that its total success relies on apps that generate a lot of transactions and thus generate revenue for the network (stakers) — today, AdsDax makes up the most of the tx volume on Hedera and Coupon Bureau projects 350B yearly transactions.
The actual speculation comes in when thinking about the network effect, how HCS can be leveraged ‘off-chain/off-ledger’ (I have a pretty good hunch that Chainlink will use HCS for hybrid smartcontracts and offchain computations), dApp-to-dApp economy, DeFi and so on… now start thinking about AR/VR on DLT, MMOs, CBDCs using a hybrid model (leveraging HCS and settling transactions on the mainnet)
There’s really no doubt in our mind, that productive assets will be the preferred form of collateral for loans; and what we see is that HBAR has a much better design than (most) other coins when it comes to this despite the tokenomics being one of the primary concerns/sources for FUD.
Hedera Hashgraph is a highly scalable public distributed ledger technology designed to provide the next generation of high-performance, secure, and decentralized applications. The Hedera platform is built to handle millions of transactions per second, decentralized applications with no downtime or single point of failure.
Hedera Hashgraph, or HBAR, is a type of distributed ledger technology which allows transactions to be processed with only one confirmation. This process is called “Proof of Work.” It eliminates the need for costly mining operations and makes the blockchain more secure.
edera Hashgraph is a transparent, fair, and secure platform with a next-generation Distributed Ledger Technology that ensures near instantaneous finality.
Hedera Hashgraph (HBAR) is a revolutionary new platform that supports the use of DAGs, or Directed Acyclic Graphs, which are un-decentralized and distributed systems. These decentralized networks offer speed and efficiency in transactions while requiring less power and lower fees.
Blockchain technology is a new concept that is beginning to change the world of finance and commerce. Hedera Hashgraph (HBAR) is a new technology that has been developed from the original blockchain. It offers faster transactions, lower fees, and much more.
It’s important to understand market dynamics here because stakers don’t generate direct sell pressure by taking loans against their assets.
Will all those things in mind, I think $1-2 per HBAR is gonna be and easy target; no matter what the rest of the market does in the mean time.
Government regulation is coming, have NO doubt about that everyone. With that being the case, here at cryptosetgo we think Hbar is very well set up to ride the changes this will bring, and cope with the changes that this could bring to the crypto market.
With that all said and done if you want to get hold of your HBAR register and get started today.
Interested in other low cap gems? Check these two out
Is HBAR crypto a good investment?
Yes HBAR is a fantastic investment, and has a look of interest in it. And it has a long way to go with price increases as it has a low market cap compared to the big players in the market such as BTC and ETH
Is HBAR undervalued
Hedera has the potential to be one of the most disruptive companies of this generation, having a profound effect on almost every industry sector and the investors in the companies of those industries have no clue. Hedera is perfectly positioned in Ethereum’s wake like Apple was prior to entering a market. Apple pioneered nothing. They watched competitors establish a market and then came in with a product perfected to that market. Music players, phones, laptops etc. BTC successfully established the concept of a cryptocurrency, Ethereum established the smart contract, Hedera is in a position, through superior network technology and network cost structure, to establish a viable peer-to-peer market (i.e. transactions) using DLTs.