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Hedera (HBAR) is a cryptocurrency that runs on a blockchain called Hashgraph. Hedera Hashgraph makes cryptocurrencies, smart contracts and distributed applications (DApps) possible. Hedera is owned and supported by some of the world’s largest companies and uses different versions of the equity proof consensus algorithm to provide faster transaction time, lower cost and lower energy use compared with other cryptocurrencies.To better understand how Hedera works, the unique features of Hedera Hashgraph, and whether Hedera makes sense for your cryptocurrency strategy, please continue to read this Hedera guide.

What is Hedera?

Hedera is a cryptocurrency on Hedera Hashgraph, which is a unique type of blockchain. Hedera Hashgraph supports cryptocurrencies, smart contracts and DApps.Hedera Hashgraph is supported by different versions of equity proof consensus agreement, and transaction verifiers are encouraged by HBAR currency.

Special Features of Hedera

Hedera relies on a unique communication protocol, which is different from work proven blockchains such as bitcoin. Hedera distributed ledger runs on a set of nodes operated by large companies such as Google and IBM, using the “gossip Protocol” algorithm to ensure fast and low-cost transactions.

According to Hedera, the network can process more than 10000 transactions per second, with settlement and confirmation times of 3 to 5 seconds. The average transaction cost on Hadera is only $0.0001, and the energy required is only a small part of the best-known blockchain.

How to Mine Hedera

The consensus behind Hedera network comes from different high-power nodes, which communicate with gossip protocol and push the recent transaction history of local nodes into the network to obtain extremely fast final settlement time.

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