What is HBAR (ℏ)?
Last updated
Last updated
HBAR, also known as ℏ (pronounced "h-bar"), is the digital currency of the Hedera Hashgraph network. Think of it as digital money for transactions and interactions within Hedera. It's like using dollars or euros for transactions, but in the digital world of Hedera Hashgraph.
HBAR is used to pay for transaction fees, smart contract execution, and network services on the Hedera Hashgraph platform. The total supply of $HBAR is fixed at 50 billion tokens, which are released gradually over time to ensure stability and prevent inflation.
Fast Transactions: HBAR transactions happen fast, allowing for almost instant transfers of value on the Hedera Hashgraph network.
Secure: The network employs robust security measures, including asynchronous Byzantine fault tolerance (aBFT), to ensure the integrity and safety of transactions.
Fair and Decentralized: Hedera Hashgraph uses a unique consensus mechanism called Hashgraph, which ensures fairness and decentralization in the network's operation.
Stable Fees: The network implements a predictable fee structure, ensuring that transaction costs remain stable even during times of high network activity.
Energy-Efficient: Unlike some other cryptocurrencies that rely on energy-intensive mining processes, Hedera Hashgraph's consensus mechanism is more energy-efficient, making it environmentally friendly.
Scalability: Hedera's network can handle lots of transactions, making it useful for everything from small payments to big business deals.
