Some time ago I wanted to talk to you about this topic (HEDERA) Does the name sound familiar? I hope your answer is YES, because I think it is a Blockchain network which has had a good popularity in all this crypto world, and I advance you that I see it as a possible gem for this year 2024, especially for this bull run we are waiting for.
But if you are one of the few users who do not know anything about HEDERA and its token HBAR, here I will tell you in detail what this project is, and what are the fundamentals that give great support to the network and its token to give good returns or profits for this year...
Image created in Bing AI - Edited in Photoshop CC
Table of contents for this article:
♦️ Why the HEDERA network differs from others.
♦️ Behavior of its native token (HBAR).
♦️ Because HBAR can be a token with a lot of potential in this bull run.
♦️ Actually this token can make us a lot of money, and why?
Image by HEDERA - Edited in Photoshop CC
Why the HEDERA network is different from the others.
As I mentioned at the beginning of this article, I am motivated by the idea of talking about Hedera, as I have had it in my portfolio for a couple of months and I have even mentioned it in my previous articles that I have published here at Inleo, but it is time to talk about What is Hedera, it is an open source network that, in my opinion, is changing or will significantly change the game in the world of cryptocurrencies and crypto technology.
What makes Hedera so special is its use of consensus hashgraph, which is fast, fair and secure. This allows Hedera to offer network services such as Solidity-based smart contracts and native tokenization and consensus services. These services are fundamental to building decentralized applications, meaning that developers can create applications that are not controlled by any central entity.
But you are probably wondering What is Hashgraph, Hashgraph is a revolution in the world of cryptocurrencies, and it is not something new, because if you search well you will realize that this technology was published in 2018, it just hasn't had a full use. It is like a ray of light in a dark tunnel, offering amazing transaction speeds that surpass many existing technologies, except for our beloved HIVE network which has very fast transactions, only few know about this network.
Imagine a world where transactions are almost instantaneous, that's what Hashgraph promises. But not only that, it also brings security and efficiency, making it a strong contender in the field of distributed logging technology. So what do you think of Hashgraph now?
But what makes Hedera different from other blockchain networks? Well, there are several aspects that stand out, and they are very interesting to take into account when talking about this network, so pay close attention......
♦️ First, there is the speed and efficiency, I know I already mentioned it, but here I remind you again.
Unlike a traditional proof-of-work blockchain, which relies on a single miner to choose the next block, the community of nodes running hashgraph reaches a collective agreement on which transactions to add to the ledger. This allows Hedera to process hundreds of thousands of transactions per second on a single shard, this is so interesting that it requires a post focused just on how block mining works, but that will be for my next article.
♦️ Secondly, there is security, and this is something we all look for. The hashgraph consensus algorithm has been validated as asynchronous Byzantine fault tolerant (ABFT) by a computer verified mathematical proof. This means that if a transaction is valid and within the appropriate time, the ledger status will be updated to include the transaction with 100% certainty.
♦️ Third, there is the decentralized governance. Hedera is governed by a board of independent global organizations, including companies, web3 projects and prestigious universities. This governance structure ensures that the network is resistant to collusion.
Image created in Bing AI - Edited in Photoshop CC
Behavior of its native token HBAR
HBAR has proven to be a remarkable cryptocurrency in the market, for starters, HBAR current price is approximately $0.1103, as of this writing. This may not seem like much at first glance, but when put into context, the picture becomes much more interesting. HBAR has experienced a price increase of over 36.60% in the last 7 days. This is impressive, especially when we consider that the overall cryptocurrency market is up 6.30% over the same period. In other words, HBAR is outperforming the overall market.
Moreover, HBAR is also outperforming similar Layer 1 (L1) cryptocurrencies, which are up 10.20%. This suggests that HBAR is not only performing well, but is also outperforming its direct competitors.
Now, taking this data into account, we can see that HBAR has been showing solid performance in the cryptocurrency market, I have managed to buy some HBAR tokens when its value was hovering around $0.07 during the month of December, so in a nutshell I can say that I am seeing gains, very little but gains nonetheless.
Image created in Bing AI - Edited in Photoshop CC
Because HBAR can be a token with a lot of potential in this bull run.
I mentioned at the beginning why the HEDERA network differentiates itself from the others, and those are some reasons why the network and its native token can have good adoption for this year, when more users start to see the network with the interest they should be taking in it.
In addition, I already see significant adoption and usage of Hedera. It already has a number of operational applications on its network, and as more developers and companies start using Hedera, the demand for HBAR could increase, and with it of course its value will also skyrocket, and I expect that to happen this year, as it is really getting a good uptake by many users.
I have also noticed some market predictions that suggest that the price of HBAR could increase significantly in 2024. Although it is always important to remember that market predictions are just that, predictions, and there is always a risk associated with investing in cryptocurrencies, so we cannot rely only on a possible prediction of the upcoming value of the token, but if we study it very well we will notice what are the possible characteristics that will give it that value.
These factors, combined with the growing interest in cryptocurrencies and blockchain technology and the long-awaited Halving of Bitcoin, make me think that HBAR is a cryptocurrency to watch out for in 2024. However, as always.
Image created in Bing AI - Edited in Photoshop CC
Can this token really make us a lot of money, and why?
The possibility that the HBAR token can generate significant profits depends on several factors, so let's make a final review of what are the real points to take into account that can make you take a real interest in the token and its network, this final summary is for those who were a little lazy to read all of the above, as I understand that some only jump to the end of the article, so here I summarize 4 points of interest for a revaluation of HBAR.
♦️ First of all, Hedera's hashgraph technology is impressive, it is fast, secure and efficient. This could make HBAR very attractive to investors. In other words, people could see value in HBAR because of its superior technology.
♦️ Second, the adoption of the Hedera network is a key factor, if more developers and companies start using Hedera, the demand for HBAR could increase. This means that more people will want HBAR, which could drive up its price.
♦️ Third, Hedera decentralized governance is a big attraction. Investors may be interested in cryptocurrency projects that are not controlled by a single entity. This means that there is no single group or individual that has all the power over HBAR.
♦️ Fourth, and very important to mention, is the limited supply of HBAR tokens. Currently, there are 21 billion HBAR tokens in circulation, with a maximum supply of 50 billion tokens. This limited supply could cause the demand for HBAR to increase, which in turn could drive up its price.
Do you think there is another point to take into account to see a real increase in the HBAR token? It would be great to see your opinion in the comments, so here I leave my article today, with information that may be useful to you and I also invite you to investigate further about the network and its native token, as well as explore the Dapps that are aliquoted there, because it really is a very complete ecosystem.
Thank you all for reading this article, and I hope you have a happy day....
Follow me on Twitter.
English is not my native language, so I have used Hive Translator.