HEDERA will domain the market in 2024. Here is WHY?
In this post, we’ll look at Hedera, a public network similar to the internet that uses a unique technology known as hashgraph and a proof-of-stake consensus process. Though this may appear complicated, we will simplify it for your convenience.
Hedera Hashgraph stands out in the digital world in the same way that the internet stands out in the area of information sharing. To help you make educated predictions about Hedera’s future, we’ll look at how it operates, the function of its token, H-bar, the people behind it, and tokenomics.
To begin, the internet is a worldwide network that allows for the creation and distribution of material, which most of us use without fully comprehending its mechanics. Similarly, operating a car does not require a thorough understanding of its engine. Hedera’s goal is to make it easier to develop on a decentralized network, which they term hashgraphs.
Before delving into Hedera’s functions, it’s critical to grasp hashgraphs, Hedera’s technical backbone. If you’re familiar with blockchain, you’ve probably heard of the blockchain trilemma, which consists of three issues: decentralization, security, and scalability. A blockchain often succeeds in two of these categories while struggling in the third. Hashgraph technology, on the other hand, promises to be capable of dealing with all three. Hedera, unlike standard blockchains, has a novel structure known as a DAG (Directed Acyclic Graph), which organizes transactions in a precise sequence.
This may sound complicated, but if you’re familiar with how IoTa works, Hedera works similarly. Hedera’s hashgraph technology, like a proof-of-stake blockchain, is based on nodes, which are essentially software servers that record and update network transactions. In theory, anyone, including you, may host a node.
A hashgraph ensures that every event (such as a transaction, message, or smart contract) is recorded in the ledger with four key elements: the timestamp of…