Developed by Dr Leemon Baird and Mance Harmon, Hedera (HBAR) is perhaps one of the unique enterprise -branded public networks, allowing individuals and businesses to create unique decentralized applications (DApps).
Working on proof-of-stake consensus, it aims to be a mix of both: path to unauthorized and path to mass coin distribution to ensure the network remains secure and decentralization is achieved. The protocol is designed in such a way that the system is fairer and more efficient compared to its peers. Moreover, it has the ability to eliminate issues faced by other blockchain platforms.
On February 15, HBRAR crypto rallied more than 16% and a volume gain of more than 200%.
Why is the HBAR token high?
Named the greenest cryptocurrency, the HBAR token seems to be rallying following news of the auction of eight tokenized assets, which include NFTs in the Hedera Token Service. This is expected to guarantee a fair ordering system in the Hedera network.
Hedera’s rising popularity has seen it as one of the fastest growing blockchain projects to date. In fact, the Hedera protocol has support from the world’s leading organizations such as Alphabet, IBM, ServiceNow, and Chainlink Labs.
One of its unique features is that unlike the others, it is not built on top of a conventional blockchain network and instead incorporates a distributed ledger technology, known as Hashgraph. It is estimated that Hedera with superior transaction speed is capable of handling 10,000 TPS.
How about the HBAR token?
The HBAR token was ranked 33rd and traded at US $ 0.261145 with a volume of US $ 191,297,744 in one day according to CoinMarketCap. During the drafting period, the HBAR coin rose 16.81% in one day. HBAR crypto has a live market cap of US $ 4,724,851,220 with 18,092,792,421 HBAR coins supply in circulation.
Leading companies, recently, have adopted the unique HBAR protocol to develop a variety of projects. Companies such as the Coupon Bureau use it to combat US $ 100 million worth of annual retail fraud in the US. Similarly, the IBM Blockchain Platform uses it for various auditable transaction ordering.
HBAR’s growing reputation as a unique protocol, which keeps the system fairer and more efficient, has attracted many investors to its platform. They will be encouraged by the recent rally and hope that this rally will continue for some time.