What is Hedera (HBAR) crypto and is it environmentally friendly?

Although blockchain -based projects are considered disruptive and environmentally unsafe due to their high power consumption in mining processes, this is an area that is difficult to ignore.

Some projects, however, are said to be environmentally friendly. They emphasize that to help reduce impacts, they buy carbon credits or use less electricity in the mining process.

A day after celebrating World Environment Day, Hedera crypto, which is said to be eco-friendly, is trending. Hedera says it has adopted environmental sustainability as its core value, with strong support from members of its governing council.

According to the network, it buys carbon credits quarterly, as determined by its third-party carbon emission analysis provider, Terrapas.

The HBAR token trended on Monday after it provided some updates.

The network said it is holding a workshop in Austin, Texas, on June 7, led by developer relations engineer Ed Marquez. The workshop will show how to set up a Hedera testnet for making fungible tokens. They can also learn to create a decentralized application (Dapp) in Hedera written in Solidity, an object-oriented programming language.

In addition, on June 9, the head of ServiceNow’s vision and innovation division will showcase Hedera’s transparency, and accountability as part of the corporate environmental, social, and governance (ESG) framework at a Consensus 2022 -themed event.

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Consensus 2022 is a four-day event hosted by CoinDesk to showcase and celebrate cryptos spanning various facets, including blockchain, Web 3, metaverse, etc.

The event will be held in Austin, Texas, from June 9 to 12. More than 500 speakers and approximately 15,000 delegates are expected to participate.

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What is Hedera (HBAR)?

Hedera is an enterprise-grade public network for the decentralized economy where individuals and businesses can create their decentralized applications (DApps).

The network aims to be sustainable. It is designed to remove some, if not all, of the limitations of older blockchain platforms, for example, slow performance and instability.

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Hedera opened its mainnet access in September 2019 after its initial coin offering (ICO) in August 2018. Hedera says it processed more than 10,000 transactions per second (TPS) compared to Bitcoin’s average of three TPS and Ethereum’s 12 .

According to its website, the standard fees at Hedera are also relatively low compared to the two. It charges US $ 0.0001 while the average Bitcoin fee is approximately US $ 22.57 and Ethereum is approximately US $ 19.55.

Also read: Why is Celsius (CEL) crypto falling?

What is Hedera (HBAR) crypto and is it environmentally friendly?Data Source: coinmarketcap.com

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HBAR token:

The HBAR token plays a dual role in the network. This strengthens Hedera’s services in addition to securing the network. It is used for file storage, smart contracts, and other transactions. It is also used to secure the network as users enter their HBAR tokens to maintain the integrity of the platform.

The total supply of HBAR tokens is 50 billion, and its total circulation is 20.74 billion.

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Bottom line:

The Hedera (HBAR) token rose 4.72% to US $ 0.09596 at 11:15 am ET on Monday, while the global crypto market rose more than 3% in the same time.

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