It has been a long time since the cryptocurrency industry was first introduced and honestly, the industry has had a wonderful journey so far in being able to attract potential investors from all over the world and manage to make a name for itself in the world. market. Not only that, as mentioned, the industry has seen a spike in its overall growth and popularity recently, which has helped it reach greater heights!
Having said that, I think most of you are already familiar with the basics of the industry and I’m sure you’re eagerly waiting for us to start with what we have today, but for some of you who are new to this, in general, it’s best if we take a brief look at the industry first.
To begin with, cryptocurrencies, as the name suggests, are nothing more than a form of online or virtual currency that can be easily used for a variety of purposes, including buying and selling goods and services, as well as trading and the exchange. about cryptocurrency exchanges available online.
In other words, crypto is a blockchain-based platform that is known to be decentralized to its core. Being decentralized, the crypto world becomes more than capable of getting out of the general control and jurisdiction of central authorities and can also function freely without unnecessary government interference.
Also when the industry was first introduced there weren’t many coins to choose from and honestly not many people were looking to be a part of it either as people back then were very skeptical of the return on investments they could expect. , as well as the safety of your money as well.
Surely that is no longer the case, as today, we have pools of coins available for investors to choose from, with new ones coming in every passing day and tons of new investors joining every hour.
Speaking of many coins available on the market today, some of the most popular ones worth investing in include Bitcoin, Cardano, Baby Doge, Ethereum, Dogecoin, Polkadot and Binance Coin, PancakeSwap and EverGrow Coin to name just a few. . of course. On top of this, it feels quite interesting to see such a rapid growth of the industry in the last two years and so let’s look at some of the main factors that contributed to this huge success including portability, high profit margins, volatility, negligible response time, convinces what it offers, intuitive nature and ease of use of course.
Being volatile, it is important for you to be aware of the fact that it is not always possible to predict price changes and act accordingly, as price fluctuations in the crypto market are almost immediate, thus leaving no time to to plan. Therefore, whenever you trade currencies online, keep in mind that if the industry gives you the opportunity to make big profits and make quick money, if not done right, you could also end up with significantly large losses.
Not only that, but based on chatter between some of the leading experts in the field, we have come to realize that cryptocurrencies are rapidly progressing to completely revolutionize the global payment system, and from my point of view, it looks like it has already started. . To do so, many merchants and businesses have started accepting cryptocurrencies as an official form of payment from their customers.
Now that you have a brief background on the crypto world, you will be able to understand much better what we have with us today, Hedera. To find out more, I suggest you read on!
Everything you need to know about Hedera (HBAR)
Hedera is nothing more than simply a platform known to be the most widely used and sustainable enterprise-grade public network for the decentralized economy that is said to allow businesses and individuals to easily create powerful decentralized applications (DApps). Not only that, but said platform has been designed to be a fairer and more efficient system that is known to remove some of the limitations that some older blockchain-based platforms usually face, including instability and slow performance.
In addition to this, Hedera is a platform that was funded with the help of an initial coin offering (ICO) in August 2018 and more than a year later, around September 2019, it first launched open access to its network. major. Also, as part of the ICO, investors were able to purchase HBAR at the lowest price possible at the time!
Speaking of HBAR, before we continue, it’s probably worth noting that HBAR is said to be the Hedera platform’s native utility token, which can in fact be used for a variety of purposes on the platform itself, which we’ll get to in a bit. . Also, know that Hedera Hashgraph has two founders, namely Mance Harmon and Dr. Leemon Baird.
Basically, the HBAR token is known to do double duty within the public Hedera network. To begin with, HBAR is identified as the fuel known to power Hedera services, including file storage, smart contracts, and other regular transactions. Aside from this, the token is used to help protect the network, as HBAR users can stake their tokens to help maintain the integrity of the platform.
Coming back to the topic, what makes Hedera stand out from the rest is that unlike most other crypto platforms, Hedera Hashgraph is not actually built on top of a conventional blockchain. Instead, it is said to introduce a new type of distributed ledger technology known as hackograph. On a similar note, this technology is said to allow the platform to improve upon various blockchain-based alternatives in several key areas, including scalability, speed, and cost.
Furthermore, Hedera transactions have an average transaction fee of almost just US$0.0001 and are generally known to reach finality in about five seconds or less. All in all, Hedera Hashgraph claims that it can easily handle over 10,0000 transactions per second (TPS) compared to 5-20 for the most popular Proof-of-Work based blockchains.
Aside from this, such a platform is known to offer various network services including a consensus service that acts as a layer of trust for any network or even an application that needs verifiable and secure event logging. Not only that, it provides a token service that allows users to simply set up and mint fungible and non-fungible tokens (NFTs) on Hedera with just a few lines of code.
Lastly, it offers a smart contract tool that allows developers to build efficient and quite powerful decentralized applications on the platform along with a decentralized file storage service with various features including controlled mutability, proof of deletion, and data-based file expiration. the weather, of course.
Now that we have talked a lot about Hedera, some of you must be wondering whether or not it is a good idea to invest in the platform. If that’s the case, then let’s find out, okay?
Invest in Hedera (HBAR)
As of today, the Hedera price is around US$0.102179 on a twenty-four hour schedule. trading volume of $17,813,076. Not only that, in the last twenty-four hours alone, Hedera’s value has risen 1.20 percent, and with the current market cap of US$2,119,332,231, HBAR is currently placed at the Position #33 according to the CoinMarketCap ranking.
Also, it should be mentioned that the current circulating supply of the Hedera is 20,741,406,793 HBAR coins, with a maximum lifetime supply of around 50,000,000,000 HBAR coins. In the last week alone, the platform price increased by 2.35 percent.
Reading so far, you should have gained a fair understanding of the platform and by now you should be able to determine for yourself whether or not investing in Hedera is the right thing for you. Seeing what it has to offer when combined with its performance in the recent past, as well as its plans for the near future, I certainly believe that Hedera can prove to be a profitable investment in the near future, likely giving it higher returns and there is the chance that your current investment will increase in value. But again, nothing can be said for sure!
As mentioned at the beginning, cryptocurrencies are a highly volatile and extremely uncertain market. Therefore, it is very important that you understand the fact that just like any other currency in the crypto market, Hedera also has its own risks and you should only invest if you are willing to take those risks and bear any and all risks. losses. if required.
If you’re wondering, Where can Hedera be purchased? Let me help you with that. Hedera is currently available on all major crypto exchanges, but some of the popular exchanges that have HBAR listed include Binance, Bybit, KuCoin, OKX, and DigiFinex to name a few.
In conclusion, What do you think of Hedera? Let us know in the comments area below. To learn more about various cryptocurrencies, check out other articles we have on our website. Thank you for your time and if you found our content informative, please share it with your investor friends!
Also read: Top 10 cryptocurrencies to buy in May 2022