Offering secure crypto transactions with zero scalability issues as well as low blockchain technology costs, that's what HBAR is. Who is the founder of HBAR, what is HBAR, and what is interesting about HBAR?
The development of blockchain technology inevitably gives rise to various challenges, ranging from high costs to various scalability problems.
Facing these challenges, HBAR offers innovations that can answer every current blockchain problem.
Let's get to know HBAR, the founder of HBAR, what HBAR is, and what's interesting about HBAR in the following article.
Key Takeaways
1. The founder of HBAR (Hedera Hashgraph) is Leemon Baird, an American computer scientist and expert.
2. Hedera hashgraph is a distributed network that is structurally different from blockchains such as Bitcoin and Ethereum, although it has similar functionality.
3. Smart contracts on Hedera are cheaper, faster, and more secure than traditional contracts.
The innovations offered by HBAR in the form of solutions to scalability problems and reducing the costs of blockchain technology are indeed attracting attention.
HBAR continues to grow, and is slowly gaining a place in the hearts of crypto investors given its solid commitment.
Founder of HBAR (Hedera Hashgraph)
The founder of HBAR (Hedera Hashgraph) is Leemon Baird, an American computer scientist and expert.
Before founding Hedera, Leemon Baird was a computer science professor at the United States Air Force Academy.
Baird created the hashgraph consensus algorithm, the core technology behind Hedera Hashgraph, and patented it through his company, Swirlds, which he founded in 2015.
About the History of HBAR (Hedera Hashgraph)
The history of Hedera Hashgraph begins in 2017, when Baird founded the company with a management team and key investors.
Hedera was officially launched in March 2018 at an event in New York City attended by a live audience and watched by 50,000 online viewers.
During the launch process, Hedera introduced the website, HBAR crypto assets, management board and official whitepaper.
Currently, Hedera Hashgraph's board includes major companies such as Boeing, Google, IBM, LG, Tata Communications, and Wipro, as well as institutions such as University College London, demonstrating broad support from a wide range of industries.
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Get to know what HBAR is
Hedera Hashgraph is an open ledger that uses hashgraph technology, and what is meant by HBAR is a hashgraph-based native crypto asset.
Hedera hashgraph is a distributed network that is structurally different from blockchains such as Bitcoin and Ethereum, although it has similar functionality.
Hashgraph technology uses more efficient security and validation algorithms than blockchain.
Source: https://hedera.com/
Instead of using blockchain, Hedera Hashgraph uses hashgraph technology to implement an open ledger.
Although the algorithm behind hashgraph technology is complex, hashgraph offers a practical alternative to blockchain in supporting open ledgers and crypto assets.
Hashgraph has several advantages over blockchain. It doesn't require mining, so the environmental impact is much smaller.
Additionally, transaction costs are lower, with equivalent security and anonymity, but higher performance and capacity.
Read Also: Reading the Future of Hedera Coin (HBAR)
Interesting Things from HBAR
After knowing the founder of HBAR as well as the history and what HBAR is, next let's review a little about what are the interesting things about HBAR.
1. Applying the Directed Acyclic Graph Concept
The Hedera Hashgraph network is built on the concept directed acyclic graph (DAG) from graph theory.
This structure ensures that data flows forward without returning to a previous state, so that when used for a distributed ledger, transactions that have been added cannot be changed.
2. Implement ABFT Consensus
Hedera implements graphs via a consensus algorithm asynchronous Byzantine fault-tolerant (ABFT).
The ABFT consensus algorithm is faster, more efficient, and simpler than the cryptography-based mechanisms used by traditional blockchains.
According to Hedera, ABFT offers high security, fairness, and efficiency, while reducing transaction costs and energy consumption.
Read Also: How to Buy Hedera Hashgraph (HBAR)?
3. Gossip Protocol on Gossip
Rather than processing transactions in blocks as on a blockchain, Hedera uses a “gossip on gossip” protocol to verify the timeline and validity of transactions before adding them one by one to the network.
On the hashgraph network, the HBAR crypto-asset functions similarly to Ether on the Ethereum blockchain.
4. Cheaper Smart Contracts
Additionally, Hedera supports smart contracts (smart contracts), which allow developers to create distributed applications (dApps).
This application can facilitate the transfer of value and goods without intermediaries such as banks or stock exchanges.
Smart contracts on Hedera are cheaper, faster, and more secure than traditional contracts.
That's a review of the founder of HBAR, what HBAR is, and interesting things about HBAR. Hopefully it's useful.
FAQ
1. Who is the founder of HBAR?
The founder of HBAR (Hedera Hashgraph) is Leemon Baird, an American computer scientist and expert.
2. When was HBAR launched?
Hedera was officially launched in March 2018 at an event in New York City attended by a live audience and watched by 50,000 online viewers.
3. What is HBAR?
Hedera Hashgraph is an open ledger that uses hashgraph technology, and what is meant by HBAR is a hashgraph-based native crypto asset.
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