Millions Coming to Hedera | Will HBAR Beat Solana SOL?

The Hedera Consensus Service (HCS) acts as a trust layer for any application or permission network and allows for the creation of an immutable and verifiable log of messages. Application messages are submitted to the Hedera network for consensus, given a trusted timestamp, and fairly ordered.

So, people can use HCS to track assets across a supply chain, create auditable logs of events in an advertising platform, or even use it as a decentralized ordering service. Let’s discover more about this interesting project.

Why Hedera is Growing So Much?

Hedera is an open-source Proof-of-Stake blockchain, powered by the hashgraph distributed consensus algorithm. That puts three services on the table:

  • Smart contract services: Developers are able to program in Solidity and use an Ethereum Virtual Machine or EVM called Besu. One optimized for Hedera.
  • Consensus services: This makes it possible for applications to “tap into” Hedera’s tamper-proof blockchain. For example, submitting messages to the public ledger and even encrypting them. Messages that are final once that happens and can be used for various contracts, applications, and so on.
  • Token services: More specifically anything from minting to managing fungible as well as non-fungible tokens on Hedera. Even 10,000 transactions per second at very low fees are possible, with immediate finality.

HBAR Use Cases

The HBAR cryptocurrency lies at the center of this ecosystem, with two main roles:

  • Developers use it to pay for various network services such as transfers and token management. So the role of let’s say fuel.
  • Nodes use it for staking or proxy staking, so the network protection role. This weighted voting system provides disincentives for bad actors who want to deploy malicious strategies. Because they’d need more than a third of the HBAR supply to do so.


In terms of governance, a diverse group of major companies are council members that can have a say in the future of the protocol.

While Hedera may not be the most decentralized project out there. Use cases abound, from payments and tokenized asset creation to credential verification and private ledger building. Perhaps the main idea is that what it lacks in terms of decentralization, it makes up for professionalism.

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