Why Investors Should Know About This undervalued cryptocurrency

What if I told you that there is a cryptocurrency run by a cohort of Fortune 500 companies like Alphabet and IBM, is used for a variety of cool projects and use cases, and can be purchased for only $ 0.10 per. token? And one more thing – this is is not a blockchain. That’s exactly it Hedera Hashgraph (HBAR -1.82%) is.

What is Hedera Hashgraph?

Hedera Hashgraph is a distributed ledger of transactions, just like other cryptocurrencies, but Hedera differs from its peers in that it does not use blockchain technology. Hedera will instead use a consensus algorithm called hashgraph, which was developed by its co-founder, computer scientist Leemon Baird. The Hashgraph technology is patented, so Hedera is unique in that it is the only cryptocurrency that uses this technology. In a hash graph, the different nodes in the network “comment” on each other to create a time-sequenced record of all transactions.

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Fast, cheap and powerful

Hedera says this hashgraph technology is “a faster and more secure alternative to blockchain mechanisms.” Hedera a flow of 10,000 transactions per second with finality in seconds. The other benefit of using Hedera is the low fees – these transactions cost a fraction of a penny. This combination of low cost and impressive performance has resulted in many projects in the Hedera ecosystem.

Top financiers

Hedera is backed by a number of large, blue-chip companies, both within and outside the tech industry. Hedera is overseen by a board of directors that includes executives from tech giants like Alphabet, ServiceNu (A GIFT -0.02%)and IBM; manufacturers like Boeing and Avery Denison; and prominent global telecommunications companies such as Deutsche Telekom and Tata communication.

From streams to drones

It’s great to have this armada of Fortune 500 companies on board, but it’s no use if they do not develop the project. Cryptocurrency skeptics sometimes say that crypto is a “solution looking for a problem”. But Hedera is already used in many real use cases today, and many innovative projects are already being built on Hedera.

For example, Tune.FM is an integrated streaming service on Hedera that says it pays artists on its platform up to 90% of streaming revenue. This generous payout ratio dwarfs the payout of traditional streaming services. Tune.FM has used Hedera to mint and issue its JAM tokens, which can be used to compensate artists through micropayments, as well as NFTs, which can be used by artists to raise funds and give fans access to single ownership of works of art or a limited release per. a favorite artist. Tune.FM chose to rely on Hedera for this project due to its low transaction fees and near instantaneous turnaround times.

Outside of the music world, Neuron is experimenting with using Hedera to track drone flight information, and Avery Dennison’s atma.io cloud platform will work with Hedera to help companies track the footprints of their products through their life cycle using a distributed ledger. Technology.

Is Hedera a purchase?

Thanks to both its consensus-building approach and board of directors stacked with industry-leading companies and the fact that it already seems to be gaining traction across a wide range of industries, Hedera is uniquely positioned in the crypto area. Therefore, I consider Hedera a good addition to a long-term cryptocurrency portfolio for risk-tolerant investors.

It is important to note that we are still in the very early stages of cryptocurrency adoption, so this is likely to be a volatile investment with high risk and high reward. We do not know who the winners and losers will be. But based on his good faith, I think Hedera is a solid choice to include in a basket of cryptocurrencies that may one day become much larger than they are today.

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