How to buy Hedera Hashgraph online

Hedera Hasgraph is a cryptocurrency network created to support the deployment of applications, in which a group of businesses oversee the software.

This guide will explain Hedera Hashgraph, its pros, cons and how you can invest. 

Where to buy Hedera Hashgraph

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What is Hedera Hashgraph?

Hedera Hasgraph is a cryptocurrency network that helps individuals deploy applications. However the software is overseen by a group of businesses. To distinguish itself in the industry, the currency has made several trade-offs. For example, the network has been created to support high transaction speeds of its native currency, HBAR, however only approved nodes can take part in the transaction history. By only using a select number of nodes, Hedera Hasgraph is able to achieve finality with greater speeds, thus reducing the likelihood of changes to the state of transactions that may be made later. 

The cryptocurrency was founded by Leemon Baird and Mance Harmon. Baird formerly worked as a computer scientist whilst Harmon worked as a technology executive. They originally founded a company called Swirlds in 2015, which led to the founding of Hedera. Hedera was then renamed to Hedera Hashgraph, to develop and govern a live network using the Hedera technology. Since 2018, the network has raised over $124 million by selling its HBAR cryptocurrency, using any agreement for future token offerings. 

Although Hedera was launched as a private network, it has plans to allow more entities to join until its eventually made public. The development team believes this will give businesses a guarantee, as they can base decisions on the data available. The idea has already caught on, with several large companies acting as nodes within the network. These include IMB, Boeing, Google and the London School of Economics (LSE)

As of August 2021 HBAR has a market cap of $2,253,956,874 with 9.74 billion tokens in circulation. It has a total supply of 50 billion and a fully diluted market cap of $11,900,025,744. One token currently costs $0.23 and reached highs of $0.40 in April 2021.

Pros

Hedera Hashgraph has significantly higher speeds compared to Bitcoin and Ethereum as well as very low transaction fees.

It’s also a unique creation in the cryptocurrency industry. It’s great for enterprises with an emphasis on energy efficiency. 

Cons

The network is limited to ten transactions a second for transactions that use smart contracts. This number is similar to Ethereum and therefore doesn’t give the cryptocurrency any advantage. 

Hedera Hashgraph is a centralized cryptocurrency due to its no-fork policy. This is a major downside for many investors, who choose to invest in crypto due to its decentralized nature.  

How does Hedera Hashgraph Work?

Hedera Hashgraph groups together transactions in something known as a “Hashgraph”. This Hasgraph claims to process transactions at a cheaper rate than existing blockchains. The Hasgraph was originally created for private use, in which all nodes are consistently communicating. As it plans to be released to the public, it will be the first of this algorithm type. 

Hedera uses the Hashgraph consensus mechanism to ensure all computers in its network agree on transaction history. This mechanism is powered by two types of nodes. The first type, consensus nodes, focus on transaction ordering and history. The second type, mirror nodes, relay information to stakeholders throughout the network. By limiting the number of nodes involved, Hedera makes sure that transactions can’t be undone at a later time. This is different from most blockchains, in which the state of the blockchain is determined by users who propose blocks to be added. 

Hedera Hashgraph is governed by the Hedera Governing Council. This council is made up of 39 members including MNC’s such as Google, IMB and Boeing. The council manages the software, votes on changes and allocates funds to the network. Each member on the council can have up to two consecutive turns, each lasting three years. During this time, all members have an equal vote on decisions. 

How to Buy Hedera Hashgraph online

The only way to buy Hedera Hasgraph is by trading ETH and BTC on an exchange. The most popular exchanges are Uniswap and PancakeSwap.

Here’s how you can buy Hedera Hashgraph:

  1. Start by logging into Binance or Coinbase and use a fiat currency to buy ETH or ETC. Transfer this to an external wallet. 
  1. Head over to an exchange and search for HBAR. Select the number of tokens you want to buy. 
  1. Click “Trade” and your transfer will be complete. You will now have HBAR in your wallet instead of your previous cryptocurrency. 

How to Trade Hedera Hashgraph

As Hedera Hasgraph can only be purchased with a limited number of cryptocurrencies, it’s not currently traded. Instead, it is purchased using BTC and ETH and held in a wallet by investors, who hope the currency will increase in value. If you want to trade cryptocurrency, check out the Binance website to find what currencies are most commonly traded.