What is Hedera Hashgraph (HBAR) Coin?

Hedera Hashgraph is a cryptocurrency network where anyone can transact and deploy applications, but a group of entities oversee the software.

This platform is characterized by high transaction speeds, but allows only approved nodes to participate in determining transaction history. These design changes ensure that transactions happen quickly and precisely, but also reduce the likelihood of later changes to the state of transactions.

How Does Hedera Hashgraph Work?

Hedera Hashgraph is characterized by a data structure called "hashgraph", which it claims to perform transactions in a cheaper way. Hashgraph is a patented algorithm in which all nodes share their information continuously. This algorithm determines the history of transactions using a limited number of nodes to ensure that they cannot be undone later.

Creators of the Hedera Hashgraph

Hedera Hashgraph was created by computer scientist Leemon Baird and technology executive Mance Harmon. In 2015, the duo founded a company called Swirlds to develop their own technology. Swirlds created and managed Hedera using this technology.

Hedera Hashgraph Governance

Hedera Hashgraph is governed by the Hedera Board of Directors. This board has 39 members, including Google, IBM and Boeing. The role of the board is to manage the software, vote on changes, ensure that funds are allocated correctly and maintain the legal status of the network. Each member can stay on the board for a certain period of time and has equal voting rights.

The Future of the Hedera Hashgraph

Hedera Hashgraph was launched as a private network, but plans to go public in the future. In the process, more organizations are expected to join the network. As a result, Hedera Hashgraph aims to provide a service that combines the advantages of public and private blockchain networks. In the future, the team plans to open the nodes to a wider community, which could contribute to further adoption and growth of the platform.