Hedera price in euros

According to its own website, Hedera is a fully open-source, public proof-of-stake network on which decentralised apps run, with HBAR as its native coin. Leemon Baird and Mance Harmon founded Hedera; Baird invented the hashgraph algorithm the network runs on. The mainnet went live on 24 August 2018 and has been open to everyone since 16 September 2019.

Hedera does not describe itself as a blockchain but as a distributed ledger: a shared ledger that works with hashgraph. As Hedera explains the difference, the blocks in a blockchain must form a single chain, and when two blocks are created at the same time, one of them is discarded. In hashgraph, every batch of transactions is included and nothing is lost. The nodes tell each other not only about transactions but also about what they previously heard from one another (gossip about gossip). From this, each node calculates how the others would vote, without any actual votes being sent (virtual voting). According to hedera.com, a transaction is final in less than 3 seconds and can no longer be reversed.

The network is governed by the Hedera Council, made up of organisations from different sectors and countries. Each member has an equal vote, including on software updates and pricing on the network, and serves for a limited term. At present, the nodes are run only by council members; Hedera therefore describes itself as a public network with invitation-only nodes. Since 2024, the source code has been hosted by the Linux Foundation Decentralized Trust, as the Hiero project.

When the mainnet launched, 50 billion HBAR were created; according to the whitepaper, that number is fixed. You use HBAR to pay transaction fees. These are set in dollars, starting at $0.0001, and converted into HBAR for each transaction. Anyone who links their HBAR to a node (staking) helps secure the network and can receive a reward. The HBAR remains free to use: there is no lock-up period, and nothing can be taken away as a penalty (no slashing).