The Hedera Cryptocurrency (hbar) Alternative

It may seem strange to have an article on this topic in this blog, but since hashgraph is a promising technology that I've already talked about in the past, it may be worthwhile to make an exception.

As you may have heard, the Hedera platform is a hashgraph-based network that promises high speeds, very low cost, and a high level of security in it. All this is through the use of a new technology that one of its founders, Dr. Leeman Baird, created over the years. The idea is to use a clever combination of the gossip protocol along with virtual voting to ensure consensus in a network of computers, keeping track of various transactions. Up until now, this network has been used with a series of other applications but as of this year, a financial application has also become available. This takes the form of a cryptocurrency called hbar, which promises to be a worthwhile alternative to the blockchain-based cryptos.

Whether hbar is going to make it or not remains to be seen, since BitCoin, Ethereum, Dash, and some other cryptos have attracted a large enough community to establish themselves, even if they are based on inferior technologies than hbar. Don't get me wrong, I think blockchain tech is amazing and may continue bringing about benefits to its users. Hashgraph, however, is superior in many ways, plus it has a legitimate company behind it, something that inspires confidence in many of its users. Some of these users are established companies such as Boeing, so it's not some hyped tech that may or may not exist a year from now.

Hbar is being traded as of last week (September 17th to be exact) on the internet, after several months of beta-testing. Currently, it is available for trade on major crypto exchange sites, such as Bittrex and it's at a very low price (around 0.036 USD per token), even lower than the ICO one (0.12  USD). You can monitor its price from the Hedera-based site www.hbarprice.com where you can also learn additional information about the company and the various services they offer.

Just like other innovative technologies, a hashgraph-based cryptocurrency seems a bit ahead of its time. In a way, it reminds me of the Julia language, which has been better in many ways than other data science programming platforms, yet it is still to receive the recognition it deserves. Whether this is due to the inertia of the tech people or the excessive promotion that its competitors receive is unknown. Whatever the case, those who make use of such technologies benefit even if the majority of people never fully accept them as worthwhile alternatives. So, I don't expect hbar to dominate the crypto market any time soon, but I'd be interested in following its course.