Connect with us

Investments

Is Hedera Hashgraph (HBAR) a Good Investment?

Published

on

is-hedera-hashgraph-(hbar)-a-good-investment?

Decided Hedera Hashgraph is a good investment? You can get HBAR on crypto.com today!

The Hedera Hashgraph network is a public distributed ledger network that is built using a directed acyclic graph (DAG). Hedera Hashgraph was founded by a Texas software company known as Swirls. The company raised capital for the project through a series of SAFTs (Simple Agreement for Future Tokens) starting in 2018. It’s mainnet was launched in 2019 and currently has partnerships with major institutions such as Alphabet Inc. (NASDAQ: GOOGL), LG Electronics Inc. (KRX: 066570), University College London and many more. 

What is Hedera Hashgraph? HBAR is the native token for the Hedera Hashgraph network. The token is used to power its decentralized applications and serves as the fuel for its ecosystem. The vision of Hedera Hashgraph is “to build a trusted, secure, and empowered digital future for all.”

Although Hedera Hashgraph is a distributed ledger technology, it is important to note that it is not built on top of a blockchain. Instead this technology uses a DAG, which differs from the vast majority of distributed ledger networks — such as Bitcoin, Ethereum, Cardano — that are all built using the blockchain. Hedera Hashgraph also uses a unique consensus mechanism called the hashgraph consensus algorithm, which was invented by the co-founder of Hedera, Leemon Baird. The consensus algorithm uses what is referred to as a “gossip protocol” where the nodes of the network send transaction information to other nodes, and the receipts of this information repeat the process by sending it to additional nodes. This unique consensus algorithm has been validated through mathematical proofs to be asynchronous Byzantine Fault Tolerant (ABFT).

Advertisement

Hedera Hashgraph claims to support 10,000+ transactions per second, which is lightning fast. For reference, Visa Inc. (NYSE: V) handles around 1,700 transactions per second and claims to have the capacity to support 65,000 transactions per second. However, there are major red flags in the transactions per second that Hedera Hashgraph claims to be able to process. The transactions per second supported by the network drops significantly when executing transactions involving smart contracts. Furthermore, transactions involving smart contracts written in solidity tend to cause the transactions per second to drop to 13 to 15 transactions per second because the Ethereum virtual machine (EVM) must be used to run transactions.  

Another important critique of Hedera Hashgraph is its centralization. Hedera Hashgraph is governed by a council of 19 multinational corporations from around the world. Some of these multinational corporations include Google, LG and IBM (NYSE: IBM). These multinational corporations and the founding company Swirls have a great deal of power over the network. Furthermore, until recently the software behind Hedera Hashgraph was patented and closed source. 

Hedera Hashgraph Price History The HBAR token is currently trading around $0.25 as of February 2022. The token has a market cap of over $4 billion and a fully diluted market cap of over $12 billion. The fully diluted market cap is the market cap of the token if the max supply were in circulation. Currently, 18.09 billion HBAR tokens are in circulation, and the token has a max supply of 50 billion tokens. That level accounts for 36% of the max supply currently in circulation. The token is in the top 50 largest cryptocurrencies by market cap. It is currently down from an all-time high of $0.5059. 

Hedera Hashgraph Competition Hedera Hashgraph faces strong competition from other major smart contract platforms. Competitors include well-established networks such as Ethereum, as well as other projects such as Cardano, Solana, Avalanche and Fantom. Although Hedera Hashgraph aims to serve the enterprise blockchain space, nothing prevents big institutions from building their applications on top of these other networks. 

Hedera Hashgraph also faces competition from the many Layer 2 solutions working to help scale Ethereum.  One example would be Polygon and the MATIC network. Ethereum currently has the most users and developers of any smart-contract-compatible distributed ledger technology. If Layer 2 solutions are able to help scale Ethereum, then many institutions may choose to build their applications there instead of on a smaller project such as Hedera Hashgraph.   

Advertisement

How to Buy Hedera Hashgraph The best place to buy Hedera Hashgraph is from a centralized exchange. These exchanges are companies that allow you to purchase cryptocurrencies using fiat money. Unfortunately, many major exchanges such as Coinbase Global Inc. (NASDAQ: COIN) do not support Hedera Hashgraph. Currently, the most reputable exchange to purchase HBAR on is crypto.com. To purchase HBAR through crypto.com you create and then login to your account. Afterwards, you fund your account through your bank account, credit card or other cryptocurrencies. Then convert these funds to HBAR. 

Decentralized exchanges (DEXs) are also a popular way to purchase cryptocurrencies. Some popular DEXs include Uniswap, SushiSwap and Metamask. However, since Hedera Hashgraph is not an Ethereum ERC-20 token, the vast majority of DEXs will not have this token available for purchase. 

Best Hardware Wallet: Ledger If you choose to purchase a significant amount of HBAR tokens, it is extremely important to take the precaution to store these tokens safely. The best place to store your HBAR tokens is on the hardware wallet Ledger. 

Hardware cryptocurrency wallets such as Ledger store access to your cryptocurrencies on an external device. Ledger wallets are a form of offline storage and are not connected to the internet. This feature is beneficial because “hot” wallets that are connected to the internet are much more likely to be exposed to scams, hacks and private key leaks. Ledger wallets currently cost around $60 to $250 depending on the model you choose to purchase. 

buy now securely through Ledger Hardware Wallet’s website

Advertisement

1 Minute Review

Launched in 2014, Ledger has transformed into a fast-paced, growing company developing infrastructure and security solutions for cryptocurrencies as well as blockchain applications for companies and individuals. Born in Paris, the company has since expanded to more than 130 employees in France and San Francisco.

With 1,500,000 Ledger wallets already sold in 165 countries, the company aims at securing the new disruptive class of crypto assets. Ledger has developed a distinctive operating system called BOLOS, which it integrates to a secure chip for its line of wallets. So far, Ledger takes pride in being the only market player to provide this technology.

Best For

ERC-20 tokens All experience levels Pros

Advertisement

Easy to set up and use Supports more than 1,500 different digital assets Tamper proof Portable Long-lasting battery Bluetooth connectivity features Cryptocurrency Market Outlook Here is the current outlook for the cryptocurrency market. The total cryptocurrency market is currently down significantly from the end of last year. If you are interested in purchasing cryptocurrencies, now may be a good time to get in well below past all-time high prices.

Is Hedera Hashgraph a Good Investment? Hedera Hashgraph may not be a good investment in part because of its minimal community. Hedera Hashgraph’s centralization and focus on institutional investors mean that it does not seem to have grown a strong following. Lack of community can have a negative impact on cryptocurrencies because the value of a good or service that a user derives — the network effect — depends on the number of users of the same product or platform. 

The value provided by a platform with great technology may be less than the value provided by a less sophisticated platform if such platform has more users. For example, a social media platform with superior technology would provide little value if you are the only user of the platform. 

Another reason Hedera Hashgraph may be a poor investment is due to the heavy competition it faces from other Layer 1s and Layer 2 solutions. Many competing platforms attempt to create more scalable distributed ledger technology, and it is unlikely that Hedera Hashgraph will come out on top. 

However, the cryptocurrency market is down significantly. Hedera Hashgraph may still see a significant amount of growth if the cryptocurrency market as a whole experiences substantial growth.

Advertisement

Bear Market

Huobi founder Leon Li in talks to sell his shares for up to $3B

Published

on

Huobi founder Leon Li in talks to sell his shares for up to $3B

Huobi founder Leon Li in talks to sell his shares for up to $3B Zeynep Geylan · 46 mins ago · 2 min read

Huobi Group’s founder Leon Li is reportedly in talks with Tron founder Justin Sun and FTX founder Sam Bankman-Fried to sell his majority stake in the exchange.

2 min read

Updated: August 12, 2022 at 11:51 am

Advertisement

Cover art/illustration via CryptoSlate

Crypto exchange giant Huobi’s founder and CEO Leon Li is in talks with investors to sell his majority stake for $2 billion to $3 billion.

According to a Bloomberg News report, Tron founder Justin Sun and FTX founder Sam Bankman-Fried (SBF) are among the interested parties.

Li holds nearly 60% of Huobi Global’s shares. If Li manages to sell them for $3 billion, it’ll mark the largest takeover in the market since the market cap fell below $1 trillion.

A spokesperson from Huobi confirmed Li’s decision and said:

Advertisement

“[Li] hopes that the new shareholders will be more powerful and resourceful, and that they will value the Huobi brand and invest more capital and energy to drive the growth of Huobi,”

So far, spokespeople from FTX declined to comment, and Sun said he didn’t have any negotiations with Li regarding the sale.

Huobi Global

Li launched Huobi global in 2013, and the company became one of the largest crypto exchanges. However, it lost momentum when it shut down operations in China in November 2021. The decision came after the Chinese government deemed crypto transactions illegal. The decision hit Huobi harder than any other exchange, as China was Huobi’s primary market.

The exchange has expanded overseas to countries like Turkey and Brazil and is currently considering expansion by obtaining a FinCen license. However, giants like Binance and FTX appear to be Huobi’s competitors in those regions.

Li’s decision to sell his shares was leaked in July 2022 but wasn’t confirmed. At the time, Huobi was also expected to downsize and lay off around 30% of its staff — roughly 300 people. The exchange said that the bearish market conditions posed a financial challenge and that the company would cut costs, including layoffs.

Emergence of M&A

FTX has been bullish on Mergers & Acquisitions since the beginning of the bear market. At the end of May, FTX U.S. president Brett Harrison said that FTX was looking to spread worldwide by acquiring companies with the necessary regional licenses. He said:

Advertisement

“We’re doing that globally, in places like in Japan, Australia, in Dubai, different places where we’ve been able to either partner with local companies or sometimes do acquisitions to be able to get licenses that we need,”

On the other hand, SBF was sure that many crypto exchanges and mining companies would fail in the current winter market. SBF said that he saw this as an opportunity to purchase companies that need a saving hand.

Following his words, FTX approached Bithumb, BlockFi, and Voyager Digital to purchase their organizations.

Continue Reading

BitMex

Circle to ‘fully and solely support Ethereum PoS’

Published

on

Circle to ‘fully and solely support Ethereum PoS’

Circle to ‘fully and solely support Ethereum PoS’ Oluwapelumi Adejumo · 8 hours ago · 1 min read

Circle said it would not have any problem with the Merge, and USDC will function efficiently on a PoS blockchain.

1 min read

Updated: August 9, 2022 at 5:42 pm

Advertisement

Cover art/illustration via CryptoSlate

USD Coin (USDC) issuer Circle has revealed that it would fully support the Ethereum (ETH) proof-of-stake (PoS) chain post-merge.

According to an Aug. 9 blog post, the stablecoin issuer was looking forward to “the future scaling opportunities (the Merge) unlocks as well as the reduced energy consumption profile of the network.”

While we don’t speculate on the possibility of forks post Ethereum Mainnet merge, USDC as an Ethereum asset can only exist as a single valid “version,” and as stated previously, our sole plan is to fully support the upgraded Ethereum PoS chain.

Additionally, the issuer clarified it would not have any problem with the Merge, and USDC will function efficiently on a PoS blockchain.

Circle’s testing environment is connected to the Goerli Ethereum testnet, and we will monitor closely as it merges with Prater in the coming days.

It means the two largest stablecoins in the crypto space, USDT, and USDC, will not support any potential hard forks of ETH.

Advertisement

Circle’s USDC is not only the largest fiat-backed stablecoin on Ethereum but also the biggest ERC-20 asset within the ecosystem.

Meanwhile, crypto exchanges like Huobi, OKX, Poloniex, BitMEX, and others have revealed that they would support ETH hard forks if there is enough demand in the market.

Continue Reading

Banking

Pictet Group tells private banks to stay away from crypto

Published

on

Pictet Group tells private banks to stay away from crypto

Pictet Group tells private banks to stay away from crypto Monica Noronha · 2 hours ago · 2 min read

Pictet’s Asia arm CEO Tee Fong Seng said that though cryptocurrencies have potential, now is not the right time for private banks to invest.

2 min read

Updated: August 4, 2022 at 8:23 pm

Advertisement

Cover art/illustration via CryptoSlate

Amid the current market meltdown, Swiss wealth management firm Pictet Group is cautioning private banks against investing in crypto, Bloomberg News reported Aug 4.

Speaking on a panel at the Bloomberg Asia Wealth Summit in Singapore, CEO of Pictet Group’s Asia wealth management arm Tee Fong Seng said:

“Crypto will be an asset class that we cannot ignore, but today I don’t think there is a place for private bankers and for private bank portfolios.”

The crypto market saw one of the most devastating turmoils over the past few months, triggered by the collapse of the TerraUSD (USDTC). Terra’s downfall created a serious liquidity crisis among several crypto lenders that led to the bankruptcy of crypto hedge fund Three Arrows Capital, Celsius Network and Voyager Digital.

Other lenders battling liquidity issues are working on restructuring plans while some, like Vauld and Zipmex, have sought bankruptcy protection to figure out a solution. Additionally, the past few weeks have seen a slew of hacking exploits with hundreds of millions lost.

Advertisement

While private banks shunned crypto a few years ago, with the market skyrocketing since 2020, some banks have warmed up to it. In May, Swiss bank Julius Baer Group Ltd announced that it will offer crypto services to wealthy clients. Last year, Citibank said that it would develop crypto-related services due to growing client interest.

Tee said:

“If you look at the volatility for the last two years, you can make a lot of money, you can lose a lot of money.

The question is, when do we bring the clients into the picture?”

Not everyone is scared of crypto

According to Nanda Ivens, chief marketing officer at Indonesian digital trading platform Tokocrypto, venture capital funds and institutions are displaying more interest in the crypto space, despite the recent turmoil, Bloomberg reported. For instance, Indonesia-based crypto fund Cydonia Capital raised $100 million

As an example, he cited Indonesian crypto fund Cydonia Capital recently raised $100 million, Ivens said.

Advertisement

“There is a lot of interest for Web3 projects, especially when there are positive, good deal flows coming through those Web3 venture capital funds.”

But still, most remain wary of the crypto market and its prospects, despite the recent rallies. Rich Teo, co-founder and CEO of Paxos Asia said he is “bearish” on crypto and expects more “deleveraging.”

Continue Reading

Top posts

․bit Raises $13M To Build Cross-Chain Decentralized Identity Protocol ․bit Raises $13M To Build Cross-Chain Decentralized Identity Protocol
BIT1 hour ago

․bit Raises $13M To Build Cross-Chain Decentralized Identity Protocol

sponsored .bit (did.id) has raised $13 million to build a cross-chain decentralized identity protocol. The Series A round, completed one...

What a complete yolk! Comparing Bitcoin to Eggs and why it matters What a complete yolk! Comparing Bitcoin to Eggs and why it matters
adoption2 hours ago

What a complete yolk! Comparing Bitcoin to Eggs and why it matters

What a complete yolk! Comparing Bitcoin to Eggs and why it matters Liam ‘Akiba’ Wright · 4 seconds ago ·...

Why Hashing Is Critical In Ensuring Sage Encryption In Cyber Security Why Hashing Is Critical In Ensuring Sage Encryption In Cyber Security
Cyber Security3 hours ago

Why Hashing Is Critical In Ensuring Sage Encryption In Cyber Security

Hashing is really important for integrated encryption in cyber security Assuming you work in the innovation or cyber security industry,...

New Brazil bill wants to tokenize mined gold on blockchain New Brazil bill wants to tokenize mined gold on blockchain
adoption3 hours ago

New Brazil bill wants to tokenize mined gold on blockchain

New Brazil bill wants to tokenize mined gold on blockchain Oluwapelumi Adejumo · 60 mins ago · 1 min read...

Solana Price Climbs To $47 As SOL Bulls Outshine Pesky Bears Solana Price Climbs To $47 As SOL Bulls Outshine Pesky Bears
btcusd3 hours ago

Solana Price Climbs To $47 As SOL Bulls Outshine Pesky Bears

Solana (SOL) price has locked its sights on the goal from day one. Solana’s price is extremely bullish Price spiked...

President Of Central Bank Of Brazil Disagrees With ‘Heavy Hand’ Regulations For Cryptocurrencies President Of Central Bank Of Brazil Disagrees With ‘Heavy Hand’ Regulations For Cryptocurrencies
Brazil4 hours ago

President Of Central Bank Of Brazil Disagrees With ‘Heavy Hand’ Regulations For Cryptocurrencies

The president of the Central Bank of Brazil, Roberto Campos Neto, has defended the use of more moderate regulations in...

Interlay launches Bitcoin-backed stablecoin iBTC on Polkadot network Interlay launches Bitcoin-backed stablecoin iBTC on Polkadot network
adoption4 hours ago

Interlay launches Bitcoin-backed stablecoin iBTC on Polkadot network

Interlay launches Bitcoin-backed stablecoin iBTC on Polkadot network Samuel Wan · 1 hour ago · 2 min read The new...

TA: Top 5 Crypto You Should Watch This Week – BTC, ETH, BNB, GMT TA: Top 5 Crypto You Should Watch This Week – BTC, ETH, BNB, GMT
Bitcoin5 hours ago

TA: Top 5 Crypto You Should Watch This Week – BTC, ETH, BNB, GMT

Top 5 Crypto You Should Watch This Week, with many crypto altcoins producing price gains of two or more digits....

Bitcoin, Ethereum Technical Analysis: BTC Lower, Following Brief Rally Above $25,000 Bitcoin, Ethereum Technical Analysis: BTC Lower, Following Brief Rally Above $25,000
Analysis5 hours ago

Bitcoin, Ethereum Technical Analysis: BTC Lower, Following Brief Rally Above $25,000

Bitcoin was trading lower to start the week, after the token briefly rose above $25,000 during Sunday’s session. As of...

Monero enhances privacy, security features with new upgrade Monero enhances privacy, security features with new upgrade
Monero6 hours ago

Monero enhances privacy, security features with new upgrade

Monero enhances privacy, security features with new upgrade Oluwapelumi Adejumo · 2 hours ago · 2 min read The Monero...

Report Shows Crypto Assets Record Steady Growth As Inflation Lowers Report Shows Crypto Assets Record Steady Growth As Inflation Lowers
BTC6 hours ago

Report Shows Crypto Assets Record Steady Growth As Inflation Lowers

The United States’ newest release on its inflation rate for July has created a celebration reason for many, especially the...

MANA’s network activity could bring forth a shorting opportunity here MANA’s network activity could bring forth a shorting opportunity here
Altcoins8 hours ago

MANA’s network activity could bring forth a shorting opportunity here

Every once in a while, cryptocurrencies go through a phase where volumes contract and prices are restricted within a narrow...

Monero (XMR) Climbs Over 7% Before Weekend Hard Fork Monero (XMR) Climbs Over 7% Before Weekend Hard Fork
btcusd8 hours ago

Monero (XMR) Climbs Over 7% Before Weekend Hard Fork

Monero (XMR) price has surged by as much as 7% in a matter of 24 hours before network upgrade or...

USDT supply up almost $2B over 30 days, USDC supply falls after blocking Tornado Cash linked wallets USDT supply up almost $2B over 30 days, USDC supply falls after blocking Tornado Cash linked wallets
MIM8 hours ago

USDT supply up almost $2B over 30 days, USDC supply falls after blocking Tornado Cash linked wallets

USDT supply up almost $2B over 30 days, USDC supply falls after blocking Tornado Cash linked wallets Oluwapelumi Adejumo ·...

Ripple lawsuit: SEC receives another shock after latest court ruling Ripple lawsuit: SEC receives another shock after latest court ruling
News10 hours ago

Ripple lawsuit: SEC receives another shock after latest court ruling

American watchdog SEC took a recent hit as the battle against Ripple moved into an interesting phase this week. There...

Leading European Tire Retreader Vaculug To Accept Crypto Payments Leading European Tire Retreader Vaculug To Accept Crypto Payments
Bitcoin11 hours ago

Leading European Tire Retreader Vaculug To Accept Crypto Payments

Vaculug, a British company that brands itself as Europe’s largest independent tire retreader, will now accept cryptocurrencies for its products...

Ethereum’s metrics that could determine your portfolio value this week Ethereum’s metrics that could determine your portfolio value this week
Altcoins11 hours ago

Ethereum’s metrics that could determine your portfolio value this week

It is not usual for the crypto markets to be dominated by an altcoin. But this seems to be the...

Pre-Merge: Here’s the full scope of the ETH 2.0 Deposit contract Pre-Merge: Here’s the full scope of the ETH 2.0 Deposit contract
Ethereum14 hours ago

Pre-Merge: Here’s the full scope of the ETH 2.0 Deposit contract

Ethereum, the world’s largest altcoin, continues to create headlines ahead of the upcoming Merge. As expected, it has been seeing...

Trending

Daily Bitcoin MiningEarn At least $50 daily with just your phone