Hedera (HBAR) Coin: Supply Amount, Denomination and H Symbol

Bittime - Hedera Hashgraph (HBAR) is the native asset of the Hedera network, which is known as an energy efficient cryptocurrency. HBAR has two main roles: as network fuel and as a network protection tool.

Dual Role of HBAR

1. As Hedera Network Fuel

HBAR is used to pay application transaction fees and network services. Developers utilize HBAR for various purposes, such as transferring HBAR, minting fungible and non-fungible tokens, calling smart contracts, and recording data. 

Each transaction submitted to the network requires HBAR to pay a fee that compensates consensus nodes for bandwidth, computing, and storage. 

Thus, HBAR functions as a tool to ensure smooth network operations.

2. As Network Protection

Hedera operates as an open source public network with a proof-of-stake mechanism. 

When HBARs are staked on network nodes, they have a significant influence on the consensus in processing transactions. 

This weighted voting system makes it difficult and expensive for bad actors to negatively influence the consensus, as it would require more than a third of the total supply of HBAR to do so.

This provides an additional layer of security for the Hedera network.

Read too Hedera Price (HBAR)

HBAR Supply Amount

Hedera has a fixed supply of 50 billion HBAR. Of this amount, there are currently around 38.2 billion HBAR circulating on the market. 

This limited supply is designed to maintain the value of the HBAR and prevent excessive inflation.

HBAR Denomination

HBAR has several official denominations, which makes it easier for users to make transactions. The following are the HBAR denominations:

- Gigabar: 1 Gℏ = 1.000.000.000 ℏ

- Megabar: 1 Mℏ = 1.000.000 ℏ

- Kilobar: 1 kℏ = 1.000 ℏ

- News: 1 ℏ = 1 ℏ

- Millibar: 1.000 mℏ = 1 ℏ

- Microbar: 1.000.000 μℏ = 1 ℏ

- Tinybar: 100.000.000 tℏ = 1 ℏ

This denomination provides flexibility in transactions, allowing users to make payments in amounts that suit their needs.

Meaning of Symbol H in HBAR

The symbol for HBAR is ℏ, which is written in lowercase and italics. 

Hedera's company logo features the capital letters HBAR (Ħ), but the currency symbol is ℏ. 

Writing HBAR can be compared to writing USD for US dollars. 

This helps in differentiating between the currency name and its symbol.

Read too Latest Hedera (HBAR) Coin Price Prediction, Can It Rise to What Level?

Conclusion

HBAR is a cryptocurrency that offers high efficiency and security in transactions. 

With fixed supply and multiple denominations, HBAR provides flexibility for users and developers in the Hedera ecosystem. 

This network has the potential to become one of the leading solutions in the world of cryptocurrency, thanks to its speed and low transaction fees. 

With the support of hashgraph technology, Hedera seeks to overcome many of the challenges faced by traditional blockchains.

Read too Hedera Price Prediction (HBAR) 2024, 2025, 2030

FAQ

Is Hedera Too Cheap?

Hedera (HBAR) is considered by some analysts to be undervalued, especially when compared to the potential of its technology and partnerships. However, this assessment is highly subjective and depends on market analysis and future developments.

Who Owns Hedera?

Hedera is managed by the Hedera Governing Council, which consists of leading organizations from various industries. 

Members of this board include major companies such as Google, IBM, and Boeing, but no single entity "owns" Hedera in its entirety.

Is Hedera Supported by Google?

Yes, Hedera is supported by Google, which is a member of the Hedera Governing Council. 

Google plays a role in the development and management of the Hedera network, providing technical and infrastructure support.

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Reference

Hedera Official Website, HBAR, Accessed December 7, 2024

Author: IN