Why Hedera Hashgraph (HBAR)?
Hedera Hashgraph is one cryptocurrency project that’s taken a completely different approach to creating distributed ledger technology.
Over the past years, Hedera Hashgraph has made incredible strides towards institutional adoption and has secured multiple institutional partnerships putting the crypto project ahead of many in the area of enterprise-focused projects by the end of 2021.
Hashgraph is an open review consensus algorithm developed in 2016 by Dr. Leemon Baird.
Hedera is the decentralized public network and governing council-owned and governed by a global council, including Baird’s company Swirlds Corporation.
HBAR’s coins are used to power decentralized applications, make payments, and secure Hedera’s Proof-of-Stake network. Dr. Leemon Baird’s Hashgraph technology is a compelling alternative to blockchain, now popularly called the next-generation blockchain.
As a blockchain, Hashgraph is a decentralized and public distributed ledger. However, the way it works differs from blockchains in several ways and even offers some vast improvements.
Hashgraphs make use of DAG- Directed Acyclic Graph architecture which is much different from native blockchain architectures.
Hashgraphs solve the same problems that a blockchain does but differently.
Hedera Hashgraph brings three primary services to general users and developers in the crypto space.
- A cryptocurrency that can handle up to 10,000 transactions per second.
- Offers Scalable Smart Contracts.
- File Service.
The potential applications of Hashgraph, similar to blockchain, are infinite, from settling micropayments to music and intellectual property rights, supply chain management, decentralized advertising, DeFi, IoT, etc.
There are over 300 Dapps built on the Hashgraph platform, including the Digital Health and Connected Diagnostics Platform, SAFE Health System Inc, used by over 150,000 users at Delta, Arizona State University the Coupon Bureau.
Below is a list of decentralized applications built and now Live on the Hedera Mainnet:
ADPROV, ADSDAX, ALL OVER CHAIN, ARMADA CHAIN, BINSIGNIA, CARBON, CERTARA, CHAINLINK, COINSQUAD, EARTHTILE, EVEC, HASH-HASH, HASHING SYSTEMS, HABRPRICE, HEX, HMANAGER, INTELLECTUAL PROPERTY VAULT, LONESTAR DATA TECHNOLOGIES, MYEARTH.ID, MYHBARWALLET, OTRAFY, PLAYHASH, POWER TRANSITION, REJOLUT, TUNE.FM, ZABO.
You can get more details of these applications at www.hedera.com/users.
Future of Hedera Hashgraph (HBAR) Token
Ongoing Development on the Hedera Hashgraph Project
The Hedera Hashgraph project currently has 55 repositories on its Github page, with hedera-services as the main repository, MyHbarWallet, hedera-wallet-android, and hedera-wallet-ios as wallet repositories.
The main hedera-services repository currently has 44 releases, 16 contributors, 4260 commits, three open pull requests, 454 closed pull requests, and nine merged pull requests.
Presently, there are three releases for the MyHbarWallet, eight contributors, 2168 commits, three open pull requests, 210 closed pull requests, 19 open issues, and 184 closed issues.
The hedera-improvement proposal is another crucial repository of the Hashgraph project with eight contributors, 66 commits, one open pull request, 15 closed pull requests, three merged pull requests and ten closed issues.
Hedera Mirror node
The following are companies that are council members of Hedera Hashgraph. They include Boeing, Telecom, Google, IBM, TATA communication, LG, and more, all come together for Hedera Hashgraph.
Hedera Hashgraph (HBAR) Roadmap 2021
- (Network) Phase – 1: Additional Network Automation
- (Network) Hedera Token Service
- (Demos) – HTS Demo
- (Ecosystem) – HTS Exchange Integrations
- (Ecosystem) HTS Wallet Integrations
- (Ecosystem) HTS Custody Integrations
- (Network) Mirror Node Rosetta API Integration
- (Ecosystem) Community SDKs
- (Network) HCS Scaling
- (Demos) HCS-Based NFT Demo
- (Network) Phase 2 – Additional Network Automation
- (Network) State Proofs
- (Network) Scheduled Transactions
- (Network) Automated Congestion Pricing
- (Ecosystem) HBAR Wallet Integrations
- (Ecosystem) Digital Asset Platform Integrations
- (Ecosystem) Interoperability Integrations
- (Demos) Validators Network Demo
- (Demos) Interoperability demo
- (Network) – Phase 3 Additional Network Automation
- (Network) – Matching Transactions
- (Network) – Sharding
- (Network) – Open Node Monitoring
- (Network) – Full Mirror Node
Hedera Hashgraph Major Partnerships:
- IBM and Tata Partner with Hedera Hashgraph – link
- Hedera Hashgraph (HBAR) partners with Google on 11th Feb 2020 – link
Hedera Hashgraph (HBAR)’s Competition analysis with similar projects
Comparing HBAR Hashgraph to Bitcoin and Ethereum based on Transaction fee and Security
With Bitcoin and Ethereum’s transaction speeds at 7 TPS and 15 TPS, respectively, HBAR’s Hashgraph transaction speed is at 10k TPS. Transaction fees on Ethereum and Bitcoin can be up to $0.03 – $10.00 or more in some cases where the network is congested.
With no miners to compensate as Hedera Hashgraph use a Proof-of-Stake consensus algorithm, fees on the network can stay at $0.0001 irrespective of the network congestion and paid in HBARs, making it stable and attractive for enterprise use and adoption.
Bitcoin and Ethereum currently use the Proof-of-Work consensus algorithm, while Hashgraph using an aBFT Asynchronous Byzantine Fault Tolerance algorithm claims to have the highest level of Security for a consensus algorithm.
Hashgraphs aBFT algorithm can achieve consensus with 100% finality by assuming that messages within honest nodes will be delayed or never reach their recipient, such as in a case of a malicious attack.
Hedera also doesn’t require energy-heavy Proof-of-Work resources.
For diversity and stability, Hedera is backed by a council of 39 term-limited organizations and Blue-chip enterprises representing 18 industries worldwide, including Australia, Japan, South America, and India.
HBAR Token 2021 Price Levels and Projections
HBARUSDT Monthly Chart Analysis
The HBARUSDT recently broke out of an upward channel formed by both bearish and bullish divergence structures on 22 February ’21 and 01 March ’21, reinforcing confidence to resume the upswing.
The uptrend started on 30 November ’20 after the RSI entered the overbought area and never went back to the oversold.
HBAR/BTC Monthly chart
The HBARBTC exchange rate trades near the 10 August ’20 resistance zone and immediately starts a decline.
The 0.00000502 resistance signals that BTC investors may start moving their funds out of HBAR and into BTC.
We expect a price correction from here and a continuation of the up move after the RSI drops below level-70.
As a reminder, we are still in a bullish trend, as the bulls took over on 18 January ’21 after entering the overbought area with a closing price at 0.00000291.
What will be the price of Hedera Hashgraph (HBAR) at the end of 2021?
Following the technical chart setups on the HBAR chart and the Github page’s activities, the HBAR price is projected to roughly 2.34791 in 2021.
HBAR Token 2022 Price Levels and Projections
In the year 2022, the Hedera Hashgraph dropped 47% so far. The downside in the price could be concluded as the continuation of the long bearish trend that began last year.
In addition to that, the fall in the price coincided with the broader crypto market fall, which is still can be seen in the prices.
The Hedera Hashgraph price lower movement began in November 2021, after tagging the swing highs around $0.47. While analyzing the monthly chart below, we found the price is resting near crucial four-month support. This is a significant level as the side-lined buyers find interesting opportunities to lock in some gains. But the bulls lack the conviction to take out the January 2022 highs of $0.34.
The ascending trend line, which is extending from the lows of $0.0299 acts as a support for the bulls. However, a decisive breakout in January brings the lows last visible in August.
A strong red candlestick that begins to build up in the month of April is expected to grow deeper. Furthermore, investors would out of their patience if the Hedera Hashgraph gives a monthly close below $0.18.
In that case, we expect the price to drop substantially by nearly 150% to the lows of February 2021 at $$0.07.
Alternatively, the upper side is capped near $0.30 for a longer time frame. The price has to face this challenge to reverse the prevailing downtrend.
In that scenario, the Hedera Hashgraph buyers would not hesitate to take out the $0.45 horizontal resistance zone.
Is HBAR token a Good Investment for the future?
HBAR is a good investment for the long term as the weekly time frame analysis highlights a recent increase in buy pressure. We expect the asset to attain a 2X Market Cap projection from the current price level of 0.35284.