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Hedera- Public ledger blockchain

Tue, 20 Feb 2024, 09:11 am UTC

Hedera is a decentralized, open-source, proof-of-stake public ledger that utilizes the leaderless, asynchronous Byzantine Fault Tolerance (aBFT) hash graph consensus algorithm.

Hashgraph consensus -

It uses a data structure called a hashgraph, and a consensus mechanism called the Gossip protocol. A Hashgraph is a distributed consensus algorithm and data structure that is fast, fair, and secure. It also efficiently uses its bandwidth and the block never becomes stale.

The hashgraph consensus algorithm is asynchronous Byzantine Fault Tolerant. This means that no single member (or small group of members) can prevent the community from reaching a consensus. Nor can they change the consensus once it has been reached. Once consensus is reached, the transaction is immutable and available on the public ledger for everyone to transparently see.

Hashgraph utilizes the gossip protocol to send information between network nodes and come to a consensus on transactions

The Hedera network is composed of two nodes

Consensus nodes - They receive transactions, work together to determine consensus using a hashgraph, and store the public ledger's latest state. It is operated by the Hedera Governing Council.

Mirror nodes- They are permissionless, and store the history of transactions for analytics and explorers.

Main features

Transaction per second -10000+

Average fee- $0.0001

Transaction confirmation- 3-5 seconds

HBARUSD surged more than 75% in the past. week. It hit a high of $0.1176 at the time of writing and is currently trading around $0.1065.

The bullish invalidation can happen if the pair closes below $0.065. On the lower side, the near-term support is $0.0980. Any break below target $0.080/$0.0650. Any breach below $0.065 will drag the pair to $0.045/$0.030.

The immediate resistance stands at around $0.1250. Any breach above confirms bullish continuation. A jump to $0.15/$0.20 is possible. A surge past $0.20 will take it to $0.35.

It is good to buy on dips around $0.098 with SL around $0.080 for TP of $0.15/$0.25.

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