Google, IBM, and LG Believe in Hedera – Should You?
When most people hear "crypto", they think of blockchains with sky-high gas prices, and congested networks. But, what if I told you that not all decentralized ledgers are blockchains? And that one of them is even backed by companies like Google, IBM, and LG, and is wonderfully solving the trilemma of speed, security, and decentralization? Want to know more? keep on reading and get in depth info on this future of decentralization.
Most people when told about "crypto", they equate it with Blockchain (a long chain of transactions with expensive gas fees and overloaded networks). But what if I told you that blockchain isn't the only way to achieve decentralization? And Here comes The Hedera Hashgraph. A public ledger quite ahead of the classic blockchain model that is incredibly fast, energy efficient and secure. So efficient that Hedera can potentially process hundreds of thousands of transactions per second in a single shard, thanks to its efficient design. Confused? keep reading, everything will make sense soon. Sounds awesome, right? And there's more…
What is Hedera Hashgraph?
- The Hedera public network is a public, proof-of-stake network built on open source hashgraph distributed consensus algorithm.
- Now what does that mean? It means that Hedera uses a unique consensus algorithm called Hashgraph, totally different from traditional blockchain.
- In this mechanism consensus is achieved through:
- Gossip-About-Gossip protocol: Nodes share information with everyone else, including who told them and when.
- Virtual Voting Mechanism: Every node can independently calculate how the network would vote about the transaction.
You want to know in more detail? check out this amazing video explanation.
What is HBar?
HBAR is the native, energy-efficient cryptocurrency of the public Hedera network. Hbars are used to pay application transaction fees and protect the network from attack through proof-of-stake.
Hedera vs Blockchain: What's the Difference?
| Feature | Traditional Blockchain | Hedera Hashgraph |
|---|---|---|
| Consensus | Mining / Proof-of-Work | Gossip + Virtual Voting |
| Speed | 7–30 TPS (Bitcoin/Ethereum) | Up to 100k+ TPS |
| Energy Efficiency | High power consumption | Extremely low energy usage |
| Finality | Probabilistic | Absolute finality |
| Network Fees | Often unpredictable | Fixed, low-cost fees |
Real-World Use Cases of Hedera
- Avery Dennison: Tracks product provenance using Hedera.
- ServiceNow: Uses Hedera for verifying digital records.
- Coupon Bureau: Hedera secures digital coupon distribution at scale.
Why Should Builders and Developers Care?
- Predictable Fees: Build without worrying about wild gas spikes.
- Fast Finality: Transactions confirm in seconds, not minutes.
- Open Access: Anyone can build on Hedera.
- Built-in Services:
- Token Service – Create your own tokens
- Consensus Service – Log events or messages immutably
- Smart Contracts 2.0 – EVM-compatible, super-efficient
How to Get Started with Hedera
- Create a Hedera Wallet
- Get some test HBAR from Hedera Faucet
- Explore developer docs: Hedera Docs
- Start building with the Hedera JavaScript SDK or EVM smart contracts
Final thoughts
Hedera is not just a blockchain alternative. It's a leap forward in how decentralized systems can work. Are you also as excited as me about hedera? Drop a comment, share this with someone into crypto, or better yet - start building now.
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