What is HBAR?
HBAR is the native token of the Hedera Hashgraph network. Hedera Hashgraph is a Proof-of-Stake public network. Hedera Hashgraph does not use blockchain technology. It instead uses a distributed ledger system called a Directed Acyclic Graph, also known as DAG. DAG allows all network nodes to process transactions in parallel with timestamps on each transaction to track their order. Different nodes ‘gossip’ all of the transactions with each other to ensure the entire network tracks each transaction. Gossiping is the basis of Hedera’s consensus mechanism which is known as Asynchronous Byzantine Fault Tolerant (ABFT). This essentially means that there is no specific time when all the network nodes must reach consensus on a set of transactions. This type of ledger technology makes processing transactions very efficient. Hedera’s DAG also allows for highly efficient transaction finality, meaning transactions are finalised within seconds. HBAR is used for governance of the network and for rewarding validator nodes for validating transactions