The US-based cryptocurrency exchange Coinbase announced today that it will list a new altcoin in a second announcement. The related altcoin started to rise in a short time after the news.
Coinbase lists this altcoin from the top 50 rankings
The popular crypto exchange Hedera (HBAR) is opening the token for trading from September 13. The announcement came from Coinbase Assets’ Twitter account today. HBAR-USD and HBAR-USDT transactions will be opened on September 13, 19:00.
Coinbase will add support for Hedera (HBAR) on the Hedera network. Do not send this asset over other networks or your funds may be lost. Inbound transfers for this asset are available on @Coinbase & @CoinbaseExch in the regions where trading is supported.
— Coinbase Assets (@CoinbaseAssets) September 12, 2022
HBAR made a drastic move of over 7% after the news of my listing. cryptocoin.com As you’ve followed, Coinbase’s listing news is generally bullish. HBAR had to settle for 7% as the market was listed in a rather stagnant period.
The 41st largest cryptocurrency by market cap is trading at $0.0672 at the time of writing. After briefly peaking with the listing news, it couldn’t escape the fix.
What is Hedera?
The verification process in most blockchain-based projects relies on mining, an energy-intensive process that requires computers to work with extremely difficult computations to verify transactions. Hedera Hashgraph aims to solve this problem by completely eliminating mining and using an entirely new ledger structure.
Hedera is not a Blockchain in the sense that it is built on a Blockchain. It is best to imagine this as a graph where the verification speed of transactions increases as more transactions are added to the network. The name of the technology it is based on is actually known as DAG. An abbreviation for Directed Cyclic Graph.
This technology is designed to help Hedera Hashgraph process more than 100,000 transactions per second, making it a real competitor for Visa and other mass market payment systems. The Hedera network currently processes 6.5 million transactions per day with an average transaction time of 5 seconds – easily surpassing Ethereum’s 1.2 million and Bitcoin’s 300,000 combined.
How does Hedera Hashgraph work?
A council of 19 multinational companies from around the world manages the platform and software that will run millions of nodes globally. To reach consensus, instead of mining, nodes on the Hashgraph “gossip” with each other, comparing notes on the network’s transaction history.
While the nodes gossip, they choose a few “celebrity witnesses”. Every witness is an event or transaction and they become famous as they are forwarded to the nodes early in the process. The selected nodes then compare the gossip about these famous witnesses in most of the nodes.
