While they have done an admirable job introducing the world to the wonders of cryptocurrency, the Bitcoin and Ethereum networks suffer from a number of problems, including slow transaction speeds and very long confirmation times.
Stepping up to offer a ‘new way’ and a new blockchain is Hedera’s Hashgraph network, which is powered by its native $HBAR token.
The company is promising much faster transaction times of 10,000 transactions per second, three to five second confirmation time, and very low fees of around $0.0001 per transaction.
One of the first
OKEx will be one of the first cryptocurrency exchanges to list Hedera’s $HBAR token.
Announcing the news on its website and Twitter feed, OKEx said: “You guessed it right! We’re delighted to announce that #OKEx will soon list @hashgraph $HBAR, one of the first exchanges to do so.”
Customers will be able to deposit $HBAR from September 16, and withdraw the token from September 24. OKEx will list the asset in three trading pairs initially: HBAR/BTC, HBAR/USDT and HBAR/USDK.
The token will be available on OKEx alongside a comprehensive range of digital assets, and alongside a large variety of services that the Malta-based exchange offers its customers, including spot trading, perpetual swap trading, and futures contracts.
Improving on the past
Billing itself as the ‘third generation public ledger’, Hedera uses the Hashgraph consensus algorithm. On its website the company says this means transactions are very fast, at around 10,000 per second and it says the network is highly secure.
Described on OKEx’s support pages Hedera is said to be unique in its offering:
“The hashgraph consensus algorithm is the only consensus protocol that achieves the highest level of security possible: ABFT (‘Asynchronous Byzantine Fault Tolerance”). ABFT means that the network achieves consensus finality even under real world network faults.”
The company aims to separate consensus from governance and is working to offer “diversified and distributed consensus”, which is agreed by tens of thousands of nodes.
“Hedera is separating consensus from governance and at scale expect to have the most diversified governance and most distributed consensus. Governance a council of Fortune 400 blue chip companies diversified by geography, sector and time – 1/3 leave every year. Consensus will be achieved by tens of thousands of nodes at scale.”
You can find out more about OKEx listing Hedera Hashgraph here.