Hedera Sustainability: A Comprehensive Examination

Hedera Sustainability

Sustainability of Hedera. Hedera’s network is known for its low energy consumption, making it more sustainable compared to some other blockchain platforms. This sustainability aspect can be particularly appealing for applications and solutions focused on environmental and carbon markets.
The mention of “Guardian on Hedera” suggests that the platform is used for various real-world applications, including sustainability solutions. It highlights the importance of trust, transparency, and efficiency, particularly in industries like carbon markets, where accurate data and verification are crucial.
Hedera’s governance structure and features make it a unique player in the blockchain space, emphasizing security, sustainability, and enterprise adoption. It’s often chosen for applications where a high level of trust and efficiency is required.

 

Carbon Reduction

Hedera is expanding its ecosystem to address environmental issues, including carbon reduction, as a key part of its business.

Because of this, companies that want to bring green processes from the Web2 world to the Web3 world are partnering with Hedera.
For example, Hyundai Motor Company recently announced that it will adopt the Hedera Network to build a blockchain-based Supplier CO2 Emission Monitoring System (SCEMS).

Other examples include, in August, Hedera announced a partnership with Asia-Pacific climate technology company Carbonbase to launch the Global Climate Registry (GCR), a digital carbon registry.

“The Asia-Pacific region will account for more than 50% of global carbon dioxide emissions in 2022, but lacks a carbon registry to efficiently reduce emissions,”

the companies said in explaining the partnership. GCR aims to provide a digitally native experience for project developers, auditors, and buyers to register, verify, and purchase high-integrity, data-driven carbon credits, while Hedera, built on the Hashgraph network, provides a cost-effective, transparent, and accessible solution for carbon reduction projects to earn verified credits.

Hedera, CarbonBase, and ImpactX will collaborate to build the GCR, the company said, adding that the blockchain-based registry will contribute to global carbon reduction by facilitating carbon reduction projects and high-quality carbon credits.

 

Deep Dive into Hedera

Hedera is a blockchain platform that utilizes a unique consensus algorithm called Hashgraph, specifically the asynchronous Byzantine Fault Tolerance (aBFT) hashgraph consensus algorithm. It offers several key features and attributes:

  • Decentralization: Hedera is a decentralized public ledger, meaning that it doesn’t rely on a single central authority. It is governed by a decentralized council comprising leading enterprises, universities, and web3 projects from around the world. This governance structure aims to be collusion-resistant.
  • Consensus Algorithm: Hedera employs the aBFT hashgraph consensus algorithm, which is known for its efficiency and security. It can achieve high throughput and fast finality.
  • Smart Contracts: Hedera provides an Ethereum Virtual Machine (EVM) that allows developers to create smart contracts and decentralized applications (dApps). These smart contracts are designed to be high-performance and optimized for real-time applications.
  • Tokenization: Hedera offers easy-to-use native tokenization and consensus service APIs, making it convenient for developers to create tokens and build applications that require consensus mechanisms.
  • Performance: Hedera is designed for high throughput with fast transaction finality, low and predictable transaction fees, and fair transaction ordering with consensus timestamps. These attributes make it suitable for a wide range of applications.

 

Recent News: Hedera Mainnet Upgrade on October 24th

Hedera(HBAR), a layer-1 blockchain project, has announced a mainnet upgrade through its official channels. upgrading Hedera mainnet to v0.42 on Tuesday, October 24th 2023 at 17:00 UTC. The upgrade will take approximately 60 minutes to complete. Hedera has previously announced that network services may be suspended during this time.

 

Market Data

According to CoinMarketCap, HBAR is trading at $0.04834, up 2.63% from the previous day. The market cap is $1,620,833,400 and its 24h volume is $64,448,478. Its circulating supply is 33,531,516,661 HBAR and its total supply is 50,000,000,000 HBAR.

 

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