What is Hedera (HBAR) crypto and is it environment friendly?

Image Source: © Moxumbic | Megapixl.com


  • Hedera is an enterprise-grade public network for the decentralized economy.
  • It opened its mainnet access in September 2019 
  • The HBAR token powers Hedera’s services and safety tasks. 

Although blockchain-based projects are considered disruptive and environmentally unsafe due to their high power consumption in mining processes, it is one area that is hard to ignore.

Some projects, though, claim to be environmentally friendly. They emphasize that to help minimize the effects, they either buy carbon credits or use less electricity in the mining process.

A day after the World Environment Day was observed, the Hedera crypto was trending, which claims to be eco-friendly. Hedera claims to have adopted environmental sustainability as its core value, with the strong backing of its governing council members.

According to the network, it purchases carbon credits quarterly, as determined by its third-party carbon emission assessment provider, Terrapass. 

The HBAR token was trending on Monday after it provided a few updates. 

The network said that it is conducting a workshop in Austin, Texas, on June 7, led by developer relations engineer Ed Marquez. The workshop will show how one can set up a Hedera testnet for minting fungible tokens. They can also learn to create a decentralized application (Dapp) on Hedera written in Solidity, an object-oriented programming language.

Further, on June 9, the head of ServiceNow’s vision and innovation division will present Hedera’s transparency, and accountability as part of the corporate’s environmental, social, and governance (ESG) framework at an event themed Consensus 2022.

Also Read: Why is Trust Wallet token (TWT) rising?

Consensus 2022 is a four-day event hosted by CoinDesk to showcase and celebrate cryptos covering different facets, including blockchain, Web 3, metaverse, etc.

The event will be in Austin, Texas, from June 9 to 12. More than 500 speakers and around 15,000 delegates are expected to participate. 

Also Read: Why is EVM blockchain Velas (VLX) rising? know more about it here

What Is Hedera (HBAR)?

Hedera is an enterprise-grade public network for the decentralized economy where individuals and businesses can create their decentralized applications (DApps).

The network aims to be sustainable. It is designed to eliminate some, if not all, of the limitations of the older blockchain platforms, for example, slow performance and instability.

Also Read: What is Reserve Rights (RSR) crypto? Know price & performance

Hedera opened its mainnet access in September 2019 after its initial coin offering (ICO) in August 2018. Hedera claims to process more than 10,000 transactions per second (TPS) compared to Bitcoin’s average of three TPS and Ethereum’s 12.

As per its website, the average Hedera fees are also relatively low compared to the two. It charges US$0.0001 while Bitcoin’s average fee is roughly US$22.57 and Ethereum’s about US$19.55. 

Also Read: Why is Celsius (CEL) crypto falling?

Data Source: coinmarketcap.com

Also Read: Solana (SOL) crypto drops after outage; know more here

HBAR token:

The HBAR token plays a dual role in the network. It powers Hedera’s services besides securing the network. It is used for file storage, smart contracts, and other transactions. It is also used to secure the network as users stake their HBAR tokens to maintain the platform’s integrity.

The HBAR tokens’ total supply is 50 billion, and its total circulation is 20.74 billion. 

Also Read: What is RadioShack (RADIO) crypto and why is it rising?

Bottom line:

The Hedera (HBAR) token rose 4.72% to US$0.09596 at 11:15 am ET on Monday, while the global crypto market rose more than 3% at the same time. 

Risk Disclosure: Trading in cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory, or political events. The laws that apply to crypto products (and how a particular crypto product is regulated) may change. Before deciding to trade in financial instruments or cryptocurrencies you should be fully informed of the risks and costs associated with trading in the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed. Kalkine Media cannot and does not represent or guarantee that any of the information/data available here is accurate, reliable, current, complete or appropriate for your needs. Kalkine Media will not accept liability for any loss or damage as a result of your trading or your reliance on the information shared on this website.



The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media LLC (Kalkine Media, we or us) and is available for personal and non-commercial use on