HBAR token rises over 15% after FedNow adds Hedera’s Dropp platform.
Hedera Hashgraph, unique due to its hashgraph consensus, sees a surge in daily active accounts, fueled by NFT activity.
The FedNow Boost: Hedera’s New Elevation
Hedera Hashgraph’s native token, HBAR, has witnessed an impressive upswing, growing more than 15%, following the integration of “Dropp” by the U.S. Federal Reserve’s instant payment platform, FedNow. Dropp stands as a revolutionizing pay-by-bank solution, presenting an alternative to traditional credit card payments. Its primary allure? Merchants can effortlessly accept digital micropayments without incurring hefty transaction costs. The micropayments can be processed in Hedera’s HBAR, U.S. dollars, or Circle’s USDC.
This integration isn’t just a fleeting spike; the token’s value has escalated nearly 50% since mid-June. And with its market cap now exceeding $2.1 billion, HBAR firmly cements its place in the crypto hierarchy.
Unlocking Hedera’s Distinctive Blueprint: A Deep Dive into Hashgraph Consensus
Hedera Hashgraph isn’t just another name in the blockchain ecosystem. It differentiates itself through a unique blockchain structure, primarily its hashgraph consensus. This isn’t mere jargon. In the realm of distributed ledgers, while many employ blockchains, Hedera exclusively leverages hashgraph consensus. The rewards of this choice? An impressive throughput of over 10,000 transactions per second and achieving low-latency finality in mere seconds.
Recent reports highlight another commendable achievement. Hedera’s daily active accounts have skyrocketed, seeing a 288% growth year-to-date. From 3,500 to a staggering 13,500 by Q2 2023. This uptick wasn’t accidental. Non-fungible tokens (NFTs) played a pivotal role, with Karateka, a Web3 game developed by GameOn, being a significant contributor. Compared to the DeFi-driven activity of the previous year, this represents a notable shift in the driving force behind Hedera’s growth.
Recent Evolutions in Hedera’s Ecosystem
Hedera has been far from static in the past months. Noteworthy developments include FreshSupplyCo (FSCO) integrating Hedera into its payment trigger API, an upgrade from the previously utilized Mastercard Provenance blockchain. Additionally, South Korea’s Shinhan Bank made headlines by successfully completing a stablecoin remittance proof-of-concept pilot, all built on Hedera’s open-source public network.
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