The Hedera Hashgraph platform is an alternative form of distributed consensus. As with other peer-to-peer platforms, it eliminates the need for intermediaries to execute transactions. Hedera Hashgraph is a decentralized distributed consensus that is structurally quite different from the Bitcoin and Ethereum blockchains but performs equivalent functions.
HBAR ensures that blockchains operate as transparently as possible. It supports smart contracts, so it is a potential hub for distributed applications in finance and other fields. Smart contracts allow developers to build applications that support the transfer of value and goods without intermediaries such as banks or exchanges. They may also cost less, be faster and more secure than traditional contracts.
HBAR is up 4.34% in the last 24 hours. Shinhan Bank, South Korea's second-largest bank, and SCB TechX have announced the completion of their second stablecoin pilot on Hadera. Hedera said that the pilot program has achieved real-time settlement and real-time foreign exchange rate integration across Thai Baht (THB), New Taiwan dollar (NTD) and South Korean won (KRW). Byunghee Kim, Chief of Blockchain Division at Shinhan Bank, said that they are pleased to show how Hedera’s EVM-compliant technology helps eliminate intermediaries, reduce costs, and speed up the remittance process. This development may have been instrumental in the rise of HBAR.
