Overview
Hedera is a public network created by Leemon Baird and Mance Harmon, launched in 2019. Instead of a classic blockchain, it uses hashgraph, a technology Baird invented that lets computers agree on the order of transactions very quickly and securely.
Hedera is governed by the Hedera Governing Council, a group of up to 39 large organizations from different industries and countries, including Google, IBM, Dell, LG and Deutsche Telekom. Each member has an equal vote.
How it works
- Transactions are final in about 3–5 seconds.
- Fees are fixed in US dollars, for example around $0.0001 for a simple transfer, so businesses can predict costs.
- Hedera offers token creation, smart contracts compatible with Ethereum and a “consensus service” for timestamping data.
- Companies use it for payments, supply-chain tracking, carbon credits and tokenized assets.
The hashgraph code, originally patented, was open-sourced in 2022.
The HBAR token
| HBAR at a glance | |
|---|---|
| Maximum supply | 50 billion HBAR |
| In circulation (Oct 2026) | about 44.3 billion |
| Price (29 Oct 2026) | about $0.075 |
| All-time high | about $0.57 (September 2021) |
| Market cap | about $3.3 billion (#32) |
HBAR pays network fees and is staked to secure the network. Canary’s spot HBAR ETF (HBR) launched in October 2025; by July 2026 it held about $48 million, and its share price had fallen more than 60% since launch.
Risks
- Low on-chain activity. DeFi on Hedera holds only about $30 million, according to DeFiLlama.
- Governance. The council model is stable but less decentralized than open networks.
- Enterprise pace. Corporate projects often stay small or move slowly.
- Supply. Remaining HBAR is released over time by the Hedera treasury.
Hedera vs. the competition
| Hedera | Algorand | Stellar | |
|---|---|---|---|
| Technology | Hashgraph | Pure proof of stake | Stellar Consensus Protocol |
| Governance | Council of companies | Foundation | Foundation |
| Fees | Fixed in USD | Very low | Very low |
| Focus | Enterprise | Enterprise, payments | Payments, tokenization |
Our verdict
Hedera is well engineered and backed by an impressive list of companies, with predictable fees that suit businesses. But usage by everyday crypto users is small, and HBAR has fallen about 87% from its peak. HBAR is a high-risk bet on enterprise blockchain adoption. Invest only what you can afford to lose.
This review is for information only and is not financial advice.