According to web3 analytics firm Santiment, Hedera, a leading platform that enables seamless tokenization of real-world and digital assets at scale, has become the top crypto project in terms of development frequency for the past two months.
As per a tweet shared by the Hedera team on X, the platform is followed by Chainlink, Optimism, and Internet Computer. Swirlds Labs and the Hashgraph Association offer an official developer course for the Hedera ecosystem. The platform is an open-source, public, proof-of-stake network, offering low fixed fees and instant transaction finality.
Hedera is the top development choice for all kinds of platforms, ranging from permissionless Web3 startups and NFT projects to Fortune 500 companies. These companies are utilizing Hedera to build their next-generation applications.
Why is Hedera the best network for crypto development?
According to the official website, Hedera processes 10,000 transactions per second (TPS), which is much higher than many traditional networks like Bitcoin and the Ethereum Mainnet. Transactions achieve consensus and are finalized within seconds, providing near-instant confirmation.
Hedera offers Software Development Kits (SDKs) in numerous programming languages, making it easier for developers to build on the network. A growing ecosystem of dApps, tools, and services is built around it, providing new projects with a supportive environment.
The platform uses Asynchronous Byzantine Fault Tolerance (ABFT), one of the highest security standards for distributed systems. This makes sure the blockchain is resilient to faults and malicious attacks. Hedera’s consensus algorithm ensures fair transaction ordering, preventing manipulation like front-running.
Similarly, transaction fees on Hedera are low and predictable, making it cost-effective for developers. Unlike many other blockchains and networks, Hedera’s fee structure was developed with long-term stability in mind, which benefits planning and budgeting.
Lastly, Hedera’s blockchain and governance are structured to comply with regulatory standards, which is important for the wider adoption of apps and development tools in regulated industries.
HBAR price performance
HBAR, Hedera’s native token, has performed quite well since last year. It is currently trading at $0.07558, with a 49.47% gain over the past 365 days. However, the token has experienced significant losses over the past month, dropping by 28.81% as the entire market declined.
The HBAR token is utilized to pay for transaction fees and network services, as well as for in-app payments. Additionally, developers can use it to pay network fees. HBAR serves as an incentive for and also compensates network nodes.
