What is the issue volume of HBAR coins? An article introduces the application scenarios of HBAR coins

HBAR coins, the native token of the Hedera network, have a circulating supply of 18 billion and serve multiple purposes within the network, including transaction fees, staking rewards, smart contract gas fees, tokenization, and governance.

Oct 25, 2024 at 02:24 pm

Understanding the Issuance Volume and Use Cases of HBAR Coins

What is HBAR?

HBAR is the native token of the Hedera network, a distributed ledger technology platform. It is designed to be a secure, efficient, and scalable network for building decentralized applications (dApps).

Issuance Volume of HBAR Coins

As of March 2023, the total supply of HBAR coins is approximately 50 billion, with a circulating supply of around 18 billion coins. The remaining coins are held in reserve by the Hedera Governing Council.

Use Cases of HBAR Coins

HBAR coins serve multiple purposes within the Hedera network, including:

1. Transaction Fees: HBAR coins are required to pay for transaction fees on the Hedera network. These fees cover the costs of processing transactions and securing the network.
2. Staking Rewards: HBAR holders can stake their coins to earn rewards as nodes validate transactions and contribute to the network's consensus.
3. Governance: HBAR holders can vote on important network decisions and participate in the governance of the Hedera ecosystem.
4. Smart Contract Gas Fees: HBAR coins are used to pay for the computational resources required to run smart contracts on the Hedera network.
5. Tokenization: HBAR coins can be used to represent other assets or rights, such as digital currencies, stocks, or NFTs.

Application Scenarios

The Hedera network and HBAR coins have been adopted across various industry sectors, including:

• Supply Chain Management: Tracking and verifying the provenance of goods and materials throughout the supply chain.
• Financial Services: Facilitating fast and secure transactions, automating processes, and reducing costs.
• Healthcare: Providing a secure platform for managing patient data, facilitating medical research, and improving patient outcomes.
• Public Sector: Enhancing efficiency, transparency, and security in government processes, such as identity management and voting systems.
• Gaming: Enabling the creation of decentralized games, preventing fraud, and ensuring fair play.