Hedera; heard of it? Probably not! The picture above is a hedera. A hedera is a clinging plant like ivy. It covers everything. That’s a good name for it, because unlike Bitcoin, the Hedera can make micro transactions. A Hedera transaction costs very little where a Bitcoin transaction costs about $40 – too much to buy a song on iTunes or a hamburger at McDonald’s. Bitcoin can only handle about 7 transactions worldwide in a second. That’s why it takes hours sometimes for a transaction to be confirmed.
On the other hand, Hedera can make 350,000 + transactions per second which means at peak commercial activity, it will maybe take a few seconds to confirm a transaction. Hedera will turn Bitcoin into a dinosaur, but not right now. It will not be available to the public until early or late spring of 2019. Be prepared, because it should have a very well received premier.
Hedera doesn’t have the unfruitful expense of “mining” Bitcoins, and that’s why the cost of a transaction is so low. Currently, Bitcoin mining is consuming about 1/2% of all of the electricity produced in the world! What a waste of electricity! It should be noted here that money can be cumbersome, and therefore, there is a place for currency which is often times more fungible. Try traveling to a foreign country and spending U.S. currency in that country. Some countries don’t want U.S. dollars any more. A cryptocurrency has the potential of becoming universal, fast and convenient (you technically carry it with you wherever you go). It is the future. Maybe it will some day supplant banks – oh for the day!
Institutional investors as well as private investors are in the process of making this new cryptocurrency a reality. Cryptocurrencies are just like government fiat currencies save for the fact that the bankers are out of the picture, and cryptocurrencies do not have the force of law behind them. It will be the great new worldwide battle of the century. Banks don’t like cryptocurrencies, and would like to ban them if they could. That’s not likely to happen, and the longer they exist the harder that will be. The banksters cannot argue effectively against cryptocurrencies, but they may well try to figure out a way to sabotage them. This writer would rather bet on entrepreneurial skill than the criminal talents of the banksters.
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