BTC PULSE
No Result
View All Result
Play Now
No Result
View All Result
BTC PULSE
No Result
View All Result
Play Now
Home Blockchain

Hedera Processes Over 3Billion Transactions

by Chiwuike Owunwa
Jan 23, 2023 - 12:00 am
in Blockchain
Hedera Processes Over 3Billion Transactions

On the 23rd of January 2023, the official Twitter account of Hedera put out a thank you tweet announcing that over 3 billion mainnet transactions have been processed by the platform.

https://twitter.com/hedera/status/1617187345123479554

Hedera project thanked their network of entrepreneurs and enterprises, stating that the milestone was possible thanks to the power of networks. It also claims that it’s just getting started and has a goal of over 4 billion recorded transactions in view.

Hedera is a decentralized, fully open source public distributed ledger that utilizes the fast, fair, and secure hashgraph consensus. Developers can utilize HBAR as the staking coin and a governance token and pay for network services, including managing fungible and non-fungible tokens. 

By December 31, 2021, Hedera had already recorded more than 1 billion confirmed transactions, providing real-world value to companies in many different industries worldwide.

Hedera presents itself as a faster and more secure alternative to blockchain.

The platform claims to have done away with previous limitations experienced by other blockchains due to the development of its new kind of blockchain. Hedera claims the proof is present in its track record and numbers.

While Bitcoin can only process around 3 to 7 TPS, and Ethereum 1.0 only has 12 TPS, Hedera can process around 10,000 TPS.

The average fees on the Hedera cryptocurrency platform are also significantly lower. While Bitcoin charges $22.57 and Ethereum charges $19.55, Hedera averages only $0.0001 in fees.

Transaction confirmation time is slashed as the Bitcoin blockchain takes 10 to 60 minutes to confirm a transaction, and on Ethereum, it takes 10 to 20 seconds. However, on Hedera’s protocol, it takes only 3 to 5 seconds.

Hedera also claims to be much more energy efficient and sustainable than Bitcoin and Ethereum, as it uses a proof-of-stake model rather than proof-of-work. While BTC uses 885 kWh and Ethereum uses 102 kWh, Hedera says it only uses 0.00017 kWh.

The above are some of the reasons for the achieved milestone. And while this comparison certainly seems pretty impressive, as it stands, Hedera has far fewer transactions to process because it is much smaller and much newer. The technology is relatively much less tested, 

Some users doubted the figures, questioning what percentage of the figures truly represented human activities and what percentage was conducted to prop up the network. In response, the director of marketing for Hedera quickly shared links of proof into Hedera’s ecosystem.

Tags: BitcoinBlockchainEthereumHedera
Chiwuike Owunwa

Chiwuike Owunwa

Chiwuike is a frontend programmer and writer with 3 years experience in the Web3. He's meticulous researcher, enthusiastic about Blockchain and the future of crypto, DeFi, and the Metaverse.

Related Posts

Exterior view of the Czech National Bank building in Prague, symbolizing the institution’s financial strategies and innovation.

Bank of England Governor Says Stablecoins Could Reduce Reliance on Banks

October 1, 2025

Andrew Bailey says stablecoins could reduce UK reliance on commercial banks by separating money from credit, signaling a...

blockchain

Spacecoin Executes First Blockchain Transaction Through Space

October 1, 2025

Spacecoin has achieved the first-ever blockchain transaction through space using a nanosatellite, marking a milestone for decentralization and...

The headquarters of the Autorité des Marchés Financiers (AMF) Investor in Paris, France, the regulatory body warning investors against ByBit.

French Officials Pressured Telegram to Censor Moldova Election Posts: Durov

September 28, 2025

Pavel Durov revealed French intelligence pressured Telegram to censor Moldova election content in 2024, which he refused, citing...

Wall Street financial district with Bitcoin symbol representing institutional adoption

Bitcoin skepticism fades as nations gear up for adoption, says Samson Mow

September 28, 2025

Samson Mow predicts nation-states will move from skepticism to rapid Bitcoin adoption, fueling global FOMO and a rush...

View All
BTC-Pulse LogoTransparent

© 2024 BTC-PULSE. Disclaimer: The content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.

Info

  • Learn
  • Price Prediction
  • Events
  • Press Releases
  • Sitemap

Company

  • About Us
  • Terms of Service
  • Privacy Policy
  • Contact Us
  • Advertise

News

  • Altcoins
  • Bitcoin
  • Ethereum
  • NFT
  • Regulation
  • WEB 3.0

©2024 BTC-PULSE – All right Reserved.

No Result
View All Result
  • About Us
  • Advertise
  • BTC-PULSE
  • Contact Us
  • Events
  • Privacy Policy
  • Sitemap
  • Terms of Service