BTC PULSE
  • News
    • Altcoins
    • Blockchain
    • Bitcoin
    • Ethereum
    • NFT
    • Regulation
    • WEB 3.0
  • Price Prediction
  • Learn
  • Events
  • Advertise
No Result
View All Result
Play Now
  • News
    • Altcoins
    • Blockchain
    • Bitcoin
    • Ethereum
    • NFT
    • Regulation
    • WEB 3.0
  • Price Prediction
  • Learn
  • Events
  • Advertise
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

Interactive Strength partners with Fetch.ai to launch a $500M AI token treasury

Interactive Strength Launches $500M AI Token Treasury in Landmark Fetch.ai Deal

June 11, 2025

Interactive Strength launches $500M AI token treasury with Fetch.ai, aiming to boost shareholder value and bring decentralized AI...

Uniswap price chart displaying breakout from inverse head-and-shoulders pattern with bullish momentum indicators

Uniswap Breaks Out of Inverse Head-and-Shoulders Pattern, Eyes 37% Upside

June 11, 2025

Uniswap breaks out of inverse head-and-shoulders, targets $10.40. Daily volume up 150%, user activity surging amid bullish DeFi...

blockchain

Circle’s Stellar IPO Fuels ProShares and Bitwise ETF Filings Tied to CRCL Shares

June 10, 2025

Circle’s explosive IPO drives ProShares and Bitwise to file CRCL-linked ETFs, reflecting rising institutional demand for stablecoin-linked equities.

Brian Quintenz speaking at his Senate confirmation hearing for CFTC chair nomination

Trump’s CFTC Nominee Brian Quintenz Calls Blockchain a Society-Shaping Force

June 10, 2025

Trump’s CFTC nominee Brian Quintenz says blockchain will reshape society and urges Congress to act on clear rules...

Press Releases

image2

Could XYZVerse Overtake DOGE and SHIB? Analysts Say $0.003333 Could Explode to $10!

March 30, 2025

XYZVerse aims to outpace DOGE and SHIB, with bold $10 price goals, strong community rewards, and rising demand as it...

image1 1

Massive Institutional BTC Buys Could Launch the Next Bull Market: 5 Altcoins to Watch

March 29, 2025

Institutional Bitcoin buys may trigger a market surge. Five altcoins, including $XYZ, stand to gain—early investors could see major ROI...

image1

XRP Faces Strong Resistance While XYZVerse Gains Early Investor Attention With 10 Billion $XYZ Airdrop

March 28, 2025

XRP struggles at resistance, while XYZVerse grabs early investor attention with a 10B token airdrop and rapid growth toward a...

BTC

Popular Memecoin MEW Pledges $10,000 to Pasadena Humane Organization to Aid Animals Affected by California Wildfires

January 20, 2025

MEW memecoin donates $10K to Pasadena Humane for wildfire-affected animals. Join the mission to aid pets and wildlife in crisis...

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.

News

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

Info

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

Company

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

©2024 BTC-PULSE – All right Reserved.

No Result
View All Result
  • News
    • Altcoins
    • Blockchain
    • Bitcoin
    • Ethereum
    • NFT
    • Regulation
    • WEB 3.0
  • Price Prediction
  • Learn
  • Events
  • Advertise