Hedera

Hedera is a public, decentralized network designed to let developers build applications that require fast, tamper-evident record-keeping and orderly message sequencing. Its native token, HBAR, is used to pay for network services and to secure the network itself. The platform targets enterprises and developers who need a verifiable, auditable log of events — such as supply-chain tracking, advertising audits, or permissioned-network coordination — without relying on a traditional blockchain structure.

Hedera uses a Directed Acyclic Graph rather than a conventional chain of blocks, meaning transactions are woven together in a graph structure that allows the network to reach consensus with near-zero confirmation delay, reflected in a block time of effectively zero minutes in the stored data. The governing council — a group of named global corporations and institutions including Google, IBM, Boeing, and Deutsche Telekom, among others — owns and oversees the network's development. HBAR tokens are spent as fees whenever an application submits a message, executes a smart contract, or transfers value on the network.

Over the trailing twelve months the network collected approximately 320,481 USD in fees, paid by developers and applications consuming network services such as the Hedera Consensus Service and smart contract execution. Despite that fee income, the protocol recorded zero USD in revenue for the same period, meaning none of those fees were retained or redistributed in a way the data classifies as protocol revenue. The network currently hosts roughly 32,081,820 USD in stablecoin supply, and market capitalization stands at approximately 3.41 billion USD against a total value locked of roughly 23.8 million USD, producing a market-cap-to-TVL ratio of about 143 and a fully diluted value-to-TVL ratio of about 163.